Introducing a new cash flow service to your clients - a conversation guide A client’s first cash flow conversation is an important one, but it doesn’t have to be difficult. What are the important questions you should consider before having that conversation?
@FloatApp
Sam Fairbairn, Key Account Manager, Float Sam is a Key Account Manager at Float, an operational, visual and easy-to-use cash flow forecasting solution for Xero. Sam works with practices worldwide to support them in scaling their cash flow services and learning what works and what doesn’t in the process. Float is used by thousands of businesses and accounting practices internationally, with the vision of putting cash flow awareness at the heart of every business.
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t can be challenging to demonstrate the true value of your services to clients, especially when you’re introducing a new service for the first time. But having clients develop an understanding and appreciation of how important an accountant or bookkeeper’s role is, is key to embedding your new service in longer-term with full client buy-in. We asked business owners what more they wanted from their
accountants. Almost a third of people said they wanted their accountant to provide a cash flow forecast. So that means people are crying out for cash flow advisory services, right? Well, not quite. Here’s a question: do your clients actually connect their business problems with cash flow as the solution? This is where Float’s Cash Flow Proposal Guide comes in. We’ve created this conversation guide as a hub of practical advice on how to go from identifying an opportunity for a new cash flow service, right through to having a client paying a recurring fee for it. The step-by-step worksheet is designed to help you engage clients in meaningful conversations around cash flow. And by meaningful, we mean effective.
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Here are 5 key, actionable steps from the worksheet: • Discovery & groundwork - what are your client’s immediate goals and challenges? • Requirements to meet goals & address client challenges - what needs to be done to get the outcome both parties want? • Responsibility - which party is responsible for each task to be done? • Embedding your cash flow service longer-term - show evidence that cash flow isn’t just for a crisis • Pricing the jobs to be done how to price the proposed work Having a structured conversation establishes a roadmap and proposal for cash flow support that both parties agree on. Shared responsibility to achieve joint goals is an excellent way to encourage client accountability.
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