“Spending time onboarding can be tough for firms because it's not billable, but it is probably more important for the value proposition.” – Chris PapinThe finer details of this episode:<ul><li>Scoping, setting boundaries, and having next step conversations with clients</li><li>Subscription-based model and building slack into engagements</li><li>Managing scope creep in advisory work</li><li>Impact of economic changes on client needs</li><li>Aligning client and firm expectations</li><li>Implementing change orders for additional services</li><li>Onboarding and spending time on non-billable activities</li></ul>Episode resources:<ul><li>Summit Virtual CFO by Anders website: <a href="https://www.summitcpa.net/">https://www.summitcpa.net/</a></li><li>If you have questions or would like to be a guest on the show, email us at <a href="mailto:mcpasuccessshow@anderscpa.com">mcpasuccessshow@anderscpa.com</a></li><li>Check out the Virtual CFO Playbook Course: <a href="https://vcfoplaybook.summitcpa.net/">https://vcfoplaybook.summitcpa.net/</a></li><li><a href="https://www.papincpa.com/">https://www.papincpa.com/</a></li><li><a href="https://www.linkedin.com/in/chrispapin/" target="_blank">https://www.linkedin.com/in/chrispapin/</a></li></ul> Timestamps:The Introduction (00:00:00)Introducing the podcast and its mission to provide insights on accounting strategies and services. Chris Papin's Background (00:00:56)Chris Papin shares his journey and the motivation behind his multi-disciplinary approach to accounting, law, and insurance. Ethical Trust Advisor (00:04:24)Chris discusses the importance of ethical trust advisor pillars and the difference between scope and boundaries in client relationships. Scope and Boundaries (00:06:45)The discussion delves into the approach to defining tasks and boundaries in accounting services, emphasizing the need for flexibility and communication. Strategic Advisor and Boundaries (00:13:18)Chris explains the role of a strategic advisor and the ongoing conversation needed to establish and maintain boundaries with clients. Client Communication and Education (00:17:02)The conversation revolves around the challenges of communicating technical accounting concepts to clients and the importance of client education and trust-building. The slippery slope of advisory work (00:20:32)Discussion on the challenges of defining boundaries and managing scope creep in advisory work. Talking about talking about it (00:21:48)Emphasizing the need for action and the impact of missed deadlines on client behavior. Value and hard conversations (00:25:00)Exploring the importance of adding value, having opinions, and asking tough questions in client meetings. Client expectations and firm alignment (00:33:06)Aligning client and firm expectations early in the process to determine next steps and potential change orders. Empowerment and change order process (00:38:55)Discussion on team empowerment to handle conversations and initiate change orders, with consideration for unique client situations. The client's expectations (00:40:05)Managing client expectations and limitations when dealing with out-of-state matters. Client engagement model (00:40:56)Discussing the importance of clarity in scoping, fees, and trust in client relationships. Value proposition and onboarding (00:42:47)Emphasizing the significance of understanding client needs and effective onboarding for a successful value proposition. Reflecting on client boundaries (00:43:11)Recognizing the need to assess and address potential client relationship boundaries and discomfort in addressing issues. Concluding remarks (00:44:07)Expressing gratitude and appreciation for the insightful conversation.

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Strategies for Setting Boundaries and Managing Scope in Advisory Work with Chris Papin

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