How to Start a CFO Service That Gets Real Results

 

Free Masterclass for Accountants, CPAs, Bookkeepers, and Enrolled Agents...
How to Grow Your Practice Through Business Advisory Services…Even in a Recession.
Add six figures to your practice by offering a service that your clients really want – especially in times of trouble.
In this live 1-hour masterclass, you'll learn:
  • Why now is the right time to pitch your clients a business advisory service.
  • How much you should be charging for a business advisory service
  • How to approach your clients about this service (and get them to buy)
  • How to provide a business advisory service in the most efficient way possible
  • How to know you’re providing a business advisory service that gets real results for your clients

 
Thursday Dec 8 at 3:00p ET
This masterclass is NASBA approved and qualifies for 1.0 CPE credit hour. Click here to see the CPE details.
FREE
MasterClass
  • 7
    DAYS
  • 00
    HOURS
  • 50
    MINUTES
  • 52
    SECONDS
Thursday, December 8th
12:00 PM Pacific Time
1:00 PM Mountain Time
2:00 PM Central Time
3:00 PM Eastern Time
Testimonials
Rebecca Burk (Hydrometrics, Inc.)
"You two were great; thanks for the info on providing a quality CFO service. I will definitely be connecting with you to learn more in the future."
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Veronica Wasek (VM Wasek CPA, LLC)
"Excellent presentation showing how accountants can provide CFO services. They showed how it is doable if you have a good system in place."
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Pierre Pinkerton (Jericho Business Advisors)
"CFO Project presentation WAS PHENOMENAL!!! Great info and clearly presented information compellingly explained."
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Scott Berry (Calculated Industries)
"Wow, what a great webinar. I learned valuable insight into marketing CFO services."
About the Masterclass
Accountants have one thing going for us that we consistently overlook.

Trust.

We have the trust of our clients.

They trust us with the most sensitive info they possess – their financials.

Let’s face it. Our clients don’t really know what we do.

They don’t know if we’re doing a good job, mediocre job, or a horrible job.

They simply trust we know what we’re doing.

Trust is a very powerful logical and emotional thing.

Logically, they see us as an authority on numbers. It’s a job they don’t want – nor understand. We seem to have the credentials to do what we do.

Emotionally…well, this is something we take for granted. And, it’s something we totally undervalue.

Most clients – especially business owner clients - don’t have that many people in their lives that they can trust. Especially with something as sensitive as their financials.

They can’t turn to their employees.

They can’t burden their spouse.

This is not a topic of conversation at a dinner party.

Most business owners are scared, lonely, overwhelmed. Being a business owner is an emotional roller coaster.

On top of that, they don’t understand their numbers. They don’t get it. Many never stepped foot in a college classroom.

But you do.

You get it. You understand their numbers. You have the qualifications. And your clients trust you.

And yet…

Most accountants are not capitalizing on this trust.

Most accountants are not giving their clients what they really want.

What do they want? Well..

Business owners want someone they trust. To tell them what to do. To have a growing and more profitable business.

Period.

They want someone they trust (again, you have this in the bag).

To tell them what to do (on a regular basis)…

To do the one thing they want more than anything – to have a successful, growing and more profitable business.

Business owners want to FEEL successful. They want to BE successful. They want their business to GROW.

They need help. They CRAVE this type of help.

If you – someone that already has their trust – can offer this to them, you can pretty much charge what you want.

As an accountant – you are in the best possibly position to offer an “outsourced CFO service”. You already understand financials. And, of course, you already have the trust of the target audience – business owners.

The missing piece is how to actually “tell them what to do to have a growing and more profitable business.”

This can be learned. (In fact, in our masterclass we'll show you step-by-step.)

So, the bigger question is does this makes sense for you?

Here’s a few reasons why offering a CFO would make sense…and why it wouldn’t.

Offering an outsourced CFO service would make sense if…

If your business clients are asking for it.
They might not directly come out and ask for a CFO service (in fact, this is highly improbable). However, are they indirectly asking for help? Are they saying things like “I’m making a lot of money but it’s not showing in my bank account – where did it go?” or “I’m working a ton but I can’t seem to make this thing work – I feel like I’m constantly spinning my wheels but not getting anywhere.” If so, this is a signal that they want some sort of guidance.

If you get the ‘dear-in-the-headlights-look’ when you give them their financials each month.
You know the look. It’s the “I know these reports are important because you give them to me but I have no idea what they mean but I don’t want to let you know that because I don’t want to seem ignorant. The only report that sort of makes sense is the P&L. However, I don’t understand the Balance Sheet and don’t even get me started with the Cash Flow Statement – I’m not even sure the numbers here are for my business…”

If you have a ton of competition.
Let’s face it. You do. You could be the best accountant in town but if your clients don’t see the difference between you and the thousands of others (they don’t) why would they pay you top dollar? Not only that, you’re not just competing with other accountants you’re competing with QuickBooks and Bench and all of the other SAAS businesses disguised as ‘financial services’ firms across the country.

