Are you hesitant to niche down in your business advisory practice? Many advisors struggle with the fear of limiting their client base or losing their identity. In this episode, we explore the common challenges and misconceptions surrounding niching down, and provide strategies to overcome them. Discover how focusing on a specific niche can actually open doors to new opportunities and create a more fulfilling and successful business.

Key Takeaways:

• Overcome the Fear of Exclusion: Niching down doesn't mean turning away potential clients. It's about honing your marketing to attract your ideal clients, while still remaining open to serving others outside your niche.
• Focus on Your Ideal Client: Identify the specific types of clients you enjoy working with and tailor your services to their needs. This helps you create a more targeted and effective marketing strategy.
• Leverage Past Experience: Use your previous industry experience to your advantage. Your unique perspective can be a valuable asset to clients in the same field.
• Embrace the Power of Specialization: By focusing on a specific niche, you can become an expert in your field, build strong relationships with clients, and increase your earning potential.
• Embrace Uncertainty and Continuous Learning: Niching down is a journey, not a destination. Be open to adapting your niche as your business evolves.
• Build a Network of Advisors: Collaborate with other advisors who serve different niches to create a referral network and expand your reach.
• Focus on Your Strengths: By specializing, you can leverage your unique skills and passions to create a fulfilling and successful business.
• Overcome the Fear of Missing Out: Embrace the abundance mindset and understand that niching down allows you to focus on delivering exceptional value to a specific group of clients.

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Here's all the FREE BONUSES you'll receive when you join our exciting community on Skool; The Freedom Tribe

• Global Community Of Peers: CPAs, accountants, fractional CFOs, bookkeepers and finance professionals from all over the world sharing ideas, best practice and innovations with each other.
• Digital copy of Amanda's NEW BOOK, the Business Advisor Playbook: 300+ pages that will transform your approach and share the strategies you need to create, sell and deliver business advisory services.
• Digital copy of 500:200 Model™ Guide: My tried-and-tested formula for taking home at least 200K with business advisory revenue of 500K.
• 12 Days Of Business Advisory video series: that walks you through creating the perfect advisory offer.
• Hand Picked And Categorised episodes of the Business Advisor Podcast to accelerate your journey from a compliance-led to an advisory-led practice.

PLUS: There are a few other surprise bonuses that can be UNLOCKED once you are inside the community: Get Clients Course and 5 Day LinkedIn Challenge. Super excited to see you there, and looking forward to helping you achieve all that you want in life.

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This episode of the Business Advisors Podcast dives deep into the importance of empathy for building successful business advisor-client relationships. Host Amanda C. Watts explains how empathy is more than just sympathy, but a skill that allows you to truly understand your client's perspective and emotions. By mastering empathy, you can create a safe space for open communication, build trust, and ultimately deliver more impactful advice that drives client success.

Key Takeaways:

• Empathy is the Cornerstone of Trust: Clients who feel heard and understood are more likely to trust your advice and guidance.
• Active Listening is Key: Master the art of truly listening to your clients, not just waiting for your turn to speak. Pay attention to both verbal and nonverbal cues.
• Uncover Client Emotions: Acknowledge and validate your client's feelings to build rapport and create a safe space for vulnerability.
• Tailor Your Approach: By understanding your client's unique needs and motivations, you can personalize your advice for maximum impact.
• Empathy is a Skill You Can Develop: Practice active listening, ask open-ended questions, and seek feedback to improve your empathetic communication.
• Go Beyond Numbers: Business advisory is not just about financial metrics. Empathy allows you to connect with clients on a human level and create a more holistic approach to their success.
• Set Boundaries & Maintain Objectivity: While empathy is crucial, it's important to maintain professional boundaries and avoid giving biased advice.
• Seek Feedback & Continuous Improvement: Actively solicit feedback from clients and peers to identify areas where you can strengthen your empathy and overall advisory skills.

