Start your business
Start your business
Run your business
Run your business
Grow your business
Grow your business
Accountants and Bookkeepers
Accountants and Bookkeepers
- Accountants and Bookkeepers
  Learn how accountants and bookkeepers can be productive in these articles & guides
- Learning and Development
  A range of informative content to enhance your QuickBooks experience.
Updates
Updates
- Product Updates
  Watch this space for monthly product updates.
- Intuit News
  Latest news, articles & guides

Need help choosing a plan?

1800 917 771 Schedule a call

Schedule call

accountants and bookkeepers

How to identify your ideal client advisory services prospects

By Carla Caldwell

March 20, 2024

Once you’ve identified the business needs among your current clients that could be met by client advisory services, and you’ve assessed the strengths and aptitudes of your team. You’ve done the first step in addressing the “people” part of the people, processes, and technology approach to developing a client advisory services (CAS) practice.

Still working on this part? Read more about assessing your clients and your team to help you identify your firm’s CAS menu.

Now you’re ready to take the next step in offering advisory services, but how should you engage your first CAS clients?

Every client is different. You probably have clients who have a firm grasp on financial statements and cash flow management. They may already know how to leverage their balance sheet to meet the needs of their business and market. Other business owners run their organisations based solely on gut instinct—and couldn’t tell the difference between a P&L statement and a tablet of ancient Egyptian hieroglyphics.

Yet both clients need an advisor to provide objective, expert advice about their finances and operations. That’s where you come in.

Focus on a few clients

While you could feasibly offer advisory services to every client, a more realistic approach is to choose a subset of clients who are most likely to benefit from advisory based on an analysis of your client list. One method to do this was explained in the previous post in this series.

It doesn’t hurt to have a general idea which advisory services you want to provide, allowing you to match those services with the type of client best suited for them. You can also rate your client list based on how much you and your team enjoy working with each client. Whatever method you choose, work your way down to a practical number of clients you want to target with an advisory services offer.

Start with a coffee with your ideal CAS prospects

The next step in the process is to start having conversations with this short list of clients. Don’t worry! You are not pitching any services at this point, and since they are already clients who trust you, there’s little chance they’ll turn you down to meet.

Remember, you’re still in the exploratory and information-gathering stage. This doesn’t necessarily have to feel like boardroom meetings.

Grab some coffee or sit down together for a meal. If your client isn’t nearby, schedule an online meeting. Either in person or remote, Initiating these conversations shows you care about your clients’ personal and professional success. Engaging them with thoughtful questions will help you grow these relationships, an important aspect of successful advisory.

Questions to guide exploratory conversations with CAS prospects

Come in with an open mind, be curious, and be ready to ask follow-up questions that encourage more dialogue. The goal here is to get your clients to open up, and share thoughts and concerns relating to their business.

While you might know the answers to some of these questions because they are clients, you’ll want to get their input. In addition, you might want to float these questions to your client before meeting with them to give them time to think about their answers and get together any materials they may need to provide the most accurate information.

What keeps you up at night? In other words, what worries you? How have supply chain issues affected your business? Do you have trouble getting products or materials on hand?
What area of your business needs the most help? How could guidance from an outside expert bring value in that area?
What part of the business takes up most of your time? Which processes could be more efficient?
What are your goals for the business over the next year or two? What is the overall value of your business? What are your growth plans? Have you considered an acquisition? If you had additional capital, how would you use it?
What does the next chapter look like for you, personally? Are you planning to retire or sell the business? Is there a succession plan in place?

A person is sitting in front of a computer.

Take a few minutes afterward to summarise the conversation in writing. Keep everything! The responses from your clients will give you an overarching sense of their needs. Compare the feedback against your team’s strengths, and you’ll be well on your way to developing a scope of advisory services that makes sense for your firm.

Narrow your prospects list and assess clients for fit

Depending on the size of your firm, you may want to continue narrowing your list of potential advisory clients. You should end up with a group of favoured clients that will benefit from your advisory services. Congratulations on identifying your ideal candidates!

Now that you’ve shortened your list, you’ll want to know even more about each individual client. This information will help you create a profile for new clients who are not already with your firm.

At this stage, you’re looking for both professional and personal demographics:

Specific industry: Move from “construction” to more granular descriptors such as “residential renovations” or “commercial roofing.”
Business stage: Is this a startup in its first year vs. a startup of 1-5 years? Is growth by acquisition vs. growth by sales? Is the intent for succession to go to existing staff member(s) vs. succession by sale?
Owner profile: Get to know the owners. When we start talking about marketing your advisory services, knowing that you have several female sole proprietors who are married, have an average of two kids each, love to play pickleball, and are in their late 40s will give you insights into how to connect with them. That interaction will look completely different than the business with a 50-something male owner who is single, loves basketball, and listens to John Coltrane.
Other information: This could include age range, gender identity, and family status. Whatever else that helps you connect on a personal level is helpful.

Don’t forget to add these categories and data points to your master client spreadsheet or CRM.

