Accountants transitioning to advisory — One firm’s challenges and journey
In this week’s #FridayBeerstorming, MC met up with Prue McStay of Astute Mode. They discussed the challenges of transitioning to business advisory, finding the right team members, and even had their drinks confiscated!
Prue’s background is in advising and virtual CFO services, so the transition to advisory came as a form of natural progression. As she said, accountants want to help their clients, especially those clients who are like slaves, chained to their businesses. It’s rewarding to help people get out of situations like that.
Business owners can go to any old accountant and get their tax and compliance sorted. True business advisory that changes lives and free’s people from their business makes a difference on a whole other level.
And as we hear from our members all the time, your clients love you for it.
Watch the discussion with Prue here
It was a great chat, they touched on a lot of different ideas and problems plaguing modern accountants. Also discussed in this beerstorming session was:
- The genesis of Astute Mode’s name and branding
- Challenges with finding people with the skill-set to advise
- The profession as a people-centric profession rather than a calculation-centric profession
- How to attract ‘people-people’ to the firm
- Astutue Mode’s 5-step process for advisory