If you need a way to increase your income.
The only way to truly – dramatically – increase your income is to scale. Scaling is being able to make more money without taking up more time. Offering a CFO service will allow you to leverage your time better. You could potentially make more money servicing one business owner client as their CFO than twenty clients as their accountant.

If you’re employed and want to start your own business.
If you’ve ever wanted to start your own business, you could open up a traditional accounting shop. However, you’ll need a TON of tax/bookkeeping clients to make this a reality. Much less to be able to replace your day job salary. Offering a CFO service is a way to quickly replace your salary because you only need about ten clients to make six figures.

If you like the idea of being a financial guide/therapist/confidant.
If being able to guide and coach and teach gets you excited, then this might be a great route for you. Being an outsourced CFO is like being a financial therapist. Your clients will value the time you spend together because you’re helping them get better. They love having someone who ‘gets it’ to bounce ideas off of and, well, to simply vent. Again, most business owners don’t have someone in their lives they can do that with.

That being said, offering an outsourced CFO service might not make sense for you for two reasons…

If you don’t want to service business clients.
Whether you’re employed by an accounting firm or you’re self-employed, this doesn’t make sense if you don’t want to target or service business clients.

If you want to stay employed at your accounting firm.
Most people are simply not cut out to be a business owner. Many accountants got into this profession precisely because they don’t like risk. They love the idea of working for a major firm and getting the perks that come along with it. And there usually are some great perks.

Now, if you think offering an outsourced CFO service might be something you want to explore, we invite you to our upcoming masterclass called “How to Offer a CFO Service That Gets Real Results”. Register using the form above.

In this masterclass, we’ll discuss…

  • What business owners are looking for in a CFO
  • The steps required to start and offer a CFO service
  • A proven 6-step system to conduct a CFO service that gets results
  • The steps needed to sell the CFO service to new leads and to upsell to existing clients

We’ll also talk about some frequent objections that we hear. Things like…

My clients don’t need a CFO
You’re right, but they do need someone they trust to help them make more money. Whether you call yourself a CFO or something else almost doesn’t matter.

I’m not qualified to be a CFO
You may not be qualified to be Coca-Cola’s next CFO but you’re probably qualified to guide a business doing between $1mm and $10mm in annual revenue.

My clients can’t afford this
If someone wants something bad enough, they’ll afford it.

All I know is accounting. I’ve never ran a business before.
You have two major things that most business coaches don’t have. Trust from business clients from the get-go and an understanding of the numbers. Most business coaches can’t even explain how the advice they give will affect cash flow.

I don’t really know how to sell this service.
This is tricky. You can’t go up to a client and pitch your CFO service. They don’t know what a CFO is, nor will they think their small business needs one. In our masterclass, we’ll show you how to pitch it to them in a way that gets them to take action.

If offering a CFO service sounds interesting and you’d like to learn more, join us for our upcoming masterclass on “How to Offer a CFO Service That Gets Results.”
About the Presenters

Jeff Prager is a retired CPA, business owner, and entrepreneur for over 35 years. He's built multiple businesses into 7, 8, and 9-figure successes, including Ashworth Golf Clothing, and the second-largest privately-owned home builder in Colorado. His passion is helping business owners understand their numbers so they know how to have a better business.

jeff@thecfoproject.com | LinkedIn


Adam Lean is a former accountant turned 2-time entrepreneur who built, scaled, and sold two businesses. While helping other business owners, he realized his passion was teaching and providing tools to business owners to help them make more money and have a peace-of-mind.

adam@thecfoproject.com | LinkedIn
CPE Details
Available Date: Click to see available date.

Cost: Free
CPE Credits: 1.0 hour
NASBA Field of Study: Business Management and Organization (1.0 hour)
Program Knowledge Level: Basic
Instructional Method: Group Internet based
Prerequisites: None
Advanced Preparation: None
Delivery Method: Group Internet Based


Learning Objectives:
  • Recognize what business owners are looking for in a CFO/business advisor
  • Identify the steps required to start and offer a CFO service to business clients
  • Recall a proven 6-step system to conduct a CFO service that gets results
  • Determine the steps needed to sell the CFO service to new clients and to upsell to existing clients

Frequently Asked Questions:
  • To receive CPE credit, you must register for the course prior to the start of each program and login no later than the scheduled start time for the event. You must also answer the polling questions that will be asked throughout the presentation. 
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • To receive CPE for multiple attendees, at least one person must sign up for the webinar. The person who is logging in on behalf of the group cannot be someone who is also attending for CPE credits. CPAs can not self attest and so this person cannot be awarded credits.
  • The post-webinar email contains a link to instructions for the proctor letter.
  • For more information, see our CPE Administration Policies by clicking here.

TheCFOProject.org (Sponsor Id#: 148330) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

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or our CPE Administrative Policies

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