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Case Study

Accounting Firm Scales with Accountant Coaching

Goals Goals

  • Find ways to bring new value to existing clients
  • Become a top 1% accountant
  • Increase firm efficiency by streamlining sales, service delivery and client collaboration

Key Benefits Experienced Key Benefits Experienced

  • Increased net profit to nearly 50%
  • Helped 50+ small business secure PPP loans
  • Streamlined client collaboration by implementing Corvee Software
accountant wearing a tuxedo

“Most businesses need help, but don’t know what they need help with. I already knew that while great opportunity likely existed with external marketing for new clients, I had tons of opportunity I wasn’t taking advantage of with my existing clients. 7 Figure Firms helped me with internal marketing and getting new, additional services prepared as value-adds for my current clients.”

BILL CLAWSON

Bill Clawson, owner of Quantum Business Solutions in Missoula, Montana, is a former entrepreneur turned accountant. He has taken that same entrepreneurial mindset from the business world into his new accounting firm. Currently, Mr. Clawson is tracking to more than double his revenue in 2020 from what he was doing in 2017 before he joined 7 Figure Firms. One of his main goals when joining 7 Figure Firms was to figure out how to add more value to each existing client so he could also add additional revenue. Here is his story on what the program has done for him and the results he has achieved.

Average Accountant vs. Outsourced CFO

For many years, I was a business owner. I was in an industry that had nothing to do with the world of accounting, except for the fact I used an accountant for compliance services such as tax returns and so forth. It wasn’t until 2012 that I opened a new chapter in my life and became what I call “The Outsourced CFO.” I always wanted to be different than the average CPA, and with my business background, I felt I could have a unique mindset for my clients where I could help them see opportunities that they themselves couldn’t yet see. 

While I was building my accounting firm, I was having trouble figuring out how to build the business beyond just me. When I came across 7 Figure Firms and joined the program, I began to understand how to evolve my business to bring clients additional value, and I’ve since developed both personally and professionally. Today, all my existing services have increased 10-25% in price and I’m shooting for 50% net profit on each engagement.

Using Accounting Slide Decks to Market and Sell

When I first got into the 7 Figure Firms program, I mainly only used the sales material. I wanted to develop additional tools to help clients and add revenue to my firm—not by adding new clients necessarily, but by providing additional value to my existing clients. At the time, my firm was doing 50% tax services and 50% advisory, but I had the desire to increase the amount of advisory work I would be doing moving forward. The tax planning and CFO slide decks inside 7 Figure Firms helped me put together the best service and pricing strategies to add value to my clients while simultaneously bringing my accounting business more revenue.  

That said, at this point I still wasn’t using the program to its fullest. To illustrate this, imagine a doctor who has a heart attack patient, and the doctor encourages the patient to get the most expensive gym membership possible. The patient asks why, and the doctor replies, “So you’ll use it.” Likewise, I realized I had access to the best “accountant gym” available, but wasn’t taking full advantage of all there was inside of it. I needed to commit more. 

7 Figure Firms Accounting Events

Once I realized I needed to get more involved beyond just using the sales slide decks, I booked my spot at one of the program’s live events—which 7 Figure Firms hosts several times per year. They are great accountant coaching events that cover a wide variety of timely topics including current legislation, how to better serve your clients and how to grow your accounting practice. While the digital content in the program is vital, the in-person events were even better because I got to network with other top accountants in the industry.

The event I attended proved to be a major catalyst of growth for me. I began doing less just looking in the rearview mirror and reporting, and more looking to solve problems and see what could be done in the future to increase profitability and revenue for my clients. This is where there’s so much opportunity for most accountants and what I was missing: upselling existing clients to higher level, future-oriented advisory services

Selling Money and Wartime CFO

As the value of my services has increased, I’ve received more referrals. It’s compound interest. More value = more referrals, and more referrals = more revenue. At the end of the day, I’m selling my clients money. I can help clients either save or produce more money—and it’s always more than the cost of my services. 

Service delivery is not the value. Value is where you help clients make decisions based on the service you just delivered. This is why I’ve learned to be more proactive with clients instead of mainly reactive. I ask the question, “How do I never tell my client no?” when they come to me for help. That’s why I look to keep adding solutions to my arsenal. As an example, during the pandemic of 2020, I really embraced the new programs Andrew Argue came out with. I sold 50 PPP loan consultations during a short period of time to help my clients through a difficult time.

Taking Full Advantage of an Accountant Coach

As I mentioned, I was using material inside the program to better market and sell, but I wasn’t using the material to grow my firm using a system. I had no way of scaling without building a system to go beyond myself, because I was hitting a point where I couldn’t scale. The coaching with Andrew Argue has helped me repackage my services, value my time and worth, and maximize the value that I bring to the clients.

“I no longer price by the hour, instead I price by the gig. I’ve taken the same mindset as what’s taught inside 7 Figure Firms—of always outlearning of whatever problem comes your way. What I mean by that is an approach that you’ll always figure things out. If a client has a new problem, you can learn the solution. If a new law comes out, you can learn how it applies to your client. If a new situation arises, you can learn how it will impact your client. It’s a subtle mindset that pays huge dividends!”

Building an Accounting Firm as a Business

An accounting firm is a business, it’s not just about service delivery. It’s about developing yourself and the business around you. But service delivery is always a big part of the business, that’s why I invested in Corvee Software. It helps me handle everything from sending file requests to clients to having them sign engagement letters all in one place. When I decided I wanted to grow my accounting firm exponentially, I needed a tool that could better organize the way I communicate with all my clients in one place while bringing them greater convenience as well. This helps me be less scattered and more efficient as the firm grows 

As I continue to optimize my accounting firm, I know that 7 Figure Firms coaching along with Corvee software will be a big part of my ongoing success in the years to come!  

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