Five tips for generating new service opportunities during busy season
Busy season provides firms with the most complete and current view into a client’s financial life, which means it’s a great time to identify new service opportunities. As CPAs prepare returns, review financials, and reconcile accounts, they see trends, risks, and opportunities that may not be visible at other times of the year.
Clients may need additional services in many situations, including when they are:
Experiencing growth
Facing declining profitability or cash flow challenges
Going through or anticipating major life events
Undertaking operational changes
With the information and insights they gather during busy season, CPAs can go beyond compliance work and deliver advisory services that meet clients’ most pressing needs. Here are five actionable tips for making that happen.
Identify the benefits. Although this is a hectic time of year, you’ll be more motivated to take time to seek new service opportunities if you consider the value they will have for your firm over the long term. For practitioners, advisory services strengthen client relationships and increase the firm’s value and sustainability. Advisory services often provide more predictable, recurring revenue, reduce reliance on seasonal compliance work, and improve client retention. Clients who view their CPA as a trusted adviser are far more likely to remain long term and engage the firm across multiple services. They can also become strong referral sources.
To get clients’ buy-in, explain that advisory services provide clarity, confidence, and proactive guidance. Clients can make better decisions, avoid surprises, and plan more effectively for the future.Recognize current efforts. Practitioners are likely already providing advisory services without realizing it, through informal phone calls or meetings with clients. Now they can be intentional. Start by identifying a handful of clients who would benefit from additional guidance and then focus on having conversations. Consider tracking these advisory conversations and formalizing them into defined service offerings with clear scope and pricing.
Seize the moment. Like you, clients during busy season are highly engaged in their own finances. They are thinking about their financial position, taxes, and business performance, which makes them more receptive to conversations about planning, tax strategies, cash flow improvement, and long-term decision-making. A simple question such as, “What’s keeping you up at night about your finances this year?” can naturally open the door to deeper advisory discussions.
Consider services to offer. Advisory opportunities can emerge naturally from existing compliance work. They are an evolution of the CPA’s role. Practitioners already have the information, relationships, and trust. Advisory is simply building on that foundation.
New options can include:
▪ Individual clients:
— Tax planning to reduce future liabilities
— Retirement planning
— Planning around major life events (sale of property, marriage, divorce, retirement)
— Audit support
▪ Business clients:
— Cash flow planning/forecasting
— Profitability analysis by product or service line
— Owner distribution planning
— Long-term growth planning
— Advisory services related to hiring, scaling, process improvement, and succession planning
An easy way to shift from focusing only on compliance to becoming a trusted adviser is to ask yourself: What does this mean for the client going forward?Start off on the right foot. This effort is really about deepening the relationship in a way that benefits both the CPA and the client. With that in mind, avoid beginning the conversation with a sales pitch about additional services you may be able to offer. Instead, develop some observations and questions about the client’s financial situation and goals. This approach positions the CPA as proactive and invested in the client’s success. It is also important to clearly define and package advisory services, so clients understand the value. Moving from reactive answers to proactive planning creates meaningful differentiation. Clients may believe that their relationship with you is limited to tax or financial statements. They will appreciate the opportunity to talk more about their situation at this time of year and to hear about the advice or solutions you can offer.
Firms will also want to engage staff in this effort by building a sense of curiosity and awareness. Encourage them to ask questions and identify potential advisory opportunities. In addition, including staff in client advisory discussions is a great learning experience for them and can serve as a strong retention tool.
Becoming a strategic partner
CPAs demonstrate value beyond compliance when they help clients understand what their numbers mean — not just report them. When CPAs translate financial information into insight and action, clients begin to see them as strategic partners.
Busy season isn’t just a compliance deadline — it’s an opportunity to strengthen relationships and build long-term firm value.
For more information, CPAs can turn to:
The Trusted Client Adviser Toolbox. The toolbox includes a variety of resources that help practitioners translate day-to-day client challenges into consulting opportunities.
CPA.com CAS resources. Resources include self-study courses, virtual online workshops, coaching, toolkits and a CAS Firm Self-Assessment Tool.
Stephanie Otero, CPA, is the Association’s Vice President—Small Firm Advocate. Have questions for Stephanie? Contact her directly at stephanie.otero@aicpa-cima.com. To stay ahead on issues affecting CPA firms, the PCPS Small Firm Success Series offers strategies on staffing, technology, compliance, and practice management. The series is free to AICPA members and provides CPE.
We welcome your suggestions and feedback on how the AICPA can better support small firms.