Your Secret Weapon
Business owners are stuck.
They not only need someone to talk to that understands. They crave it.
Specifically, business owners crave someone to talk to that can:
a. Empathize with them.
b. Help them understand what’s going wrong.
c. And, help them know what to do next.
Think about it, when something is going wrong in your life, wouldn’t you want a kind shoulder to lean on? Someone that can empathize with your struggle, help you understand what went wrong and help you figure out what to do next?
Business ownership is hard. Really hard. It’s lonely, can be overwhelming, and sometimes creates unbearable stress.
It’s no wonder business owners crave someone to talk to. Someone that ‘gets it’.
There’s not that many people in the business owners lives they can turn to. There’s not that many people that ‘get it’.
But you do.
You get it.
All of us have some sort of financial background. Whether you’re a CPA, accountant, or bookkeeper, one thing is for sure — you understand the financials of a business.
You know how to ‘read the score’ and tell if the business is winning or losing.
You have an idea of what the business needs to do to improve profitability and cash flow.
So, because of this, you’re in the best possible position to be the person that business owners can turn to.
(By the way, if you can fill this role, you’ll make way more money than your peers who are simply doing compliance work).
All you need now is a way to do the three things the business owner craves. Specifically, a way that will allow you to:
a. Empathize with them.
b. Help them understand what’s going wrong.
c. And, help them know what to do next.
Enter your secret weapon. Having monthly meetings with your client.
Monthly meetings are simply a meeting that you and your client sets aside for approximately an hour a month.
This is sacred meeting. A time for just you and your client.
A time for you to give your clients guidance.
A time for your client to talk to someone that gets it.
The monthly meeting is also a system. A system that’s inherently designed to do three things:
a. Give you time and space to empathize with your client.
b. Give you time and space to help your client understand what’s going wrong (or right!)
c. Give you time and space to guide your client to know what to do next.
Let’s take a brief look and each element in your secret weapon system:
Empathize
The very definition of emphasize is to understand and share the feelings of another.
You can’t do this on an email. You can’t do this through reports. You can’t do this on an annual ‘tax review’ call.
You can only do it when you (a human) and your client (a human) are having a human-to-human interaction — either in person, phone or video conference (i.e. Zoom).
You can only do it when you have the time and space to make it happen.
The monthly meeting is a system designed to give you that time and space.
Understand
Your client doesn’t want to be an accountant.
Because they’re not accountants, we can’t expect them to understand accounting reports (e.g. P&L, Balance Sheet).
Therefore, one of the most important jobs we, as their CFO/business advisor, have is to help our clients understand what’s going right and what’s going wrong in their business.
An accountant gives their clients reports.
A business advisor will give their clients understanding.
The business owner cannot take action unless they, first, understand.
You can only help your client truly understand their numbers when you have time and space to make it happen.
The monthly meeting is a system designed to give you that time and space.
What to do Next
In order for your client to become successful (however they define it) they need a clear path. They need to know exactly what steps they should take next.
They need a plan of action.
Nothing happens in the business without the business owner taking some sort of action. Our job, as their business advisor, is to motivate them to take action.
So, we’ve got to motivate them to take action…on the things that will have the biggest impact on helping them and their business become successful.
The best plans of action happen when you and your client come together and brainstorm. And discuss. And ponder. And dream. And share ideas. And think.
You can only do these things when you have time and space to make it happen.
The monthly meeting is a system designed to give you that time and space.
The monthly meeting is your secret weapon. Are you using it well? Or even at all?
Are you an accountant that gives your clients reports?
Or are you a business advisor that gives your clients understanding?
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