As we sadly watch the accounting profession become more and more commoditized, we must find a way to differentiate ourselves in the marketplace and become more relevant than ever before. In the latest podcast, Amanda C. Watts shares the importance of relevancy and the shift that accountants need to make to ensure they get paid their value.

Key Takeaways:

The Importance of Being VITAL: Amanda emphasizes the need for CPAs, accountants and bookkeepers to transition from traditional compliance roles to become 'VITAL Advisors' - Valued, Impactful, Trusted, Agile, and Lucrative.

The Vital Few vs. the Trivial Many: The concept is derived from Joseph Duran's work on the 80/20 rule, highlighting the importance of focusing on the vital few clients that contribute most to revenue.

Stages to Becoming a Vital Advisor: Amanda outlines four key stages in the journey from obscurity to vitality: starting with offering basic compliance services, moving to visibility through specialization, being valued with niche-specific solutions, and finally becoming vital by offering indispensable advisory services.

Transition from Compliance to Advisory Services: This shift is crucial for tapping into what clients truly want – moving beyond the essentials of compliance to the more desired advisory services.

Creating a Freedom Practice: By focusing on the 20% of activities and clients that yield 80% of the results and revenue, accountants can create a practice that offers more freedom and higher revenue.

Characteristics of a VITAL Advisor: Amanda lists and explains the five key characteristics that make an accountant vital: valued, impactful, trusted, agile, and lucrative.

The Goal of Becoming Essential: The end goal is for accountants to be seen as absolutely necessary and essential to their clients, ensuring stability and growth even in challenging times.

Want more? Join THE FREEDOM TRIBE

Here's all the FREE BONUSES you'll receive when you join our exciting community on Skool; The Freedom Tribe

• Global Community Of Peers: CPAs, accountants, fractional CFOs, bookkeepers and finance professionals from all over the world sharing ideas, best practice and innovations with each other.
• Digital copy of Amanda's NEW BOOK, the Business Advisor Playbook: 300+ pages that will transform your approach and share the strategies you need to create, sell and deliver business advisory services.
• Digital copy of 500:200 Model™ Guide: My tried-and-tested formula for taking home at least 200K with business advisory revenue of 500K.
• 12 Days Of Business Advisory video series: that walks you through creating the perfect advisory offer.
• Hand Picked And Categorised episodes of the Business Advisor Podcast to accelerate your journey from a compliance-led to an advisory-led practice.

PLUS: There are a few other surprise bonuses that can be UNLOCKED once you are inside the community: Get Clients Course and 5 Day LinkedIn Challenge. Super excited to see you there, and looking forward to helping you achieve all that you want in life.

-
Speak to you in the next episode...

If you have been in business for more than the last 5 minutes you will know what a business coach is. The coaching industry has done a great job of marketing itself, and ensuring that all business owners believe that they need a coach. 

When, in fact, what business owners need (in most instances) is an expert advisor with a financial background – YOU. 

Business coaches are stealing your clients. 

Key Takeaways:

Business Coaches vs. Business Advisors: Amanda emphasizes the significant difference between business coaches and business advisors, highlighting that many business owners are not aware of what a business advisor does and instead opt for business coaches.

Opportunity for Financial Professionals: There's a huge opportunity for accountants and financial professionals to step into the role of business advisors, as they possess deep financial knowledge that most business coaches lack.

Shifting Mindset: Amanda stresses the importance of shifting the mindset from being just an accountant or financial professional to embracing the role of a business coach, leveraging their expertise in finance.

The Competitive Advantage: Financial professionals have a strategic advantage due to their in-depth understanding of finance, which is often lacking in traditional business coaches.

Customized Advice and Risk Management: Accountants and financial pros can provide tailored advice, manage risks effectively, and ensure businesses are both profitable and compliant.

Redefining Business Coaching: By embracing the role of a business coach, financial professionals can redefine what it means to be a business coach, offering a more comprehensive and financially-informed service.

Embracing the Change: It’s time for financial professionals to step up, embrace their education, experience, and unique essence, and take the market by storm as business coaches.

Want more? Join THE FREEDOM TRIBE

Here's all the FREE BONUSES you'll receive when you join our exciting community on Skool; The Freedom Tribe

• Global Community Of Peers: CPAs, accountants, fractional CFOs, bookkeepers and finance professionals from all over the world sharing ideas, best practice and innovations with each other.
• Digital copy of Amanda's NEW BOOK, the Business Advisor Playbook: 300+ pages that will transform your approach and share the strategies you need to create, sell and deliver business advisory services.
• Digital copy of 500:200 Model™ Guide: My tried-and-tested formula for taking home at least 200K with business advisory revenue of 500K.
• 12 Days Of Business Advisory video series: that walks you through creating the perfect advisory offer.
• Hand Picked And Categorised episodes of the Business Advisor Podcast to accelerate your journey from a compliance-led to an advisory-led practice.

