The Issues

The Principal was providing mainly accounting and compliance services to his clients.

He began to understand that there were SME clients who required support to assist them to grow their businesses

The feedback that the Principal received from clients who went to another Accounting Firm was that they “felt that they outgrew the accounting firm” and “the only time they spoke to them was about the compliance work.”

The Approach

I met with the Principal to identify which clients wanted the additional services.

I spoke to him about the YBF Mastermind Group service and the benefits and features of the Group.

We organised to conduct an information session Mastermind Session to over 20 SME Clients.

We outlined the features and benefits, along with the value it will bring to their business and the potential opportunities to form strategic alliances and referral relationships with the members.

The Result

• 14 SME Clients signed up to the monthly Mastermind Group sessions.
• The average revenue increase of members in the Group was 12% in the first year.
• The Principals average fee increase from these Mastermind Group clients in the first year 17%.
• Each member was able to discuss issues and challenges with the Group members where they received solutions and actions so they could implement in their business.
• Members provide accountability and support to each other.
• New alliances and referral relationships were formed.