Accounting Influencers Roundtable

Accounting
Influencers
Roundtable

What Works in Successful Discovery Calls: Nancy Fox

Rob Brown interviews Nancy Fox on what really works with successful discovery calls for accounting professionals and fractional executives.

“What Works in Successful Discovery Calls”, Rob Brown speaks with guest Nancy Fox about growing accounting firms. Nancy highlights the importance of having a unique value proposition and point of distinction that sets accountants apart from their peers. Additionally, she emphasises the need to warm up potential clients before a discovery call by networking and building relationships. Nancy shares a five-step structure for conducting discovery calls and suggests asking deep questions to determine potential clients’ readiness, commitment, and budget for working with an accountant.

Nancy also advises waiting to send proposals until certain pieces are established and the client is ready to move forward. She emphasises the need to understand clients’ businesses, ask great questions, and add value to their services to get their desired fees. Nancy concludes by offering to help accountants improve their probing and open-ended questions and providing a mini-training on success in discovery calls if enough people are interested. By setting boundaries and guidelines, accountants can work with clients who respect and value their services.

Key Takeaways

➤ Having a unique value proposition and a point of distinction is crucial to building brand awareness and setting yourself apart from other accountants.

➤ Warm-up before a discovery call by networking and building relationships with potential clients, and prepare for the call by conducting thorough research on the person or company.

➤ During the discovery call, ask deep questions during the uncovering stage to determine interest versus commitment and nurture relationships with potential clients who may need more time to move forward.

➤ Set boundaries and guidelines for working with clients who respect and value your services and understand their businesses to add value to your services and get the desired fees.

➤ Only send proposals once certain pieces are established, and the client is ready.

Overall, by focusing on building relationships, providing value, and setting boundaries, accountants can better prepare for discovery calls and grow their firms.

Nancy Fox, a former corporate executive, launched her coaching and training business in 1999. With a background in manufacturing, Nancy has trained and coached senior executives in leadership, communication, and business development. She also served as a Fractional Business Development Officer in professional service firms, guiding accounting and law professionals in networking, client relationship building, and engagement. Nancy has helped firms develop internal mentoring programs and women’s initiatives.

Nancy is an accomplished community and network builder, a keynote speaker, and the author of the highly recognised strategic networking book Network Like A Fox. She is based in Los Angeles and enjoys playing tennis, spending time with dogs, hiking in the mountains, and dancing West Coast Swing. If you want to book a call with her or learn more about her book, Network Like A Fox.

Links: Book a call: https://fractionals.as.me/leapforward

Network Like A Fox book – https://networklikeafox.com

◣━━━━━━━━━━━━━━━━━━━━◢

The Accounting Influencers Podcast drops every Monday to accounting professionals, finance specialists, software vendors, tech providers and influencers across 150 countries in the accountancy, CPA and bookkeeping space. To participate in our international virtual speed networking events for the accounting community, go to https://accountinginfluencers.com/events and book your place at the next gathering. Great to build your personal brand and make valuable industry connections.

◣━━━━━━━━━━━━━━━━━━━━◢

You can watch this episode and more on our YouTube Channel

https://www.youtube.com/@accountinginfluencers

Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers

For videos of all podcast interviews and bonus video content: https://bit.ly/AI-youtube

Thanks to our sponsors:

ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

ACCOUNTEX. Join us at Accountex London, the pinnacle of fintech innovation, May 15-16, 2024! Discover ground-breaking solutions from 295+ brands and gain invaluable insights at our CPD-accredited sessions. Connect with 10,000+ finance professionals. Elevate your practice – attendance is free, plus earn up to 16 CPD points! https://www.accountex.co.uk/london

DEXT. Streamline your accounting practice with Dext! Our cutting-edge tools, Dext Prepare, Commerce, and Precision, revolutionize data handling, saving you precious time and ensuring accuracy. Connect seamlessly with leading software like Xero and QBO. Join 500,000+ customers transforming their practices. Start your free trial and embrace efficiency today! https://dext.com

If you’d like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

https://www.linkedin.com/in/therobbrown