Every business owner requires the services of outside accountants, lawyers, banker or other advisors from time to time. Business owners who understand and value the contributions of their outside advisors typically receive far greater benefit than those that view them as a necessary evil. Great business owners understand that in order to run their business successfully at some point they will need to rely on the experience of others, both inside and outside of their organization. If you are one of these owners, finding the right advisors is critical. You need an advisor who is trustworthy, who will bring the right opportunities and ideas, has the right experience and isn’t afraid to give you an honest opinion.

At Brammer & Yeend CPAs, we believe that creating a value-added relationship with our clients requires more than just technical tax and accounting expertise. We have to understand both your business and family challenges and objectives in order to help you find opportunities and avoid potential roadblocks.

How we approach our relationship with our clients and how you approach your relationship with your advisors is critical to the creation of a long-term, value added relationship. So what should you expect from your advisor? What steps can you take to maximize the value you receive?

Find the right fit

Finding the right advisor is critical to getting value from a relationship. First, your advisor needs to have experience and expertise that complements your organization. If they can’t bring any insight or ideas that you don’t already have, they probably aren’t a good fit.

If you are a small business or startup, a firm that has extensive experience with small businesses will be able to help you see problems before they happen, and help you strategically plan for both the challenges and opportunities you may face. On the other hand, a large corporation may benefit from working with a firm that has extensive experience within their industry and vast national or even international resources. There isn’t a one size fits all approach for organizations. It’s critical to match your needs with your advisor’s experience and expertise.

Your business can certainly benefit from a firm with the right experience and expertise, but it might be even more important to find an advisor that places high value in their relationship with you. Expertise doesn’t mean much if your advisor doesn’t prioritize their relationship with you. It is possible to have an advisor that provides great service to some clients, but not so great service to others. You want to be a “key client” to your advisor, not an afterthought. Sometimes this means that a smaller firm might be a better fit than a larger firm.

Increase your expectations

First, you should expect your advisors to be proactively looking out for your best interests. That means finding someone you trust to bring you new ideas. Like any other business owner, accountants are always looking to grow our business. In some cases that means finding new ways to deliver services to existing clients. Good advisors understand that their relationships with clients are their most valuable asset—that means any new ideas and services that they bring should deliver value and strengthen that relationship. If your accountant is only presenting you with ideas and solutions when you ask for them, they may not be doing you any favors. A true advisor is not an order taker. They are a confidante, a resource and a source of ideas.

Lean your accountant’s services and capabilities

Many business owners don’t understand all of the things their accountant can do for them. And while it is the accountant’s responsibility to share that information, ultimately it is often the business that misses out on opportunity. While the help you need may be just a phone call away, a breakdown in communication can keep you getting the advice or service that you need. Even the most attentive, proactive advisor can’t see every opportunity and foresee every potential pitfall for each client. The best way to ensure that you are getting the best service from your accounting firm is to understand everything they can do for you. Two sets of eyes looking out for opportunities are better than one.

Not all accounting firms are the same. Beyond the core tax and accounting activities, the services and expertise offered can vary significantly. Whether it’s bookkeeping, tax planning, estate planning or other services, it pays to know how your firm can bring value. If you don’t know what our team can do for you, we would love to sit down with you and talk about your challenges and how we can help.

Communicate often and openly

Open and frequent communication is essential for us to know your needs and find ways to serve you. The more open the communication, the better we will understand your goals and challenges. The sooner we know what you are facing, the better equipped we can be to help you implement strategies to help you get ahead. Growth might require additional tax planning or cash flow planning. Retirement could mean selling or transitioning your business, and a valuation or succession plan could help ensure that you maximize what you get from what you’ve built. Don’t just talk with your accountant about what has happened, but what you are anticipating around the next turn. When we can look ahead, we can plan to succeed.

Following these four steps will ensure that your business will receive the greatest value from your relationships with your accounting advisor, so find the right fit; set and understand expectations; learn what services and expertise are available; and communicate openly. And always remember, we are here to help.