A question we get from people we train to be CFOs/business advisors goes something like this: "Am I providing real value to my client?"
The reason they're even asking themselves this question in the first place is because they want to provide real value. Just like with impostor syndrome, the very fact that they're asking themselves this question means that they're probably providing more value than they realize.
Another reason they're probably asking this question is because as a CFO/business advisor we don't provide anything tangible to our clients - a "deliverable".
For example, as an accountant, you're used to providing a completed tax return each year - a deliverable. As a bookkeeper, you're used to providing a closed set of books each month - a deliverable.
As a CFO or business advisor, there's not a tangible deliverable you're providing. Because you're used to providing a deliverable you think you may not be providing real value.
So, how do you really know if you're providing value? By measuring your own retention rate. Simply measure the percent of all of your monthly clients that stay month after month.
If you were not providing real value to your clients, they would simply stop paying you and, thus, your retention rate would go down.
The very fact that a client continues to pay you month after month means that they value something about your relationship.
It could be they like having someone who understands their entire business to talk to (who else can they really talk to each month?).
It could be they don't understand their numbers and simply wants you to translate it for them (who else in their lives can do this?).
It could be they want a sounding board to make big decisions about their business (who else do they have that can be an objective and professional sounding board)?
Just because you're not providing a tangible deliverable as a CFO/business advisor, you are - without a doubt - providing a very important intangible deliverable. You're helping your clients overcome their challenges and have a growing and more profitable business.
This is real value.
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