Ongoing advisory services
After the setup phase, Ipsum helps clients track their financial plan against their actuals in LivePlan, so they can make the best possible business decisions.
“It's a win-win for everyone.”
The client gets regular financial reports and advice to help them understand their numbers. Ipsum's highest pricing tier, Peak Performance, includes one-on-one business coaching, more comprehensive forecasting and other services.
“We use the LivePlan outputs to provide a much neater and interactive way to present the financial picture of their business to them,” says Billy. “Many of the clients that we've helped along the way now have a better understanding of cost in their business and where they are spending their money.”
How Ipsum sells advisory services
Ipsum offers clients three tiers of advisory service packages, plus add-ons like private business coaching. These services are built around a monthly recurring value-based pricing system, which makes them easier to scale.
Billy says offering advisory with LivePlan is an “easy sell” once you learn how to use it.
But unlike compliance work, advisory services require a more proactive sales effort—and that’s where the LivePlan Method training really helped Ipsum.
“Many of our clients now have a better understanding of where they are spending their money.”
“You need to learn the software and then go to the client and give them a taste of advisory,” Billy says.
And to ensure they delivered the best product possible, Ipsum initially offered several clients six months of free advisory services in order to do practice work, commonly called a pilot project.
“This helped us test it out in the trenches, learn from our mistakes, and get some terrific client feedback to help us on our journey,” says Billy.
Right now, Ipsum is focused mainly on offering advisory services to their existing clients. But Billy says they plan to expand on this as they train more of their staff on how to use LivePlan.