Advisory services are the future for accounting firms looking to add value beyond compliance. But how do you get started? More importantly, how do you scale without overextending yourself?
David Ross, CEO at Direction Staffing Solutions, recently sat down for a conversation on Mastering CAS, where he shared a step-by-step approach to building a client advisory service from scratch. From choosing your advisory "flavour" to implementing low-risk offerings and creating a structured sales process, this guide walks through his insights and practical advice.
Want to hear the full story?Listen to this episode of Mastering CAS today.
Step 1: Choose Your Advisory "Flavour"
Not all advisory services are created equal. Before launching into advisory work, you need to decide what kind of advisory services you want to offer.
David Ross calls this choosing your advisory "flavour". He explains:
"You've got to choose that flavour at the outset. Sure, you can change path as you go along, but if you just go in and jump straight into offering whatever it is that clients want, you're really not going to be able to have a good model of products and services. You’re just making it up as you go along."
For David, the focus is on small business planning and accountability, but other accountants might lean towards succession planning, asset protection, or business valuations. The key is aligning your services with both your expertise and your client base’s needs.
Step 2: Start Small with Low-Risk Offerings
Jumping straight into high-ticket advisory services can feel overwhelming. Instead, start small with low-risk offerings that build trust and confidence, both for you and your clients. Some ideas include:Webinars on key business topics Run a short, informative session on cash flow, pricing strategies, or business growth.Mini check-ups Offer a simple, structured review of a client’s business to identify opportunities for improvement.Hidden profits check-up A quick, practical exercise using the "four ways to grow a business" framework.
These offerings are low-cost and easy to execute, making them a great way to test the waters. As David puts it:
"Even if you’re just running a webinar to your own client base, you’re starting to position yourself as something different."
And don’t give away too much for free. David suggests charging a small fee.
Step 3: Measure Success with Clear KPIs
How do you know if your advisory services are working? You need measurable success indicators. David suggests tracking:
Webinar attendance and conversions: How many people register? How many purchase a follow-up service?
Product uptake: If you introduce a $300 advisory check-up, how many clients opt in?
Client progression: Are clients moving from entry-level advisory services to more advanced engagements?
A 10% conversion rate from a free webinar to a paid service is a good benchmark. If you get 30 people on a webinar, aim for at least three to purchase a small advisory product, and at least one to move into a larger engagement.
Step 4: Scale When the Time is Right
Once you’ve gained traction with smaller offerings, how do you know when it’s time to scale? David advises waiting until you’ve successfully taken several clients through your advisory model. Scaling requires confidence and proof that your services deliver real value. Focus on refining your offerings and developing a clear service structure before expanding.
Step 5: Manage Client Expectations & Boundaries
Advisory work is different from compliance, it often involves ongoing conversations and ad-hoc advice. So, how do you prevent clients from calling you 24/7 without hesitation?
David uses a "Coach on Call" model, which allows clients to reach out between meetings on a fair-use basis. He explains:
"If you're going to ring me every day, we’re probably going to have to re-evaluate what we’re charging. But if you have something that’s burning at you, I want you to ring me rather than think, 'I don’t want to pay for it.’"
Interestingly, most clients don’t abuse this access, but having it in place adds perceived value to the service.
Step 6: Use a CRM to Track Leads & Follow-Ups
A structured sales process won’t work unless you have a proper system to track leads and opportunities. This is where a CRM (Customer Relationship Management system) becomes invaluable. Even small firms can benefit from simple CRM tools, using anything is better than nothing.
The path to successful advisory services doesn’t start with massive consulting projects. It starts with small, structured steps.
So, are you ready to take your accounting firm beyond compliance and into high-value advisory services? What’s your first step going to be?
Ready to get started?Listen to the full episode of Mastering CAS to get started.
