Specialty: Accounting
Size: Small Firm
Annual Revenue: $250K – $1M
You have a few people on your team and a handful of clients. But what are the steps to build an efficient, systematized engine that delivers monthly accounting and CFO engagements at scale, without all of the burden resting on your shoulders? We’ll walk you through the technology, tools, training and partnerships required to turn your small accounting firm into a large organization.
You’re at the point where you need to design your systems to support the client experience from start to finish. Use our software to keep track of the most important things for your small accounting firm: your clients, requests and client payments.
Use our secure portal to request and receive all agreements, engagement letters, questionnaires, and file requests so you can see what’s needed from each client, what’s outstanding and what’s been received.
Use our secure portal to request and receive all agreements, engagement letters, questionnaires, and file requests so you can see what’s needed from each client what’s outstanding, and what’s been received.
When you’re a small accounting firm, you need to be charging up front, in full, before the month begins. Corvee Client Payments allows you full control over when you charge your clients ACH and credit cards so you’ll never have to chase invoices ever again.
Never hear the words “I can’t because the client didn’t send it” ever again. Corvee Client Collaboration holds staff and clients accountable with requests, reminders, and an executive dashboard to see where the information needed to do the work stands at all times.
You’ve done a great job yourself and with a few team members, but to grow to over $1M in annual revenue while maintaining profit margins, you have to make the transition from being a great accountant, to becoming a real business owner.
Confirmed Annual Revenue Growth From Our Small Firm Clients
Read Our Methodology Memo for how we calculate these numbers
When you’re offering accounting and CFO services, you need to work with small business owners that are doing at least $500,000 in annual revenue to be able to afford your fees and value your services. Use LinkedIn marketing, daily email newsletters and direct outreach to get 5-15 appointments every single week with business owners who are ready and willing to pay for monthly engagements over $1,000/mo.
The scope and price you negotiate with your clients is the number one indicator of whether you’re going to be making profit, or working tirelessly on a client that isn’t even paying a reasonable fee. In order to scale your firm to another level, every single month you have to look at your lowest margin clients, upsell them into CFO service or renegotiate your fees to new minimums to allow your team to grow while increasing profitability.
You cannot scale doing it all yourself. You’ve got to be able to step back from client engagements, duplicate your client service experience, and build a team that can deliver without you. This starts with having an accounting manager that can not just do the work, but can review, manage staff, and manage client expectations.
As you grow your firm, the size and complexity of your clients will grow as well. Their problems and challenges will become more unique, custom, and will need the expertise of services your firm doesn’t currently deliver. We’ll help you build a partnership to fulfill on these services while remaining the main financial contact for your client.
Your clients need help with maximizing deductions, legal entity structure, retirement, insurance, asset protection, and new legislation (TCJA, FFCRA, CARES, etc). You don’t want to outsource this to a low level contractor or someone that may walk away with your clients. We’ll help you build a partnership to save your clients money on taxes while keeping you at the center of the relationship.
Once they’ve got their business under control, you as an accountant and CFO have an obligation to ensure they are using that business to save money, invest, grow, and protect their livelihood and their family. You can partner with a professional to help your clients with wealth management which may include investments and insurance offerings.
You can share in tax planning fees even if you’re not delivering the services. Depending on your state, you may be able to share in investment advisory fees (1% AUM). These partnerships can create massive value for your clients while increasing your profitability through a passive revenue stream.
When you’re first running your firm, trying to figure out everything you need to know can be a challenge. The truth is, every challenge you’re facing has been conquered by another firm owner who was exactly where you are now. Let’s preview how to overcome some of your core challenges below.
Learn from other small accounting firms who have experienced growth and optimization with Corvee.
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