Want more? Join THE FREEDOM TRIBE

Here's all the FREE BONUSES you'll receive when you join our exciting community on Skool; The Freedom Tribe

• Global Community Of Peers: CPAs, accountants, fractional CFOs, bookkeepers and finance professionals from all over the world sharing ideas, best practice and innovations with each other.
• Digital copy of Amanda's NEW BOOK, the Business Advisor Playbook: 300+ pages that will transform your approach and share the strategies you need to create, sell and deliver business advisory services.
• Digital copy of 500:200 Model™ Guide: My tried-and-tested formula for taking home at least 200K with business advisory revenue of 500K.
• 12 Days Of Business Advisory video series: that walks you through creating the perfect advisory offer.
• Hand Picked And Categorised episodes of the Business Advisor Podcast to accelerate your journey from a compliance-led to an advisory-led practice.

PLUS: There are a few other surprise bonuses that can be UNLOCKED once you are inside the community: Get Clients Course and 5 Day LinkedIn Challenge. Super excited to see you there, and looking forward to helping you achieve all that you want in life.

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In this episode Amanda C. Watts tackles a crucial topic for CPA, accounting and bookkeeping professionals: raising prices. She explores the dangers of "quicksand pricing," and delves into six effective strategies you can use to justify and implement price increases for your current client base, with confidence and integrity.

Key Takeaways

• Escape the Quicksand: Move away from "quicksand pricing" where low initial prices attract a flood of clients but ultimately strain your resources. Transition to a value-based pricing model that reflects the true worth of your services.
• Enhanced Service Offerings: Develop service packages that go beyond basic accounting and bookkeeping. Consider including quarterly consultations, bookkeeping packages, or helpful software like Dext to offer a more comprehensive and tailored service to clients.
• Repositioning Based on Value: Shift your focus from cost-based pricing to value-based pricing. Clearly communicate the additional benefits and superior service that come with the higher price tag, justifying the increased cost.
• Market Rate Alignment: Research and adjust your prices to keep pace with current market rates for similar accounting services. This demonstrates professionalism and ensures you can offer competitive, high-quality service.
• Specialization and Premium Positioning: Consider specializing in a specific client base or industry. This allows you to position yourself as an expert or premium provider in that niche, justifying higher fees.
• Managing Supply and Demand: Utilize pricing as a tool to manage your client workload. By strategically raising prices, you can ensure you can continue to deliver high-quality services without being overloaded.
• Long-Term Cost Management: Factor in the gradual increase in operational costs over time, such as software subscriptions, office leases, and staff salaries. Raising prices can be a necessary adjustment to maintain profitability and service quality in the long run.

Want more? Join THE FREEDOM TRIBE

Here's all the FREE BONUSES you'll receive when you join our exciting community on Skool; The Freedom Tribe

• Global Community Of Peers: CPAs, accountants, fractional CFOs, bookkeepers and finance professionals from all over the world sharing ideas, best practice and innovations with each other.
• Digital copy of Amanda's NEW BOOK, the Business Advisor Playbook: 300+ pages that will transform your approach and share the strategies you need to create, sell and deliver business advisory services.
• Digital copy of 500:200 Model™ Guide: My tried-and-tested formula for taking home at least 200K with business advisory revenue of 500K.
• 12 Days Of Business Advisory video series: that walks you through creating the perfect advisory offer.
• Hand Picked And Categorised episodes of the Business Advisor Podcast to accelerate your journey from a compliance-led to an advisory-led practice.

PLUS: There are a few other surprise bonuses that can be UNLOCKED once you are inside the community: Get Clients Course and 5 Day LinkedIn Challenge. Super excited to see you there, and looking forward to helping you achieve all that you want in life.

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Feeling like your clients are running your life? You're not alone. Many advisors struggle to set clear boundaries, leading to burnout and resentment. In this episode of the Business Advisors Podcast, Amanda dives deep into 7 key strategies to help you reclaim your time and build thriving client relationships. Discover how to choose ideal clients, establish clear expectations, and finally, say goodbye to weekend work.

