| Future-Proof Your Practice: Create a Minimum Viable Service (1395Q)
Course CPE: 2 hour(s)
Field(s) of Study: Accounting–1 hr; Communications and Marketing–1 hr
Program Level: Intermediate
Prerequisites: Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.
Advanced Preparation: None
Delivery Method: QAS Self-Study
Shipping Weight: 0lbs. 0oz.
|Recording Date: August 3, 2020
Presenter: Rod Burkert
Looking back on the history of “traditional” business valuation and financial litigation services (BVFLS) work, we’ve enjoyed the long-time luxury of complacency. And basically, we’ve gotten by, even flourished, by providing services that are primarily:
- Completed one-to-one (we can’t resell a report to another client);
- Performed once-and-done (we have few repeat clients); and
- Offered all-or-nothing (we only promote/sell a BVFLS service).
If the COVID-19 crisis revealed one thing, it’s the importance of having long-standing and ongoing client and referral source relationships, and having more than one service to offer them!
And as the country returns, or has returned, to a new normal, leads, prospects, clients, and referral sources will remember those practitioners who said they were working from home and that their firms were operational. But what they will remember more is if you were able to help them get through the crisis. And it likely wasn’t your “emergency” valuation they needed (or could afford). It could have been your minimum viable service (MVS) that kept them operational—if you had one.
What is a MVS? It is selling the life raft, not the yacht. Something that if a prospect or client or referral source called you and said, “I need help solving X problem,” you’d say, “Of course I can do that.” Even though it’s not listed as something you do on your website or LI profile—because you never thought to list it … until now.
Also, a MVS gives prospects and clients and referral sources an interesting option. An option that can change their mindsets FROM “Do I want to work with you?” TO “How do I want to work with you?” Makes sense, right?!
After completing this course, attendees will be able to:
Why should you bother? Well …
- Identify the pathway for adopting your new mindset
- Identify how to pivot your marketing, protect your cash flow, and profit from your services—in any economy—by creating your MVS (or services)
Either way, you’ll create something valuable and tangible that can grease the wheels with prospects, clients, and referral sources so they remember you and the assistance you were able to offer … and be more willing to sign on to your higher-priced valuation services when the time is right.
- You’ll have a new, ongoing MVS you can offer to past and future valuation and non-valuation clients
- You’ll have an easier-to-sell MVS that can generate cash flow right now while you continue to prospect for your traditional BVFLS work
For more information regarding refund or concerns, please contact our offices at (800) 677-2009.
The Consultants’ Training Institute (CTI) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.