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all right I'm going to show you how we build value for accounting services bookkeeping services while we do web design and this is also the premise that you should use as you're asking questions now I'm going to dive right into this um again my name is Rob we do websites marketing and messaging SEO for small businesses and in particular we work with accounting firms now if you're not careful every conversation you have as an accountant to a small business owner will will deteriorate to I just need a good inexpensive accountant which is true but we want to build value if we don't sell value if we're not good at figuring out what's valuable to a customer we're never going to be able to get those High retainer um High retainers with these customers right so really what we got to do is what's valuable to them is valuable to them and our whole goal here is to find out what's valuable to them what problems do they have find out what we do and try and make those connections so these are the types of things that you need to be cognizant of to ask questions about to position and have conversations about so that you can actually sell higher value so I want to real quick talk about this absent of value interpreter all negotiations deteriorate to price if you don't get good at connecting and asking questions and casting vision for some problems it's all going to come down to price now what I'm going to do is I'm going to talk a little bit about what are the three most important things that a business owner values it is not just about how much money they make we are trying to find people that have complex problems that you can solve in fact the more employees they have the more they're geared up towards heading upward and forward in their business the better of a lead this is so what are the biggest value propositions we're going to use questions to draw out of a a business owner that's what we're looking for so number one every business owner wants to mitigate taxes and build wealth all of them everybody that I've ever met to wants to keep more of their money and so tax planning is not a oneandone thing it is a verb it is something that happens throughout the year number one you have to ask questions like this how confident are you that you're doing everything possible to reduce your taxes hey I got a question for you have you had somebody analyze your tax return and look at your accounting and try and find out if you're doing everything possible to reduce your taxes are now are you doing an es Corp or you're monitoring your reasonable salary and you're making sure that you're getting the most tax benefit out of your S corporation or is that just something that you kind of um ignore every year hey I got a question for you now over the long haul you can hire your kids you can use retirement plans like simple IRA SE IRAs solo 401ks you can even use pension style plans um you can do a lot of stuff with even like the August a rule and there's some things that we can do to get into long-term tax savings are you doing that with your current account on a scale of one to 10 how confident are you that you're getting great tax planning um in the beginning and then throughout the year and that's another thing that you want to post them just so you know not only do we make sure that you're maximizing your escorp not only will we make sure that you're hiring your kids utilizing retirement plans using benefits getting involved in real estate finding ways to um just be as tax efficient as possible but we're also going to talk to you about what do you do with all the cash that's sitting in your business you know at the end of the year when you have $300,000 sitting in your bank account or 1.5 million should you just take it on the chin and pay those taxes or should we strategically plan to help your business grow by making the right investments into the equipment that you need into the staff that you need and any other services that might help your business scale and help improve profitability that's dramatically important the second part to this Building Wealth okay folks your business owners notoriously neglect investing you owe it to them to get them involved into a solo 401k if they don't have statuto employees or even just opening a brokerage account at a Schwab or a Vanguard and get them involved in investing in S&P 500 index funds probably or possibly pick their retirement date fund so that that's automatically adjusting to bonds stocks and and becoming more settled down the Clos cler to withdrawing that they would be now I know everybody likes to criticize Big Wall Street and their fees but if you get into Schwab or Vanguard based index funds mutual funds they're broadly based there's in fact the S&P 500 has a great um a great test to make sure that they're good companies to get in there but folks compounding interest is one of the biggest benefits that a business owner can have and it's less correlated the correlation is much lower um compared to what their industry sector is if your business owner is just hunkered into their own uh business and real estate by golly you got to encourage them to start setting away you know five 600 bucks a month $1,000 a month whatever that is at minimum they need to be investing into the most tax qualified retirement funds or retirement tools that they have like a simple IRA a SEP IRA a solo 401K solo 401ks are only if you don't have statutory employees or even offering a 401k that has some tools for officers and owners that might not be there at minimum do those uh profit share contributions and even if they're not doing that um you have to encourage them to get investing in just a taxable account if you're in an S&P 500 Index Fund you're doing mutual funds um the taxes are pretty low but they need to have compounding interest working on their favor the reason why I bring this up they all want this not only that but you should probably be talking about you know stocks and bonds and all that the mutual fund Investments their business you should be talking about building real estate and and starting to diversify there and even getting involved in other businesses as they scale and grow but this is huge all of them want to reduce their taxes all of them want to build wealth so the question here is you know how do you pique their curiosity about Building Wealth right so some of the things you might ask about is so tell me how much cash do you have on hold how much investment do you have do you have any old 401ks some IAS are you doing any other investing outside of your business and ask those questions and ask you do that you should talk to them well tell me about what are you trying to do um when you retire what's what's your plan so again you want to ask questions so talk to me about what do you do for tax planning now what have you learned from your current accountant um about tax planning how does that look like at the end of the year when are you making strategic plans what are the biggest tax writeoffs you've been doing with your current customers when people are coming in our websites need to ask questions about this your sales process needs to ask questions about this and this is the number one thing that's like flash in the pan um it it exposes the relationship that somebody has with their accountant and you can go after that so this is the first value proposition that you should talk about because it's something that they like it's something that puts money in their pocket and it's usually something that if their accounting firm is too busy their current accountant or bookkeeper is too focused on individuals then what's going to happen is they're going to neglect this they're not going to be proactive and at the end of the year they're just going to be dumping their books and accountant they're bookkeeping to this tax person they're going to clean it up tell them what they can and can't do and that's it that can't be how your business operates but that's the first of the three major value propositions the second what we want to do is we want to talk about compliance every business