“LivePlan gives you a platform for launching advisory services. It allows you to initiate new conversations with clients, so you can deliver value-added services at a higher monthly fee.”

The challenge

Growing and scaling monthly recurring revenue

Jason Meredith wanted to grow recurring revenue at Mid-South CFO by providing more value-added services to clients. But, as many firms discover, selling and scaling those types of services isn't easy.

Jason was already having conversations with clients about business planning and Strategic Advising. However, he needed a tool that would help him transition accounting clients into more strategy-focused engagements with a higher monthly rate.

On top of that, he also needed to provide advisory services in a more consistent and scalable way. Although Jason wants to be as flexible as possible for his clients, he knows he can't create an entirely new set of deliverables for each account he takes on. It's simply too time-consuming.

Jason pointing to statistics on a chart

The LivePlan Method solution

A “launchpad” for high-value advisory services

Jason learned about The LivePlan Method at the Scaling New Heights conference a few years ago. He liked what he heard and decided to give it a try.

After completing the LivePlan Method training program, Jason now feels that he has a more scalable process for delivering and selling high-value advisory services.

How Mid-South CFO works with clients

“You don't want to start from scratch with every relationship you have.”

Jason now offers clients three levels of advisory packages that allow him to provide the right level of service to the right customer at the right price. And by offering more streamlined deliverables, Jason is better able to scale his services—while still providing customized options to the clients who need them.

Here's a quick overview of the process Mid-South CFO follows when delivering advisory services:

Onboarding the client and set up

Jason works with the client to create a Lean Plan, a key component of the LivePlan Method.

Jason talking to a client at his desk

This Lean Plan is geared toward helping them hone in on the four most important aspects of the business:

  • What does their business sell?
  • Who does it sell to?
  • How does it sell?
  • What does it rely on to make all of that work?

He then analyzes the client's financial data, helps them set strategic goals, and builds a financial forecast that predicts the client's profits and cash flows. And because Jason uses LivePlan, all the metrics are displayed visually in charts and graphs that are easy for the client to understand.

“[LivePlan is a] platform to launch advisory services from.”

“We may spend five to six hours getting a new account established properly,” said Jason. “This includes a meeting with the client to go over the Lean Plan and forecasting model. We ask the clients to be involved in reviewing this and fine-tuning it initially. Also, we seek their input heavily on setting milestones for the future.”

Jason didn't have to build these packages and workflows from scratch. The LivePlan Method training helps advisors create and fine-tune their service offerings, so that they work best for their firm and their clients.

Jason talking about statistics with a client

Ongoing advising services

Once the client's account is set up, Jason will then periodically compare the company's actuals to their forecast, build reports for the client, and meet with them to discuss what the numbers mean and how they might influence their business strategy.

“After the initial setup, the client is more involved in helping us think through changes to their business plan and ongoing milestones,” said Jason.

How Mid-South CFO sells advisory services

Jason describes LivePlan as a “platform to launch advisory services from.”

“At the end of the day, they want to know that you understand their business and that you're looking at their performance as much as they are.”

By showing clients their financial data in a way that's easy for them to understand, Jason is able to spark discussions with clients about whether Strategic Advising services are right for them.

“I will typically draft a Lean Plan and connect their accounting software to LivePlan to give them a view of what the process would look like,” he says.

Jason also created a professional brochure using templates developed by the LivePlan training team. This document outlines the three advisory service levels that his firm provides, while still allowing Mid-South CFO to offer more customized solutions when it's the right fit for the client.

Jason is on the phone with clients

The result

More recurring revenue and improved efficiency

Jason now has a process that helps him grow his recurring revenue while also streamlining his service offerings.

Since implementing the LivePlan Method two years ago, Mid-South CFO has increased its monthly fee with many of its clients by an average of 125%.

Streamlined and scalable services

Jason and his team are able to provide advisory services more efficiently as well. This is because LivePlan gives advisors a framework for creating consistent deliverables that are easier to scale.

“The biggest thing is it gives you conformity of your platform,” said Jason. “Because these types of services can be pretty widespread, you don't want to be open-ended for every customer. LivePlan gives us consistency—it covers all the bases we need to offer these advisory services.”

“LivePlan gives us consistency—it covers all the bases we need to offer these advisory services.”

Jason says that LivePlan saves Mid-South CFO about two hours of administrative time per client each month.

But most importantly, LivePlan gives Mid-South CFO another powerful tool to help its clients become even more successful. And for Jason, that's what delivering advisory services is really all about.

“At the end of the day, they want to know that you understand their business and that you're looking at their performance as much as they are,” he says. “When you can come to a meeting and can demonstrate that, you become a de facto part of their team.”

« Return to case studies

Set up scalable & profitable advisory services.
Try LivePlan for Strategic Advisors free for 90 days.

Start now