Podchaser Logo Rate on Podchaser

Episode 56

full
Published on:

21st Apr 2023

Setting Clear Expectations with Clients

In this episode, Damien and Penny share their experiences working with accounting firms around the world and provide valuable insights on how to avoid dropped balls and miscommunications with clients. They emphasize the importance of intentionally building businesses in the accounting and bookkeeping industry.

The conversation today highlights setting clear expectations with clients and ensuring that both parties are aware of their responsibilities.

Tune in as Damien and Penny for an engaging and insightful conversation on the importance of building strong client relationships and not letting perfectionism get in the way of progress!

[00:01 - 06:27] Opening Segment

  • Damien and Penny focus on client relationships and progress over perfection
  • They emphasize clear communication and systemized follow-up to maintain strong client relationships  

[06:28 - 14:14] Setting Clear Expectations With Clients

  • The importance of setting clear expectations with clients - who's responsible for what (and by when)
  • The need for checklists and tasks for clients to follow - maybe even calendar appointments
  • Onboarding contract with clear bullet points and due dates
  • Challenging the client hierarchy changes and access to applications

[14:15 - 21:29] The Importance Of Checklists And Communications

  • Asking clients what they want/need in terms of communication frequency
  • Consider changes in the client’s business and adjust communication accordingly, from monthly meeting to quarterly once milestones are hit
  • Accountants/bookkeepers should look at changes in the client’s business (revenue/employees/transactions) to suggest improvements

[21:30 - 36:06] Closing Segment

  • Damien and Penny shares their advice with their listeners about building trust with clients through extra work and value-add services

Tweetable Quotes

“Make sure that the client knows that to help you achieve your goals, this is what you need to do for us, so that we (your accountant/advisor) can give you what you've signed up for.” - Penny Breslin

“I don't think we often ask the client, if they getting what they need, in the right sort of timeframes that they need the information. So, I think that's something that we can definitely incorporate into the engagement process and the re-engagement process. An actually why wait, just ask your client today. Are you getting what you need from us” – Damien Greathead

-----------------------------------------------------------------------------

Thank you for listening, please like and share this episode with a friend! And connect with us on LinkedIn if you have any questions you'd like us to tackle on an episode.

Websites: https://moneypennyllc.com/

LinkedIn: https://www.linkedin.com/in/damiengreathead/

Twitter: @Damien_GH

LinkedIn: https://www.linkedin.com/in/penny-breslin-0228b81/

Twitter: @pennyb57

Next Episode All Episodes Previous Episode

Listen for free

Show artwork for Strategy and the Virtual Controller

About the Podcast

Strategy and the Virtual Controller
Helping accounts and bookkeepers build the firm they want, their way
Your hosts Penny Breslin and Damien Greathead have more than 30 years of combined experience in the accounting industry. This podcast is to share their experiences of working in, and consulting to accounting and bookkeeping firms of all sizes, helping them grow.

Nothing discussed will be rocket science, instead they'll be discussing 'how' firms have successfully, and not so successfully, pursued growth. Penny and Damien will be sharing their insights on how firms can be successful by focusing on their people (clients included), their technology, and their processes and systems.

Ultimately how successful an accounting business will be depends largely on how the owners manage change, which alongside taxes appears to be the only constant.

We do want to acknowledge David Maister's great read Strategy and the Fat Smoker: Doing what's obvious but not easy as the inspiration for our title. Buy it on Amazon - https://amzn.to/3dhcUFC

Subscribe today for an upbeat and practical conversation about what's working and what's not in accounting businesses around the world.

About your hosts

Penny Breslin

Profile picture for Penny Breslin
Penny Breslin is the founder of MoneyPenny, a consulting firm specializing in helping accounting firms and other businesses embrace the power of technology to simplify their operations and increase their profit margins.

Drawing on her years of experience and her knowledge of what it takes to run a successful business, Penny oversees the development of back office processes for her client firms. From the initial evaluation of the firm’s workflow, to technology selection, and assisting in the on-boarding of the firm’s clients, Penny works with her clients to maximize the benefits of a paperless and cloud-based firm.

Damien Greathead

Profile picture for Damien Greathead
Damien has been working in the accounting industry for more than 15 years. In addition to getting his hands dirty preparing tax returns and doing bookkeeping, but the bulk of his experience comes from consulting to both accounting firms and the technology companies that serve the industry.

He set up 2020 Group USA which was a membership group for small and medium sized accounting firms and then went on to set up Receipt Bank (now Dext) in North America.

He regularly speaks to industry bodies on technology, marketing and change management.