PLUS: There are a few other surprise bonuses that can be UNLOCKED once you are inside the community: Get Clients Course and 5 Day LinkedIn Challenge. Super excited to see you there, and looking forward to helping you achieve all that you want in life.

-
Speak to you in the next episode...

People are consuming more - of everything - than ever before in history.  While many see this as a bad thing, it can work to your advantage. Creating content, blogs, videos, books, guides, reports, and more, allows you to reach out and touch your ideal client where  ever they are. As well as influence them without even meeting them.

Key Takeaways:

Content Marketing as a Game Changer: Amanda C. Watts discusses how content marketing can significantly enhance the marketing of business advisory services.

Strategic Approach: Emphasis on the strategic nature of content marketing, focusing on creating and distributing valuable, relevant, and consistent content to attract and retain a defined audience.

Impact of Content Marketing: Content marketing helps in building trust, allowing advisors to sell their services at a better price, eliminating less desirable clients, and establishing themselves as industry experts.

Amanda's Success with Content Marketing: Amanda shares her personal success story, attributing over £5 million in revenue over 10 years to effective content marketing.

Different Formats of Content: Encouragement to use various content formats like videos, blog articles, webinars, and books to engage different audience segments.

Client Examples and Mindset Shift: Real-life examples of how Amanda's clients have successfully used content marketing, highlighting the importance of a mindset shift from technician to advisor.

Focus on Providing Value: The priority should be on delivering insightful, informative, and genuinely useful content to the audience.

Content Vault as a Resource: Introduction of the Content Vault, a resource for business advisors containing blog articles and social media posts, with training on converting them into other content formats.

Want more? Join THE FREEDOM TRIBE

Here's all the FREE BONUSES you'll receive when you join our exciting community on Skool; The Freedom Tribe

• Global Community Of Peers: CPAs, accountants, fractional CFOs, bookkeepers and finance professionals from all over the world sharing ideas, best practice and innovations with each other.
• Digital copy of Amanda's NEW BOOK, the Business Advisor Playbook: 300+ pages that will transform your approach and share the strategies you need to create, sell and deliver business advisory services.
• Digital copy of 500:200 Model™ Guide: My tried-and-tested formula for taking home at least 200K with business advisory revenue of 500K.
• 12 Days Of Business Advisory video series: that walks you through creating the perfect advisory offer.
• Hand Picked And Categorised episodes of the Business Advisor Podcast to accelerate your journey from a compliance-led to an advisory-led practice.

PLUS: There are a few other surprise bonuses that can be UNLOCKED once you are inside the community: Get Clients Course and 5 Day LinkedIn Challenge. Super excited to see you there, and looking forward to helping you achieve all that you want in life.

-
Speak to you in the next episode...

Somewhere between a CFO, traditional accountant, business coach and mentor lies the mysterious role of Business Advisor. But what does it entail exactly, and how does one make the shift to this VITAL role.

Key Takeaways

Advisory Role Transition: Emphasis on the shift from being a technician to an advisor, focusing on guiding clients to achieve their desired outcomes.

The Power of Knowledge: Highlighting the impact of a financial professional's knowledge in changing both life and business for clients.

Sherpa Approach: Concept of positioning oneself as a Sherpa, guiding clients through the treacherous journey of business growth and market changes.

Economic Downturn Challenges: Addressing the need for advisory services in the current economic climate post-COVID.

Client Needs Analysis: Importance of analyzing and understanding client needs to effectively plan and prepare for their success.

Success Triad: Introduction to the 'Success Triad' - Navigate, Elevate, and Support - as key elements in advising clients.

Signature System Creation: Guidance on creating a bespoke signature system tailored to the client’s needs.

Want more? Join THE FREEDOM TRIBE

Here's all the FREE BONUSES you'll receive when you join our exciting community on Skool; The Freedom Tribe

• Global Community Of Peers: CPAs, accountants, fractional CFOs, bookkeepers and finance professionals from all over the world sharing ideas, best practice and innovations with each other.
• Digital copy of Amanda's NEW BOOK, the Business Advisor Playbook: 300+ pages that will transform your approach and share the strategies you need to create, sell and deliver business advisory services.
• Digital copy of 500:200 Model™ Guide: My tried-and-tested formula for taking home at least 200K with business advisory revenue of 500K.
• 12 Days Of Business Advisory video series: that walks you through creating the perfect advisory offer.
• Hand Picked And Categorised episodes of the Business Advisor Podcast to accelerate your journey from a compliance-led to an advisory-led practice.

