8 Steps to Get Your Team On Board with CFO Services

Whether or not you believe the “compliance is dead” chatter in the accounting and bookkeeping space, there’s a good chance you have given at least a little thought to offering CFO (or advisory or CAS) services to your clients.

After all, your colleagues who have gone this route are boasting higher revenues, better profits, and improved work-life balance…all things that sound pretty darned good as you’re staring down that list of missing client W-9s and the growing pile of tax organizers in your inbox.

So, you’re sold, but one thing is still standing in your way.

Your team.

Why your team is pushing back

It’s easy to bristle when your team pushes back on something you know will make your firm better, not just for your clients, but also for your team. Often, firm leaders tend to go down a “judger path” of thinking their team is lazy – that we’ve made work too easy for them, and they’re pushing back because we’re taking away their on-the-clock Instagram time.

But your team isn’t pushing back on offering enhanced client services because they’re lazy.

They’re pushing back because they’re scared.

Fortunately, there are eight easy steps that will help your team not only stop pushing back on your vision to offer CFO services, but that will also get them excited about this change in your firm’s journey.

8 steps to get your team on board with CFO services

1. Tell them why. Now, this isn’t the time to come in with the “AI-is-taking-all-the-compliance-work-away-so-we-must-adapt-or-die” spiel. That is not the way to dispel fear. Instead, focus on how CFO offerings will increase the “stickiness” of your clients and allow everyone to do deeper work…meaning more money for everyone without having to bring in more clients.

2. Highlight the benefits. More money for less work is one compelling benefit, but there are other things your team might enjoy as your firm engages in more CFO work. Deeper relationships with the clients they already enjoy working with, increased satisfaction of seeing those clients act on this new guidance and thrive as a result of it, and the opportunity for your team to learn new skills are a few that can be guaranteed right off the bat.

3. Involve your team in planning. Your best employees are what we like to call “intrepreneurs”: They take ownership of their jobs and the work they do, much like they would if they ran their own firms. So, give these employees a say in the planning phase of your firm’s CFO approach. Let them help you develop the roadmap and milestones. Listen to their perspectives about which teammates will be the best for each enhanced role. Doing this will make the folks the rest of your team already look up to your biggest cheerleaders as you roll out CFO services.

4. Provide training… and make it clear you are providing it. No one outside of the cast of Office Space wakes up and wonders how they can suck at their job each day. Your team wants to know that they can do a wonderful job, and part of the reason they’re resisting you on offering CFO services is because they aren’t confident they can provide this level of service to your clients. So, invest in a training program for them (may we humbly suggest Profit First Professionals, where you can have up to five members of your team complete our certification courses?) and let them know you are providing this training as a benefit.

5. Offer incentives. And tie those incentives to performance. Sure, you could provide bonuses, but think outside of the box, too. Remember when you used to have a pizza party if everyone in the class participated in the gift wrap sales drive? Why not host a fun activity for your team if everyone talks to at least three clients about your new CFO offering? Or set up a leaderboard and update it at the start of each team meeting. You know your team best, so do whatever will resonate with them and get them involved – and bought in – on this new CFO approach in your firm.

6. Start small. We’re rather proud of our Profit First Professionals CFO Playbook, but if you show this to your whole team at the very beginning, they’re going to freak out. Work with your A-players to develop the roadmap and milestones for your CFO services, but then only share the 3–4 areas you are focusing on first. Then, once your team has success in those areas, introduce a new one.

7. Clarify roles and responsibilities. Our CFO approach is one any member of your team can be taught to implement, but that doesn’t mean that every member of your team will want to take on a more advisory role. Despite what the doomsayers say, there will be a role for compliance work for years to come. What’s more, your advisory team will need solid, compliance-based financial statements in order to do their work. In other words, clarify the roles and responsibilities of each team member, and let them know there will still be a place for everyone on the team to work in their zones of genius.

8. Check in often. Finally, CFO services aren’t a “set it and forget it” offering in your firm. Plan regular meetings — weekly at first, then monthly — to gauge the progress, success, and challenges your team is facing. Take an iterative approach to personalizing CFO services for your clients and your team. This will show your team you are committed to the success of your CFO services initiative, which will in turn make them committed to its success.

By following these 8 steps, you can get your team to stop resisting you on adopting CFO services in your firm. You might even find that they start pushing you to move faster!

(Psst: Did you catch the hint we dropped in #4? The Profit First methodology is more than just bank accounts. We’ve created an entire CFO system you can integrate in your firm… AND your team can participate in Profit First Professionals training, too. If you’re interested in learning more, apply now to become a member.)