Advisory FAQs

Frequently Asked Questions

As an accounting firm owner, you may be concerned about getting more clients and generating enough sales.

Keep reading to find out the common questions we hear about whether you should offer consulting advisory services to your clients.

Q: What is ConsultX?

A: ConsultX is a total business consulting solution. It has everything you need to transition your accounting practice into successful business consulting.

The ConsultX system easily integrates with major accounting software such as QuickBooks, Xero, Sage, and more. It is used by 300 Consultants and in over 10,000 businesses across the globe. You and your staff will get tools, training, and support to seamlessly provide advisory services to your clients.

Q: How is ConsultX different from other advisory software?

A: Advisory software generally does 3 things:

  1. It supports your existing client relationships,
  2. streamlines existing processes, and
  3. improves your marketing capabilities.

But these “plug and play” software products don’t solve core issues. Accounting firm owners need a system that will transition them beyond a tax & compliance role into a consultative role that their business clients desperately want and need.

ConsultX offers a complete, end-to-end system to become the “Trusted Advisor” for your business clients. Our system allows you to:

  • improve efficiencies,
  • delegate tasks more smoothly,
  • attract Ideal Customers and turn away those who don’t fit your philosophy,
  • bill at higher rates,
  • generate significant new income for your firm, and
  • enhance your market positioning.

Q: Why should we consider offering advisory services?

A: The accounting profession is under siege. Nearly every firm is experiencing low profits due to inexpensive and easy-to-use accounting software, add-on apps, and artificial intelligence (AI) technology. While accessible and simple to use, these options don’t provide business owners with the problem-solving power of a trained professional.

We believe that Accountants are in a perfect position to help their business clients navigate a treacherous path to financial growth. Our system will help you ask your clients the right questions about their strategic and operational data, easily design a robust business plan, and keep them on track to reverse profit leakage and increase their long-term value.

Using our powerful Profit Leakage Calculator, Business Diagnostic, Business Wheel and other tools, you & your firm will enjoy significant financial rewards while adding value to your clients’ bottom line.

Q: Is advisory right for my firm?

A: Just as your firm isn’t perfect for every business owner, business advisory isn’t the right fit for every accounting firm. You’ll know if business advisory would be a good fit if these are true:

  1. You recognize the tremendous opportunity to help your clients grow their business proactively, not just reactively.
  2. You understand that transitioning to an advisory role could feel uncomfortable.
  3. You desire exponential growth for your firm (both financial and operational).
  4. You possess an entrepreneurial mindset and can identify future possibilities for your clients.

If you want to hear more about how your firm can benefit from offering business advisory services, contact us to schedule a Discovery Session today.

Q: What kind of support will you offer if we have questions?

A: We offer complete support during the entire process: training, implementation, client conversion, and client monitoring. Our services include 1-on-1 discussions with you and your team leaders, staff training, weekly meetings, and monthly ongoing check-ins once you’re up and running.

Q: How much do you charge for the ConsultX system?

A: An investment in the ConsultX total business consulting solution is based on several factors:

  • the size and annual revenue of your firm,
  • the profit potential of your firm,
  • business clients’ size and desired growth,
  • how many of your staff will be trained as business advisors, and
  • the amount of time your team devotes to advisory.

We offer this system as a complete solution — which including ALL the training, resources, tools, and support to launch your advisory services to new and existing clients. Our ConsultX clients enjoy a tremendously high ROI, many within weeks of completing their training.

Q: What can our firm expect to generate in advisory fees?

A: Your firm’s revenue will depend on several factors, including:

  • your business clients’ size and desired growth,
  • how many of your staff will be trained as business advisors, and
  • the amount of time your team devotes to advisory.

We’ll teach you how to convert current clients, develop efficient internal systems, train your team, charge very high rates, and leverage your time. All you have to do is allow us to help you set up a highly profitable service that your clients are already interested in purchasing from you.

Q: How can I be sure advisory would actually work for me?

A: Don’t just take our word for it.

Accountants who use the ConsultX system have this to say:

“What I was doing as an accountant was a bit like driving down the freeway and looking in the rear-vision mirror. Rather than a reactive role, which is what I found the commercial compliance accounting world was about, I wanted to provide a proactive service to my clients and tell them where they are now and help them get to where they want to be.

ConsultX provides an excellent structure and framework to ensure we provide a logical flow of services and tracking, which keeps me (and in turn the clients) accountable for each step.”

Peter Coughlan – Accountant and ConsultX Business Consultant in Australia

“I was always interested in Business Consulting, but knew I needed a robust system to help SMEs (Small and Mid-Sized Enterprises). After searching for 15 years, I came across ConsultX and have been working with them ever since.

ConsultX offers a real and robust package that has helped me to improve my clients’ businesses enormously with a method in which to provide SMEs with both Advisory and Consulting services. It literally transforms their business, because we produce a plan when they didn’t have one. The support of an accountant is invaluable for business owners; once we implement the plan, they can get on with doing what they do best.”

John Flynn, CPA – Accountant and ConsultX Business Consultant in Ireland