Accountants Have This Priceless Gift . And, thankfully, Tim’s accountant had discovered it.
Tim (name changed), was in tears. His hands were trembling while he tried to find the relevant papers from the pile he had brought with him. He had a guilty feeling he let down his family that he dearly loved.
He was fighting an almost impossible to meet demand from the revenue department – of over $ 200,000.
The only option left for him was to sell of his only asset, the house, where he, his wife and two young children lived. He was already in deep debt due to a failed business.
Life was a bleak black hole, seemingly a vortex of enormous power. It was sucking in Tim’s life towards an inevitable disaster.
Surprisingly, it was Tim’s accountant who pulled him out of this vortex.
Thankfully, Tim’s accountant had discovered the priceless gift that all accountants have (but most of them don’t discover it!)…..
Tim’s accountant, who is also a tax resolution specialist, is a fearless, confident and experienced professional.
She fought the case tooth and nail, and brought down the demand from over $ 200,000 to about $ 5,000 !
She knows the laws. She knows how to represent to IRS.
But her most important trait?
It is her innate belief that she must use her experience, expertise, and existence to create something worthwhile for her clients.
Yes. She genuinely believes that she exists to help mankind!
All accountants have this priceless gift but they rarely discover it
Accountants pride themselves about being great with numbers. They have great knowledge of regulations and tax laws. Their ability to survive grueling tax seasons is proven. Being great adopters of technology in their practices, they are ahead of the curve. They are the most trusted advisors of their clients. Accounting profession is driven by honesty, integrity and ethics.
Everything is true. Unquestionable.
But it is true for almost all accountants, in the same way. And that causes the fee-pressure-building sameness. Commoditization.
Despite commoditization, technological disruption and cut-throat competition, getting a fair value for your abilities as an accountant is easier than you think. IF you can figure out this priceless gift every accountant has but rarely any accountant actually discovers it.
Accountants are called the “Most Trusted Advisors” for some reason.
There are accountants who have convinced banks not to force sell off businesses that were in doldrums because the accountants understood the intrinsic strength of their business models. Example: A distressed business that was up for sale for $ 5 mn. was allowed to continue operations, thanks to the Accountant’s relentless representations, to finally get acquired at $ 5 bn. (billion, with a “b”) years later. How can they pull off such miracles? Because, accountants have this priceless gift.
It is not just the “financial” impact that accountants can advise about.
One of my clients, a restaurant accounting specialist, figured out why a particular restaurant was having a hard time maintaining profitability. Not just because the accountant “understands” the financial statements, but it was because the accountant understood the “restaurant business and industry” so well that it was easy for the accountant to know that the “leakage” was “artificial”. The person stealing the inventory ran away within days after the accountant asked some very uncomfortable questions.
It is not just the financials that accountants understand. Many-a-times, accountants are the “north stars” helping clients navigate their business; and lives. Because, accountants have this priceless gift.
The list of impacts accountants make can go on and on.
And, that is the gift all accountants have!
Power and Opportunities to Impact Lives of People.
Realistically, how many other professional services providers can claim to have this gift – the power, and the opportunities, to positively impact lives of people?
So, next time when you deliver the financial statement, or a tax return, leverage the gift you have – look for the opportunities to impact the life of your client.
Learn how Pransform frees you up from daily grind to leverage your power and opportunities to impact lives of people.