Part of what we love about running a “right sized” CPA firm is the opportunity to carve out our own unique niche in our industry. It gives the latitude to do our own thing and to build the business we really want – not just for ourselves but for our clients, too.
One of the areas where this flexibility shines through is our ability to treat business owners the way we like to be treated by our own professional advisors – like human beings.
It sounds simple, but this type of service ca be difficult for both smaller and larger firms to achieve. A solo CPA or mom & pop shop doesn’t have the time to dig deep into each client’s bigger picture and personal story – simply due to the nature of low-cost, high-volume engagements. And large firms are just too big to care about each client on a personal level. You’re just a number to them. That’s the nature of the beast.
And this honestly isn’t a knock on both these types of CPA firms. We all serve a different segment of the market. We’re just glad that in our case, treating business owners like human beings can both be our personal philosophy and a strategic initiative in our business plan.
Solutions tailored to the person and not just their financial situation
Recognizing that business owners are people first and entrepreneurs second helps our team better understand the motivations and values that drive decision making. Even in an industry where spreadsheets reign supreme, it is vital to remember that behind every business lives human aspirations, fears, challenges, and dreams.
Two people in the exact same financial situation might want to make wildly different choices based on their personal preferences and wishes – but we can only support these wishes if we find out what those emotions are and take the time to learn more about the person who feels them. Truly custom guidance is only possible when we have a more personal understanding of the person we’re guiding.
A simple example is looking at a business owner’s legacy wishes. Whether it’s transitioning the business to family members, selling for maximum value, or creating community impact, succession goals are rooted in personal identity and purpose – and only by prioritizing these factors can we drive an outcome that best aligns with a client’s values.
Financial decisions come with emotional impact and non-financial consequences
When you run your own company, business decisions can have an immediate and lasting impact on your personal life. Overlooking the human element in financial guidance can lead to recommendations that are technically sound but a net negative for the business owner’s quality of life.
There are countless scenarios where the numbers add up but moving forward would lead to excessive stress, extra-long hours, relationship strain, health concerns, or other negative consequences for our client. We love data-driven decision making – but only when tempered with a holistic understanding of how the decision will impact the person outside of their bottom line.
This same phenomenon can also be thrown into reverse, too. While some clients need guidance to moderate growth to account for work/life balance, other clients need encouragement to invest in growth initiatives and overcome their fears.
Knowing when business owners are making decisions based on emotional apprehension, and not logic, helps us to better provide guidance that assuages their concerns while keeping their best financial interests at the forefront of the conversation.
We all play a balancing act in life, where we make decisions using both sides of our brain. It just makes sense that CPAs should do the same.
Understanding an owner’s personality, values, and unique goals also allows for more flexibility and creativity when problem solving. Sometimes the most effective solution can only be discovered when you look beyond the obvious and address the root causes of challenges – whether they be financial, operational, or personal.
Fosters trust, loyalty and long-term partnerships
As business owners ourselves, we understand that when you’re choosing which service providers to be loyal to, what matters more than price is working with companies that support our broader goals. Vendors that understand how their product or service fits into our ecosystem always win out – but it takes a little determination to know that!
This is why we make a concerted effort to make sure our clients are seen, heard, and understood. This communication helps us to deliver better advice based on the full picture, and it leads to stronger client loyalty and professional relationships that turn into long-term partnerships.
Celebrating wins together
We know our humanistic, holistic support leads to better outcomes for business owners – outcomes that enhance our clients’ overall quality of life and not just their bank account.
We help people deal with real people problems, like burnout, stress, and navigating business challenges that leave them feeling overwhelmed by helping them take control of their finances. And this is a big reason why we love the size of our firm. It positions us to be the right advisory team for a crucial stage of business growth.
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Accountability Services’ Behind the Puzzle series shares honest thoughts and stories from our own business journey. Like you, we have a vision for our company that goes beyond turning a profit – and like yours, our path to success has been lined with obstacles and triumphs, frustration and joy, problems and solutions. As our team works to solve our own business puzzle, we hope this candid look behind the scenes provides useful insights to help you solve yours.
