The dictionary defines consulting like this:
to seek advice or information from; ask guidance from
to refer to for information:
to have regard for (a person’s interest, convenience, etc.) in making plans.
Consulting can be considered to be a vague word. Especially because, technically, you could consider asking a coworker where they want to go to lunch as consultation. But nowadays there are a vast variety of different forms of professional consulting. From business consultants, to computer consultants, to human resources. Another one of the large consulting markets is accounting consultants.
No matter how large or small a business is, it needs to take care of its accounting needs. These needs have to do with any area in which the spending of resources is involved.
What is good business consulting?
Well, good business consulting can take shape in many different forms, but in the end the result should be the growth and development of your business. And because finances are an essential part of that process business consulting in the area of accounting is absolutely necessary.
- Trustworthy: When businesses decide to hand over a large chunk of their financial responsibility to an accounting firm they have to know that they can trust the hands that are holding their money.
- Reputable: In order to be reputable, you have to have a reputation and this reputation has to be positive. Your reputation is essentially what others say about your firm. Being reputable is extremely important, especially in the area of gaining new clients. For example, if your accounting firm had been servicing a client’s small business for 10 years your client probably has a pretty good idea what to expect from your firm. Therefore your reputation matters less because your client has experience. But if a potential client walked into your firm and sat down with an accountant with no previous experience with your firm your reputation is extremely important.
- Add Value: Not just doing the tasks that are asked of them within the time parameters that are established, but going above and beyond the necessary tasks in order to add value to the business. A good accounting consultant will either saving you money or they are making you money.
- Compliance: A good accountant is seeking your best interests. They will make themselves available to you. Many accountants still charge their clients on an hourly basis. They may break down each hour into 15 or 30 minute segments, but they always round up, meaning that if you were to call or email your accountant to ask them a question and they spend 2 minutes responding to your question they are going to bill you for a full 15, 30, or 60 minutes.
- Experienced: Without experience it is very hard to build a positive reputation. That is why it is important for a firm to be established.