Key Takeaways:

• Select Ideal Clients: Prioritize clients who align with your values and work style for a strong foundation in setting boundaries.
• Iron-Clad Contracts: Solid contracts outlining deliverables protect you and prevent misunderstandings.
• Clear Payment Terms: Establish upfront how and when you get paid, including consequences for late payments.
• Streamlined Onboarding: A well-defined onboarding process sets clear expectations for communication from the outset.
• Client Accountability: Remind clients of their active role in achieving their goals. It's a collaborative effort!
• Time Management Expertise: Value your time and theirs. Maintain punctuality for meetings, establish work hours, and communicate vacation schedules.
• Boundary Enforcement: Clearly communicate your boundaries and consistently enforce them, even when clients challenge them.

Want more? Join THE FREEDOM TRIBE

Here's all the FREE BONUSES you'll receive when you join our exciting community on Skool; The Freedom Tribe

• Global Community Of Peers: CPAs, accountants, fractional CFOs, bookkeepers and finance professionals from all over the world sharing ideas, best practice and innovations with each other.
• Digital copy of Amanda's NEW BOOK, the Business Advisor Playbook: 300+ pages that will transform your approach and share the strategies you need to create, sell and deliver business advisory services.
• Digital copy of 500:200 Model™ Guide: My tried-and-tested formula for taking home at least 200K with business advisory revenue of 500K.
• 12 Days Of Business Advisory video series: that walks you through creating the perfect advisory offer.
• Hand Picked And Categorised episodes of the Business Advisor Podcast to accelerate your journey from a compliance-led to an advisory-led practice.

PLUS: There are a few other surprise bonuses that can be UNLOCKED once you are inside the community: Get Clients Course and 5 Day LinkedIn Challenge. Super excited to see you there, and looking forward to helping you achieve all that you want in life.

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In this week’s episode, we delve deep into what a £2,000-a-month business advisory service entails, particularly when transitioning from compliance to a hybrid or solely advisory focus.

Amanda unpacks the 500:200:10 model, exploring how to effectively manage and serve clients to generate £500,000 in revenue by advising just 21 clients for 10 hours a week.

She also discuss essential elements like client selection, service structuring, and the utilization of different tools and delivery tactics. Get ready to learn how to enhance your business advisory offerings and ensure high-value service without the burnout.

Key Takeaways:

1. Client Onboarding and Planning: Efficient onboarding through pre-recorded videos and a half-day planning workshop helps set the foundation with each client, saving time and standardizing the initial process.
2. Service Structure: Learn how to offer high-value advisory services without compliance tasks, focusing on monthly management accounts, strategy meetings, and using tools like forecasting software to streamline operations.
3. Client Interaction: Insights on managing effective client relationships within a 10-hour weekly commitment, ensuring personalized attention through strategic meetings and periodic reviews.
4. Scaling the Business: Strategies for scaling your services through group sessions and leveraging digital tools to serve multiple clients effectively while maintaining quality and personalization.
5. Identifying the Right Clients: Understanding the importance of aligning with clients who are not only able to afford the service but are also in genuine need of the transformation you offer.

Want more? Join THE FREEDOM TRIBE

Here's all the FREE BONUSES you'll receive when you join our exciting community on Skool; The Freedom Tribe

• Global Community Of Peers: CPAs, accountants, fractional CFOs, bookkeepers and finance professionals from all over the world sharing ideas, best practice and innovations with each other.
• Digital copy of Amanda's NEW BOOK, the Business Advisor Playbook: 300+ pages that will transform your approach and share the strategies you need to create, sell and deliver business advisory services.
• Digital copy of 500:200 Model™ Guide: My tried-and-tested formula for taking home at least 200K with business advisory revenue of 500K.
• 12 Days Of Business Advisory video series: that walks you through creating the perfect advisory offer.
• Hand Picked And Categorised episodes of the Business Advisor Podcast to accelerate your journey from a compliance-led to an advisory-led practice.

PLUS: There are a few other surprise bonuses that can be UNLOCKED once you are inside the community: Get Clients Course and 5 Day LinkedIn Challenge. Super excited to see you there, and looking forward to helping you achieve all that you want in life.