PLUS: There are a few other surprise bonuses that can be UNLOCKED once you are inside the community: Get Clients Course and 5 Day LinkedIn Challenge. Super excited to see you there, and looking forward to helping you achieve all that you want in life.

-
Speak to you in the next episode...

One of the biggest hurdles in finding advisory clients is the difficulty in articulating what exactly it is and the value that it provides. Creating a model and and an offer that is easy to talk about, easy to understand and can be explained visually as well, is key to showing the value of your advisory services.

Recap / Takeaways

Simplicity in Advisory: Emphasize the straightforwardness of being an advisor - thinking of something you know that helps business owners and helping them with it.

Offer Diamond: Introduction of the 'offer diamond' concept, a targeted approach to creating advisory offerings that cater to specific client needs.

Enhanced Client Engagement: Discusses how the right offer can significantly increase client engagement and the perceived value of services.

Signature System: Brief mention of the signature system, a unique methodology for guiding clients from their current challenges to desired outcomes.

Five Components of the Offer Diamond:

1. Clear Outcome
2. Specific Time Frame
3. Right Pricing
4. Targeting the Right Person
5. Appropriate Delivery Method

Freedom as the Motive: The ultimate goal is to achieve freedom for both the advisor and the client.

Want more? Join THE FREEDOM TRIBE

Here's all the FREE BONUSES you'll receive when you join our exciting community on Skool; The Freedom Tribe

• Global Community Of Peers: CPAs, accountants, fractional CFOs, bookkeepers and finance professionals from all over the world sharing ideas, best practice and innovations with each other.
• Digital copy of Amanda's NEW BOOK, the Business Advisor Playbook: 300+ pages that will transform your approach and share the strategies you need to create, sell and deliver business advisory services.
• Digital copy of 500:200 Model™ Guide: My tried-and-tested formula for taking home at least 200K with business advisory revenue of 500K.
• 12 Days Of Business Advisory video series: that walks you through creating the perfect advisory offer.
• Hand Picked And Categorised episodes of the Business Advisor Podcast to accelerate your journey from a compliance-led to an advisory-led practice.

PLUS: There are a few other surprise bonuses that can be UNLOCKED once you are inside the community: Get Clients Course and 5 Day LinkedIn Challenge. Super excited to see you there, and looking forward to helping you achieve all that you want in life.

-
Speak to you in the next episode...

In this, the first episode of the Business Advisor Podcast, your host Amanda C. Watts outlines the benefits of an advisory offer (for you and your clients) and why it is such an important role to take.

Key Takeaways:

Transition from Technician to Advisor: Amanda discusses the transformation from being a technician working in your business to becoming a business advisor, offering high value and achieving wealth and freedom.

Designing Your Business and Life: Emphasizes creating a life and business by design, tailored to personal aspirations and values, and stepping into a role that's more advisory and less operational.

Earning Potential and Work-Life Balance: Highlights the potential to earn significant income (up to half a million) while working limited hours per week, emphasizing the importance of work-life balance.

Global Success of Advisory Model: The advisory model's success is not limited to one region; it's a globally applicable strategy.

Mindset Shift: Stresses the importance of shifting from a fixed mindset to a growth mindset and from being a faceless technician to a visible and respected advisor.

Identity Transformation: Discusses the journey of rediscovering and growing one's identity from a traditional business operator to an advisory role.

Empowering Clients and Personal Fulfilment: Focuses on the role of an advisor in empowering clients and finding personal fulfilment and meaning in contributing positively to others' lives.

Building a Supportive Community: Encourages building a practice model where you're supported by a community that shares the same goals and values.

Want more? Join THE FREEDOM TRIBE

Here's all the FREE BONUSES you'll receive when you join our exciting community on Skool; The Freedom Tribe

• Global Community Of Peers: CPAs, accountants, fractional CFOs, bookkeepers and finance professionals from all over the world sharing ideas, best practice and innovations with each other.
• Digital copy of Amanda's NEW BOOK, the Business Advisor Playbook: 300+ pages that will transform your approach and share the strategies you need to create, sell and deliver business advisory services.
• Digital copy of 500:200 Model™ Guide: My tried-and-tested formula for taking home at least 200K with business advisory revenue of 500K.
• 12 Days Of Business Advisory video series: that walks you through creating the perfect advisory offer.
• Hand Picked And Categorised episodes of the Business Advisor Podcast to accelerate your journey from a compliance-led to an advisory-led practice.

PLUS: There are a few other surprise bonuses that can be UNLOCKED once you are inside the community: Get Clients Course and 5 Day LinkedIn Challenge. Super excited to see you there, and looking forward to helping you achieve all that you want in life.

-
Speak to you in the next episode...