As you get to know your clients’ interests and business goals, you are going to find it much easier to have natural, engaging conversations. You will start to “speak their language” so they can hear you when you share how your new advisory services can help their businesses grow.

Learn more about Client Advisory Services

Building your Client Advisory Services offering is about people, processes, and technology. Download our Grow Your Firm CAS eBook to learn more, or read more about these elements in our client advisory services series:

People

Processes

Firm operations

To niche or not to niche: That is the question

accountants and bookkeepers

5 steps on how to build trust and win new clients

June 18, 2024

accountants and bookkeepers

Driving team efficiencies and retaining top talent with training and technology

June 14, 2024

accountants and bookkeepers

Driving Efficiencies with AI

August 27, 2024

Looking for something else?

Get QuickBooks

Smart features made for your business. We've got you covered.

See how it works

Help Me Choose

Use our product selector to find the best accounting plan for you.

Choose your product

QuickBooks Support

Get help with QuickBooks. Find articles, video tutorials, and more.

Start learning

A computer screen showing a picture of a computer.

TAKE A NO-COMMITMENT TEST DRIVE

Your free 30-day trial awaits

Our customers save an average of 9 hours per week with QuickBooks invoicing*

No credit card needed

Cancel anytime

Unlimited support

By entering your email, you are agree to our Terms and acknowledge our Privacy Statement.