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Key Takeaways from the Podcast

1. Utilize Meetup.com: It's an excellent resource for finding industry-specific groups or general meetups in your area that align with your business goals, whether it’s expanding your client base or growing your peer network.
2. Host Your Own Meetups: Leverage spaces like co-working locations to host events. These can significantly boost your visibility and reputation in your industry, as I experienced with the Corporate Escape Club in London.
3. The Dinner Club Format: Create an intimate networking setting by forming a dinner club. This setting allows for deeper, more personal connections, making networking less about exchanging business cards and more about solving common business challenges together.
4. Engage in Masterminds: Participate in or start your own mastermind group. The collective power of a focused group can lead to new insights and strategies, benefiting everyone involved.
5. Leverage Online Platforms: Platforms like Facebook and LinkedIn are invaluable for connecting with like-minded professionals. Engage actively in groups, contribute to discussions, and showcase your expertise to expand your network effectively.
6. Volunteer Strategically: Choose volunteer opportunities that align with your professional goals. This can open doors to networking with potential clients and collaborators in your industry.
7. Industry Events: Approach industry events with the goal of making genuine connections rather than just attending. Engage with speakers, participate in discussions, and look for unofficial gatherings that might offer more personalized networking opportunities.
8. Start a Podcast: Use podcasting as a tool to connect with industry leaders and potential clients. It’s a platform that allows you to both provide value and expand your network organically.
9. Never Eat Alone: Utilize meals as networking opportunities. Regularly schedule lunches or coffee meetings with industry peers, potential mentors, or collaborators to discuss opportunities and share insights.
10. Clarify Your Pitch: Clearly articulate what you do and the unique value you provide. This helps in making your networking conversations more impactful and ensures you are remembered for the right reasons.

Want more? Join THE FREEDOM TRIBE

Here's all the FREE BONUSES you'll receive when you join our exciting community on Skool; The Freedom Tribe

• Global Community Of Peers: CPAs, accountants, fractional CFOs, bookkeepers and finance professionals from all over the world sharing ideas, best practice and innovations with each other.
• Digital copy of Amanda's NEW BOOK, the Business Advisor Playbook: 300+ pages that will transform your approach and share the strategies you need to create, sell and deliver business advisory services.
• Digital copy of 500:200 Model™ Guide: My tried-and-tested formula for taking home at least 200K with business advisory revenue of 500K.
• 12 Days Of Business Advisory video series: that walks you through creating the perfect advisory offer.
• Hand Picked And Categorised episodes of the Business Advisor Podcast to accelerate your journey from a compliance-led to an advisory-led practice.

PLUS: There are a few other surprise bonuses that can be UNLOCKED once you are inside the community: Get Clients Course and 5 Day LinkedIn Challenge. Super excited to see you there, and looking forward to helping you achieve all that you want in life.

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Join Amanda C. Watts in today's episode as she explores the seven essential beliefs that your prospects need to hold true to say 'YES' to working with you. Amanda explores practical strategies to address each belief, from cultivating pain/problem awareness to building unshakeable trust. Whether you're selling high-value advisory services or seeking to enhance your sales skills, aligning your marketing efforts will make your sales process seamless and stress-free.

Key takeaways:

1. Learn the Importance of the Belief Ladder: Understand how addressing seven crucial beliefs can make or break your sales efforts, leading to either successful conversions or missed opportunities.
2. Find Out How to Cultivate Pain Awareness: Recognize that for a sale to occur, prospects must first believe they have a problem that needs solving.
3. Discover Techniques to Overcome Doubt: Utilize stories, case studies, and proofs to demonstrate your capability to solve the prospect's problems better than they could on their own.
4. Know the Role of Cost Perception: Teach prospects that the cost of inaction is much greater than the investment in your solution, framing it in terms of opportunity cost.
5. Uncover Ways to Enhance Desire: Help prospects envision a better future and understand the financial and personal gains of solving their problem with your help.
6. Learn About Assessing Financial Capability and Willingness: Ensure prospects have the resources and willingness to invest, which is crucial for a successful sale.
7. Find Out How Support Influences Decisions: Learn why having the support of a spouse or partner can be critical in the decision-making process and how to include them in discussions.
8. Understand the Need for Trust: Discover how building trust in your expertise, the effectiveness of your methodology, and the prospect’s own capabilities is essential for closing sales.
9. Explore the Power of Strong Marketing: Realize that effective marketing simplifies the sales process by pre-qualifying leads and addressing the seven beliefs before a sales call occurs.
10. Realize the Value of Helping Over Selling: Focus on how providing genuine help and value can lead to more fulfilling and successful sales interactions.

