How to Master the Value Conversation with Potential Clients

First impressions are lasting impressions. Let’s consider how this fact applies to your initial free consultation with potential clients.

The sequence often goes like this:

• Ask questions about their accounting needs.
• Quickly review the books.
• Give some advice for free.
• Discuss the engagement.
• Offer to send a detailed proposal.

Some potential clients walk away excited to get started. Others, especially the ones who lack financial savvy, leave overwhelmed.

Do your initial consultations ever fall flat?

Your education trained you to be an accountant or bookkeeper, not a salesperson. Firm owners, however, need both skill sets. Otherwise, your firm struggles to grow.

You start out winging it – not confident about what to ask or how to lead the conversation. With trial and error, a consultation process gradually emerges. Navigating through the questions and financial review is the easy part. As you approach the close, confidence starts to slip away.

The Dreaded Close

According to Harvard Business Review, less than 50% of professional salespeople excel at closing a sale. Sales, especially the closing part, is a complicated skill. That’s why even trained sales professionals find it difficult.

Here are 7 reasons why free consultations backfire.

1. Role. You don’t enjoy the sales part – that’s the most obvious reason.

2. Rely. Too much emphasis on data gathering highlights your technical skills, not your expertise.

3. Rush. Closing a sale can be nerve-wracking. If so, then you find yourself speeding through this part or skipping it.

4. Reduce. You discount your fees to win a new client. (Thinking you’ll make it up later on.)

5. React. Objections challenge your limits.

6. Review. You quickly review what’s required. You get started and realize the scope’s larger than estimated.

7. Rates. Priced the engagement too low.

The traditional sales mindset instructs you to get a new client. The thought of pressuring someone into working with you is distasteful. It’s a difficult conversation that feels confrontational.

Forget the Sales Pitch

Transform your consultations into a value conversation. It’s the perfect approach for accountants who don’t enjoy the sales part. Not only do you stop selling, but your potential clients also enjoy an engaging conversation.

During the value conversation, you ask great questions. Listen carefully to the answers. As a result, you gain insight into their needs, wants and desires.

The conversation centers around your potential client. With this approach, you quickly earn their trust and respect. Smoothly guiding them through this conversation and asking insightful questions highlights your expertise.

Here’s the best part. When you ask great questions, your quality clients naturally ask how does this work

Great Questions to Ask in the Initial Consultation

Now, let’s focus on the questions you want to ask.

1. What is your monthly financial goal for 12 months from now?

Note: Pay attention to this answer. If they focus on all the things that are wrong, they are problem-focused instead of future-focused.

2. How much income do you currently generate each month?

3. So, if YOU do the math and compare what you want to make monthly in 12 months to what you make monthly now, how far away are you from your goal?

Note: Have them do the math to state the gap instead of you doing it for them. This starts to enroll them into working with you.

4. Let’s do the math for 10 months. That’s $$$$$ that could have been in your bank account. Not fixing this is costing you this additional income. Is that right?

5. Why do you FEEL – in your opinion – you don’t have this now? What’s getting in the way?

Note: Emphasize FEEL not THINK because people buy on emotions. Keep asking if there’s anything else. Get the full list.

6. What do you FEEL will happen if you don’t fix this challenge?

7. What will your business be like in 12 months if nothing happens?

8. What’s your biggest AHA from this conversation so far?

9. What would be possible if you no longer had this challenge?

10. On a scale of 1 to 10, how motivated are you to make lasting changes and reach your 12-month goal

11. So why that number instead of a lower number?

Note. This question causes them to convince themselves of all the reasons to move forward right now.

12. Would you like me to share with you how making a lasting change could look with one of our advisory and accounting packages?

Note. DO NOT GIVE FREE ADVICE. Instead ask them if they want to know more about the packages. If they hesitate, then explore further because they are saying that they don’t fully see the value yet.

13. How will you be able to tell if our work together is a success?

Note. Focus on getting the KPI’s and metrics.

14. Do you believe you can get results faster with accurate financials, systems and advisory meetings?

15. Will you make this a priority and do whatever it takes to achieve success?

Note. If they don’t believe this will work for them, they can’t get results faster with your help or they are not willing to do whatever it takes, then they are not a quality client.

16. Based on what you shared today, you want XYZ. Here’s the cost of not doing this - $$$$. You said you want these XYZ benefits. If we can do XYZ, is that something of interest to you? Then, let’s start now.

Practice the Value Conversation

Set aside time to practice the value conversation first. As with anything new, you improve with repetition.

Asking great questions communicates your value – without being salesy. At the end of the conversation, quality clients naturally ask, "How does this work?"

Skip the sales pitch. You no longer need to sell your services. It just isn't necessary.

With this script, you replace the dreaded sales conversation with a value conversation. If you’re ready to work with clients who respect your expertise and happily pay your fees, then this is for you.