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What you'll get from the course
- Mindset change from selling a nebulous thing called "advisory" to selling a systematic process for consistently giving your clients high value for which they will pay a premium.
- Setup your first Fathom report with some custom KPIs.
- Assign roles on your team (delegate and scale) and ensure they are technically trained.
- Easy conversation template to convince a client to sign up for $500 per month minimum.
- Marketing tools and tips to spread the word.
- Advanced add-ons like interdepartmental reporting using multiple Fathom accounts, industry benchmarking, and offering clients live dash-boarding services add-on.
-Prerequisite-
This course assumes you and your team have at least a basic working knowledge of Fathom or have just completed your certification but that you haven't rolled this out formally to your clients.
The Goal
Let's begin with the end in mind. After a 1 year advisory engagement, your client should be closer to their goal than when they first hired you. Period.
The perspective to take on transformative advisory is that the product is not the service you provide, but in fact, it is the client's growth. More specifically, the desired result is your client in a better state than they are in today.
So, how do we achieve this?
First, we must create CLARITY.
Clarity on where the client would like to be, but also clarity in where they are today. It's only then that we can begin to explore key steps to move them in the right direction. One way I like to create clarity on where they stand, is to pull a cumulative revenue and profit for all of time (or as long as they have in QuickBooks). It's eye-opening to tell a client sure, they have 10M in sales over 5 years, but their cumulative profit or even cumulative cash flow is only 50k. Unless they're a big tech company going for a sale based on revenue alone, what's the point of being in business if they're not making a good profit?
Next, we must establish our clients' CONFIDENCE in the next steps they must take.
Specifically, confidence that they can achieve their goals, and, in the specific steps they can take to get there. This confidence comes through walking your client through a journey of what they've tried in the past and brainstorming 1-3 key actions they can take this quarter or even year to make their business more profitable or move it closer to where they want to go. Then, quantify it and document it by sending them an after meeting summary saying something like, "By offering this product through a monthly subscription and auto-drafting your customers, you will generate an extra $5,000 per month in cash flow and save 5 hours per month.
Finally, we provide ACCOUNTABILITY.
This isn't a one-and-done solution. Business changes, sometimes the goals change, and after the client completes their next step they will have more. A true coaching relationship of high value can last a lifetime. Rinse and repeat and hold your client accountable to their stated goal and they will love you and your firm.
That's it. Keep the end goal in mind throughout the rest of this course and in all advisory interactions with your clients and with enough time and practice, you will start to see your clients businesses and lives change for the better and you will build success stories that stay with you for life.