Occasionally I struggle to work out how best to help an accountant or an accountancy firm connect with the real value that they deliver to their clients, especially their business-owner clients.
In this podcast discussion with Stephen Pell, you'll hear Stephen and I unpack the emotional part of the value equation, drawing on Stephen’s knowledge and expertise in his work with music artists.
Stephen and his team of 15 people serve artists primarily in the UK, expanding into the US. And he does a brilliant job of demonstrating how to set up and run a niche accounting firm. But he also has many insights for all accountants, specifically around the importance of building an emotional connection with clients.
So please join me and Stephen at humanisethenumbers.online or on your favourite podcast platform – Apple, Spotify or others – and see what you make of Stephen’s valuable insights.
People are different - every single person, every single relationship is different.
We have this concept, I'm not quite sure where I borrowed it from, it's called the emotional bank account concept, whereby we see our relationships with our clients as a bank account.
We do good things and it goes into the black, we get credits, but when something bad happens, something big, that’s a minus in the bank account.
But equally, little things can chip away and take us into the red. We're very conscious of that, so it's about fostering that emotional relationship.
Our clients expect me to file their accounts on time - just the fact that I’ve done it doesn't mean it's good, it’s an expectation.
What they value is conversation, understanding, being listened to, being heard. Because it can be emotionally difficult working in the music industry, it’s tough, they need support, they want someone to talk to and want someone who's got their back.
Connect with Stephen
Connect with Paul
Transcript - Unedited
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What does Humanise the numbers mean to you?
The importance of culture
Team engagement/ project based timelines
How did you build a client base?
What drives clients to you?
Compliance and advisory?
Challenges in this niche
Click the play button below and use the slider on the audio below to get quickly to the chapters in the podcast.
Resources relating to this podcast:
Listen to Paul and Stephen discuss the value of the culture within his firm and its value to his team. Stephen places a great deal of importance on the emotional pay-off for his team of the work they do. It's vital to him that they feel passionate about their work, the industry and, above all, the music.
He speaks about the camaraderie, the stories his team tell (which create the culture), the things that happened on tour that only they know about, and how all of this has fostered emotional relationships with his team and with their clients.
This Bitesize Business Breakthrough will show that if you can build a sense of fairness, achievement and camaraderie within your team, you’ll tap into an ocean of enthusiasm, drive and motivation, just as Stephen has.
Click the link on the button to read this report and discover the difference an emotionally invested and engaged team can make to your firm.