Want more? Join THE FREEDOM TRIBE

Here's all the FREE BONUSES you'll receive when you join our exciting community on Skool; The Freedom Tribe

• Global Community Of Peers: CPAs, accountants, fractional CFOs, bookkeepers and finance professionals from all over the world sharing ideas, best practice and innovations with each other.
• Digital copy of Amanda's NEW BOOK, the Business Advisor Playbook: 300+ pages that will transform your approach and share the strategies you need to create, sell and deliver business advisory services.
• Digital copy of 500:200 Model™ Guide: My tried-and-tested formula for taking home at least 200K with business advisory revenue of 500K.
• 12 Days Of Business Advisory video series: that walks you through creating the perfect advisory offer.
• Hand Picked And Categorised episodes of the Business Advisor Podcast to accelerate your journey from a compliance-led to an advisory-led practice.

PLUS: There are a few other surprise bonuses that can be UNLOCKED once you are inside the community: Get Clients Course and 5 Day LinkedIn Challenge. Super excited to see you there, and looking forward to helping you achieve all that you want in life.

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Embrace the Shift Back to In-Person Networking and Relationship Building. Find out how Amanda transitioned from valuing digital networking to advocating the profound impact of in-person interactions, especially post-pandemic. Discover why, even in a digital age, face-to-face connections create deeper relationships.

1. Navigating Post-Covid Networking Challenges: Get clear on the lingering hesitations and the slow, yet steady, return to normalcy in networking spaces. Learn how our host and others are regaining their confidence in attending physical events.
2. Selecting the Right Events: Know how to choose networking events that align with your professional goals and personal comfort. We’ll dive into strategies for ensuring you spend your networking time effectively and enjoyably.
3. Building Real, Authentic Connections: Find out how to network authentically by engaging in settings that foster genuine conversations, rather than forced interactions. Learn tips for creating relationships that are both meaningful and beneficial to your business.
4. Utilizing Technology Wisely: Understand the balance between online and offline networking. While technology helped maintain connections during the pandemic, the crave for in-person interaction is resurging. Learn when and how to blend these approaches for optimal networking success.
5. Hosting Your Own Networking Events: Get clear on the steps to organize and host successful networking events that reflect your personality and meet your business needs. We’ll cover everything from selecting the venue to curating the guest list.
6. Making the Most of Networking Opportunities: Know how to maximize your networking efforts by linking people together, choosing the right events, and even hosting your own gatherings to create valuable connections.
7. The Power of Networking in Business Growth: Understand how effective networking can lead to high-value clients and can significantly impact your professional trajectory and personal growth.

Want more? Join THE FREEDOM TRIBE

Here's all the FREE BONUSES you'll receive when you join our exciting community on Skool; The Freedom Tribe

• Global Community Of Peers: CPAs, accountants, fractional CFOs, bookkeepers and finance professionals from all over the world sharing ideas, best practice and innovations with each other.
• Digital copy of Amanda's NEW BOOK, the Business Advisor Playbook: 300+ pages that will transform your approach and share the strategies you need to create, sell and deliver business advisory services.
• Digital copy of 500:200 Model™ Guide: My tried-and-tested formula for taking home at least 200K with business advisory revenue of 500K.
• 12 Days Of Business Advisory video series: that walks you through creating the perfect advisory offer.
• Hand Picked And Categorised episodes of the Business Advisor Podcast to accelerate your journey from a compliance-led to an advisory-led practice.

PLUS: There are a few other surprise bonuses that can be UNLOCKED once you are inside the community: Get Clients Course and 5 Day LinkedIn Challenge. Super excited to see you there, and looking forward to helping you achieve all that you want in life.

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