Getting into advisory work can feel overwhelming. Coming from more traditional services like bookkeeping, it may feel too broad and time-consuming. As with most new ventures, the first approach is the hardest part. Figuring out what to offer, how much to charge, what to focus on, and how much to take on. Founder and CEO of accounting firm Acuity, Kenji Kuramoto, gives FreshBooks’ Twyla Verhelst his first-hand advice on diving into advisory for the first time. Here are four tips from the expert.

1. Take your time, be curious

The first step to getting hired is proving your value, and having the client trust you to accurately assess their business to later give helpful advice. To achieve this, it’s essential to sit down with them and have an enlightening conversation where you ask important questions to understand their in-and-outs, and observe what there is to do.

Managing to earn the client’s trust and understanding the business takes time, it requires getting down and dirty and doing some fieldwork. The other party needs to see you getting involved and offering insights from the get-go. That’s how you build the foundations to ensure a lasting relationship where your services are indispensable.

2. Start small

After pinpointing specific spots of friction, start with bite-sized projects. Narrowing down the scope of advisory is a great way of avoiding overloading yourself. Offer an assessment service that targets a need the client has and can provide tangible results they can use as a launching pad. In doing so, you’ve established an opening door for future engagements, while offering them something of value in return that they can appreciate. Even if they don’t want to work long-term, they’ll know they can get something out of it.

Being specific removes uncertainty and helps the client fully grasp what it is you’re charging for. In turn, this first approach allows you to dig deeper into your comprehension of the company and build trust to forge a lasting relationship. Everyone wins.

3. Keep an eye out

While you work on the initial assignment, the key is being on the lookout for further opportunities. The more you see, the more aware you should be of what other areas the business may need a hand with. That way, you can present a new project to embark on after the first one is done. You’re showing initiative and a disposition to really improve the financial health of the company.

The other party will appreciate the keenness and be more inclined to continue working with you. You can prove your worth by showing you have an eye for things no one else has noticed. The accumulation of tasks will slowly create a synergy between you and the client that can evolve into a long-term association that benefits both sides.

4. Don’t fear the pricing

Setting the price for your work can be daunting. There’s a common strive for perfection, where accountants fear they may be charging over or under the “correct” fee. Truth is you probably are, but the point of these bite-sized projects is to gain experience in every aspect of the word, including pricing. 

The more you work, the better you will understand how much your hours are worth. If the quality delivered is the best it can be, the client will appreciate it, despite a slight overprice or varying fees. Once you become indispensable, your value becomes unmeasurable.

Taking the nosedive

Diving head-first into any new field will be scary and uncertain. However, gaining first-hand experience is the best way of soaking yourself with knowledge. You have to start somewhere. Make sure not to bite off more than you can chew. Spend enough time to understand every crevice of the business you’re assessing. Always scout for more work to be done. Trust your gut. Before you know it, you might be the founder and CEO of your own accounting firm.

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