owner along with taxes reduced in wealth you know what they really want I don't want my business to blow up on me I want compliance I want to make sure we're doing things right I want the peace of mind that goes along with knowing that we've paid in our taxes that things are being done right and I don't have this risk that I have Brady doing my accounting and bookkeeping I have a a CPA or a trained tax accountant you got to ask questions like this how confident are you on a scale of 1 to 10 that your accounting is done really well how confident are you that if you were to ever get audited that your bookkeeping and your writeoffs have been done properly how confident are you that throughout the year that you're doing everything to pay in your taxes so you don't have a big tax bomb go off I don't know about you but a lot of clients that I work with towards about quarter 4 they start having conversations with their spouses and they don't know if they're going to get a $5,000 tax return if they're going to owe $122,000 is any of that important to so you just want to ask questions that Peak their curiosity about whether there this is valuable to them you can't tell them this is valuable you have to ask questions about this the other thing is is do you have accurate numbers are you able to confidently go into your bookkeeping and it kind of or are you just going into the bank account and seeing how much money is there and that determines how good things are going also you have to remind them that mistakes that are made right you know classifying things improperly um you have to encourage them that there's huge value in avoiding big mistakes because by avoiding those mistakes and doing it right it's really painful it's kind of like um you know one of the benefits that I have is that I've avoided a divorce like I don't even think about that because divorce isn't a thing in my life and yet isn't it valuable to me to make sure that like that doesn't happen well of course so it you have to find ways to remind them and ask questions hey so talk to me about how confident you are that you know your your bookkeeper is not making mistakes right now or and usually a business owner knows it's either up or down yeah I don't care about this you'll almost feel like you're piling on you got to be careful with that um the next thing is you got to help them with risk mitigation okay this is a a little bit of the basics of Dave Ramsey but you should ask questions so got a question for you now I don't sell insurance or anything but I just want to know do you have any big liabilities that are out there um do you have any life insurance to make sure that if you die your your family would be taken care of just term life insurance how about this have you considered do you have long-term disability insurance where if you were to get hit in the headr and you can't work do you have kind of a plan of what that might look like no okay I just I do want you to know maybe you go look at a day Ramsey thing or whatever it is those are important things you should just pay attention to now they might not value this now this is a little bit of like all you got to do is watch them make a foolish mistake and have something ugly happen where you know a lot of guys will be they don't have the right insurance and then they can't there's stuff they can't do they get one of their drivers might get pulled over and because they were foolish on their on their insurance they end up going out of business and can't drive or their main guy can't drive anymore or it could be that they you know have an injury and all of a sudden they can't operate anymore there's a lot that goes in there so they will value that you got to be gentle that's a little bit harder one then you have accurate reporting so a business owner wants accurate reports it's super vital it's really important to their business and then the last thing is you got to remind them how confident are you that if the IRS starts coming at you that you're not going to be under audit risk how confident are you that it's done right and and so you just want to ask questions again taxes and wealth and then compliance stuff right this is are you hey there's not a tax return we can't do we are an accountant that's professionally trained we'll help you with this but just tell me where are you at with this all right so that's the second main value prop we're going to hit where the third is the third value prop is really the most valuable when you understand this deeply okay so the third value proposition is that you're going to help them say save time and labor and you're going to improve productivity and efficiency I'm a business owner I have a team of nine and my time needs to be spent creating videos selling running sales meetings developing my staff developing my processes if I were stuck screwing around of my accounting right now that'd be the worst use of my time just be terrible my wife runs our operations okay we got almost a million-dollar business going on in just a couple years here and if my wife isn't staying with our clients getting paid quicker AP making sure that customers are happy that'd be a terrible use of our time instead I have an outsourced accountant that just keeps us efficient now you can't tell them that this is important but what you should do is ask lots of questions about how they spend their time who's doing what in the business because it's cliche but it's true that we all wear too many hats in our business and when we wear too many hats in our business our energy gets pulled to the side and by you doing all the bookkeeping making sure that if they are doing anything in accountant it's just getting paid quicker doing the invoices better and if you help them kind of serve as a CFO and we'll get there but if you just help them stay out of the nonsense that's going to be huge the other thing is is if you allow them to not have to hire a Patty parttime or bookkeeper then you're going to help them Focus their staff investment on the right activities okay Donald Miller tells a story or he uses an analogy that business is like an airplane and the airplane you have the cockpit where the leadership is the wing is production and the engines are sales and marketing the fuselage and everything else is the rest of the business okay you obviously need a cockpit the wing is production and sales and marketing your airplane can sit there complete but without sales and marketing and production occurring there's no lift everything else you add in that business weighs it down and requires more cash flow it eats your cash flow up so them hiring them leading them managing their own bookkeeping staff is incredibly time it's a Time suck it's an it really draws them away from the most important activities they can so you're going to help save them time and labor on their current team that they have hired and then you're going to help them be more efficient and you're going to serve as a staff replacement folks if you get them to acknowledge that you'll at least be a replacement for an 8 hour a week $30 an hour accountant that saves them 900 bucks a month and I could darn near guarantee that you and your accountant your outsourced accounting is going to deliver far more value than that then the last thing is is that you can help them understand if they're how to improve productivity and improve profitability and help them scale their business as their CFO if you and that's a whole other conversation so these are the three value propositions that we want to be peing their curiosity around and inside of this is where you start to get people willing to pay much higher retainers so if your website isn't using clear concise curiosity peing statements and if you're retargeting in your advertising isn't doing that you're going to sell yourself short because absent a value interpreter and this is where you have to ask questions absent a value interpreter you're just going to be hammered down on price and that's what we can't do I'm looking forward to connecting with you if you're looking for a website I want this covered so that you understand this good luck and God bless