I Believe I Can Fly

You’re probably familiar with Dumbo and the tale of his feather in Walt Disney’s classic movie of the same name.



Dumbo’s best friend, Timothy, believes that Dumbo’s huge ears enable him to fly, but, to give the doubting elephant the confidence to take the plunge, he uses a ‘magic’ feather in which Dumbo places his faith. Of course, at the most inopportune moment, Dumbo loses his grasp of the feather, only to find out that he really could fly all along (sorry if that is a spoiler for you!). 

So why is someone who coaches and mentors accountants babbling on about flying elephants and magic feathers?

Because it is a guide for accountants who either wish for or are being told that they should have more advisory-based firms. 

For many accountants, this is a matter of confidence and understandably so:

• Advisory is a term freely banded around but what does it mean in practice?

• My clients have shown little appetite for it in the past, why is now any different?

• Do I have the skillset and the time to go down this path?

• Is my team capable of following me down this route?

• Is this what people expect of me?

• I can’t sell to my clients?

• I’ve been here before, what’s new?

Let’s start with what’s new. In short, everything!

Manual accounting systems and then misused and clunky computerised accounting systems made the path to advisory slow, cumbersome and expensive. Add to that a lack of systemisation in accounting firms and there was little to power more value-based conversations. 

Now we have access to real-time information so data is no longer the block. Instead, it is a mindset. How does the accountant change the client conversation from compliance-based to advisory when the accountant doesn’t believe they can fly and the client doesn’t expect to see them fly either? 

This is where Dumbo’s feather comes into play. 

I talk about advisory keys. These are apps or software tools that enable the accountant to quickly demonstrate in front of the client that they can fly. 

The accountant needs only believe in the app.

There is an increasing number of such tools coming onto the market that enable the accountant to do this. Products such as VFDPro, Whisperclaims, My Firms App, Life number, CAS, I’m merely scratching the surface.

I talk often to tech providers about the role that their product has in changing the conversations within an accounting firm and make the point that it’s not just about having a great piece of tech (that’s a basic requirement) but thinking about how the accountant can use it to efficiently and effectively engage the client and, as a double boost, their team.

Most accountants can fly, they’ve done it randomly for years without knowing it, but they need a feather, an advisory key, that they can place their faith in and use as tangible proof to the client, before their belief in their ability kicks in.

Then the sky is the limit.