- - QuickBooks reserves the right to change pricing, features, support and service at any time. Prices are in AUD and include GST. See our Terms of Service for further information.
  - Pricing: All prices are in AUD and include GST.
  - ProAdvisor Program: Please find the terms of our ProAdvisor program here.
  - 50% off for 3 months: For new subscribers, enjoy a 50% off price subscription on QuickBooks Online Simple Start, QuickBooks Online Essentials or QuickBooks Online Plus for the first 3 months of your subscription (Offer). The discount will applied from the date of your enrolment and will continue for 3 months. From month 4, you will be charged the then current monthly retail price for your subscription. See current prices here. QuickBooks Payroll and QuickBooks Time prices are not eligible for any discount and will be invoiced separately according to your usage on a monthly basis during your subscription. Intuit reserves the right to request information to verify the eligibility of a purchaser of the Offer. Acceptance of such verification information is at the reasonable discretion of Intuit, which may revoke the Offer and impose a monthly cost for the subscription at the then current retail prices, at any time if it considers the purchaser is ineligible for the Offer.
  - 50% off for 12 months: For new subscribers, enjoy a 50% discount off the current monthly retail price for QuickBooks Self-Employed, QuickBooks Online Simple Start, QuickBooks Online Essentials or QuickBooks Online Plus for the first 12 months of your subscription (Offer). The discount will applied from the date of your enrolment and will continue for 12 months. From month 13, you will be charged the then current monthly retail price for your subscription. See current prices here. QuickBooks Payroll and QuickBooks Time prices are not eligible for any discount and will be invoiced separately according to your usage on a monthly basis during your subscription. Intuit reserves the right to request information to verify the eligibility of a purchaser of the Offer. Acceptance of such verification information is at the reasonable discretion of Intuit, which may revoke the Offer and impose a monthly cost for the subscription at the then current retail prices, at any time if it considers the purchaser is ineligible for the Offer.
  - 50% off for 3 months (existing subscribers): For existing QuickBooks subscribers who upgrade to QuickBooks Online Essentials, Plus or Advanced, enjoy a 50% discount off the current monthly retail price for 3 months of your subscription (Offer). The discount will be applied from the date you upgrade in-product and will continue for 3 months. From month 4, you will be charged the then current monthly retail price for your subscription. See current prices here. QuickBooks Payroll and QuickBooks Time services and prices are not eligible for any discount and will be invoiced separately according to your usage on a monthly basis during your subscription. Intuit reserves the right to request information to verify the eligibility of a purchaser of the Offer. Acceptance of such verification information is at the reasonable discretion of Intuit, which may revoke the Offer and impose a monthly cost for the subscription at the then current retail prices, at any time if it considers the purchaser is ineligible for the Offer.
  - Free Trial: First thirty (30) days of subscription to QuickBooks Online, QuickBooks Self-Employed and QuickBooks Payroll (including QuickBooks Advanced Payroll), starting from the date of enrolment, is free. During the free trial, you may pay any number of employees using QuickBooks Payroll free of charge. To continue using QuickBooks after your 30-day trial, you'll be asked to present a valid credit card for authorisation and you'll be charged monthly at the then-current fee for the service(s) you've selected.
  - QuickBooks Payroll powered by Employment Hero: Payroll services are offered by a third party, Employment Hero. QuickBooks Payroll is only accessible via QuickBooks Online subscriptions. You will be charged $6.00 (incl. GST) per month for each ‘active employee’ paid using QuickBooks Payroll. An ‘active employee’ is one who has been paid at least once in the billing month. For Advanced Payroll, there is an additional monthly subscription fee of $10 (incl GST). Pricing, terms and conditions, including service options, are subject to change.
  * Employment Hero was voted the leading payroll solution for SMBs <50 employees (Australian Payroll Association 2021 Payroll Benchmarking Study)
  - Customer support: Call or chat to an expert for QuickBooks Online Accountant, QuickBooks Simple Start, Essential, Plus, and Advanced or use in-product QB Assistant and chat for QuickBooks Self-Employed. You'll also find useful resources in the QuickBooks Community.
  - Compatible Devices: QuickBooks Online, QuickBooks Self-Employed and QuickBooks Payroll require a computer with Internet Explorer 10, Firefox, Chrome, or Safari 6 and an Internet connection (a high-speed connection is recommended). The QuickBooks Online mobile app works with iPhone, iPad, and Android phones and tablets. QuickBooks Online and QuickBooks Payroll are accessible on mobile browsers on iOS, Android, and Blackberry mobile devices. Devices sold separately; data plan required. QuickBooks Payroll cannot be used on the mobile apps. Not all features are available on the mobile apps and mobile browser. QuickBooks Online mobile access is included with your QuickBooks Online subscription at no additional cost. Data access is subject to cellular/internet provider network availability and occasional downtime due to system and server maintenance and events beyond your control. Product registration required.
  - Get paid faster: Get paid 2.5x faster invoicing with PayPal
  * PayPal and QuickBooks customers get paid on average in less than 5 days, which is over 7 days faster than the average for invoices that get paid with other payment methods. Data is for paid invoices that were created in QuickBooks in Australia between 23.05.22 and 23.11.22
  - Tax deductions: Tax deductions not guaranteed due to being subject to user data entry errors. Mileage calculation provided by the Australia Taxation Office - 85 cents per kilometre for the 2023-2024 income year. To a maximum of 5,000 business kilometres per car (Deductions are only applicable to cars)
  - Customer Service Awards: Excellence in Customer Service Award at the CX Australia Awards 2022
  - Multiple file discount: Multiple file discount applies to QuickBooks Australia customers only and valid when signing up for more than one QuickBooks Online subscription in one order. Further terms and conditions available here. Not applicable to QuickBooks Self Employed.
  - Reviews: GetApp, Capterra, Google Play Store, Apple App Store reviews as at date 08/01/24.
  - Cost per day claim (annual): Based on a QuickBooks Simple Start plan at its regular retail price of $313 per year and a 365 day year.
  - Annual Billing: You may pay for your QuickBooks Online subscription on an annual, upfront basis to enjoy a discount on the current fees. If you use QuickBooks Payroll powered by Employment Hero, your payroll costs will still be charged monthly to your nominated payment method in accordance with your usage as set out here. If you cancel your QuickBooks Online subscription within the pre-paid 12 month period, you will not be eligible for a refund, but will retain full access to your QuickBooks Online subscription for the remainder of the 12-month period. Unless cancelled by you prior, your annual subscription will auto-renew on the 12 month anniversary of your sign-up date using the billing details you have given us. Discounts, prices, terms and conditions are subject to change.
  - Over 7 million customers: Based on number of global QB customers (ecosystem) (7.1m) worldwide as of October 2022.
  - Free Onboarding: Applicable to Buy Now subscriptions on QuickBooks Simple Start, Essentials and Plus plans. Not available for QuickBooks Self-Employed.
  - Save Hours: Save up to an average of 29 hours per month with QuickBooks.
  - * Based on a survey conducted by Intuit Australia Pty Ltd in September 2022. Time saving is in comparison to previous accounting method, based on 184 responses from customers that saw time savings.
  - Get access to QuickBooks Tax: ***Access QuickBooks Tax, powered by LodgeiT, by becoming a member of the QuickBooks ProAdvisor Program (it’s free to join). Find out more about the ProAdvisor Program here, including the terms of the QuickBooks Tax offer in the Program here.
  - QuickBooks Time Disclaimers & Offers for Australia: For Important pricing offers and disclaimers with further information, please see here.
  - *Full terms and conditions for access to QuickBooks Tax, powered by LodgeiT as part of the the Proadvisor Program can be found here. QuickBooks reserves the right to change pricing, features, support and service at any time.
  - **Intuit conducted a study involving 56 interviews with accountants and bookkeepers who used Books Review for BAS preparation between March to December 2021 and found that when using Books Review, participants reduced the time spent preparing their clients BAS Reports by around 40%.
  - Our Terms of Service apply to all QuickBooks Online subscriptions. Please review them carefully.

Intuit helps put more money in consumers’ and small businesses’ pockets, saving them time by eliminating work, and ensuring they have confidence in every financial decision they make.

How to identify your ideal client advisory services prospects

Focus on a few clients

Grow Your Firm With Client Advisory Services

Start with a coffee with your ideal CAS prospects

Questions to guide exploratory conversations with CAS prospects

Narrow your prospects list and assess clients for fit

Learn more about Client Advisory Services

Related Articles

Looking for something else?

Get QuickBooks

Help Me Choose

QuickBooks Support

Your free 30-day trial awaits