Client Advisory Services, or CAS, has for years been touted as the ‘savior’ of the accounting profession, but few have provided a true roadmap (with pitfalls included).
The promise to accounting firms is higher revenue, and not needing to work with as many clients is attractive. Unfortunately, there are aspects of starting a CAS practice that tend to get overlooked, often leading to slow uptake or even failure.
So, I recently sat down with Deep Sky Accounting and CFO Club founder W. Michael Hsu and we got into it about the tips of his business’s success, as well as where accountants often go wrong on their path to CAS, and how having a network can help.
Check out this video chat and hear a real account of an entrepreneur who initially followed a CPA path, and ultimately found success in outsourced CFO services, which was not without its challenges and failures.