As an accountant or strategic advisor, you’re more than a number cruncher you’re a trusted growth partner. Small business owners depend on your expertise to make informed decisions, achieve financial goals, and scale sustainably.
In this guide, we’ll walk through a proven monthly process for delivering high-impact strategic advising services that help small businesses stay financially healthy and growth-ready.
Why Strategic Advising Matters for Small Business Clients
Most small business owners can’t afford a full-time CFO. That’s where you come in. As an external strategic advisor, your insights provide affordable, high-value financial direction.
Your role goes beyond tax prep or bookkeeping you’re guiding key decisions like:
- “Which of my products are actually profitable?”
- “Can I afford to hire next quarter?”
- “Is now the right time to scale operations?”
This kind of advisory support gives business owners clarity and confidence especially during uncertain times.
Monthly Strategic Advisory Meetings: A Recurring Growth Framework
To deliver maximum value, aim to meet with your clients monthly. A regular cadence allows you to monitor progress, adjust plans quickly, and deepen trust.
These monthly sessions can be virtual or in-person but the format isn’t as important as the structure. Here’s how to run your advisory process in two phases:
Part 1: How to Prepare for the Monthly Strategic Advising Meeting
1. Complete and Update the Financial Forecast
At the core of every advisory meeting is a financial forecast that covers:
- Profit & Loss (P&L)
- Cash Flow
- Balance Sheet
This forecast doesn’t need to be perfect it just needs to be realistic and updated. Start with revenue projections and layer in costs, staffing, and cash assumptions. Use financial forecasting software to simplify calculations and maintain consistency.
2. Ensure Accurate Month-End Close
The next step is verifying that all transactions are properly recorded. Accurate financial statements are essential for comparing actual results to your forecast.
Identify gaps these are your conversation starters for the meeting. Large variances indicate operational challenges or opportunities. Tight alignment means the business is on track or perhaps ready to raise the bar.
4. Prepare Insightful Questions (Not Just Answers)
Don’t enter the meeting with a list of conclusions. Instead, come with questions backed by financial evidence:
- “Why are AR days increasing?”
- “Was the gross margin jump due to lower material costs or better efficiency?”
The goal is collaborative discovery. You bring the financial clarity, while the business owner brings day-to-day context.
5. Add Industry Benchmarks (Optional but Powerful)
Comparing the business’s performance against industry averages can add valuable perspective. Use this data strategically to highlight areas of strength or expose missed opportunities.
Part 2: Running the Monthly Strategic Advising Meeting
1. Start With a Sales-Focused Conversation
Kick off the meeting with a sales check-in. It’s a topic most business owners are comfortable with, and it opens the door to deeper operational discussions.
Avoid letting the conversation spiral. Keep it focused, encouraging the client to share wins and worries from the past month.
2. Review Metrics and Ask Strategic Questions
Next, guide the client through the financial metrics. Don’t overwhelm them highlight key insights and ask questions that tie directly to operations.
Examples:
- “Revenue dipped were there changes in marketing or customer demand?”
- “AR is rising. Are collections slowing, or are you seeing a spike in sales?”
- “Gross margin improved did you negotiate better rates or reduce waste?”
This is where the real value of strategic advising shines: interpreting numbers into actionable business strategy.
3. Identify Wins and Set New Goals
With your analysis in hand, collaborate with your client to:
- Celebrate where goals were met or exceeded.
- Identify areas that need improvement.
- Adjust short-term goals or create new stretch goals.
For example:
- “Your sales have outperformed for three straight months. Let’s raise your monthly targets.”
- “AP days are climbingm can we tighten purchasing processes?”
4. Update the Forecast Based on Real-Time Insights
Now it’s time to adjust the forecast based on recent performance and strategic decisions. Update revenue, expenses, staffing, and cash flow assumptions for the next 6–12 months.
If the business is exploring major changes (like hiring, expansion, or financing), create multiple forecast scenarios to weigh the impact of each decision.
5. Build a Monthly Spending Plan
The updated forecast now becomes a working financial roadmap.
- Use the P&L to guide spending.
- Use the cash flow forecast to manage liquidity.
- Use revenue projections to set sales targets.
Encourage your client to use the forecast as their north star not just a reference but a decision-making tool.
6. Schedule the Next Meeting + Send a Summary
Before closing the meeting, lock in the date for next month. Follow up with a clear, written summary that includes:
- Key findings
- Adjusted goals
- Agreed next steps
- A link to schedule the next session
This summary reinforces your value and keeps the client accountable.
Why Accountants Are Perfect for Strategic Advising
You already have two critical ingredients for success in advisory work:
- Client trust You’ve built credibility through years of service.
- Financial knowledge You understand the story behind the numbers.
What holds most accountants back is overthinking the process. But once you adopt a clear monthly system, you’ll be able to confidently deliver strategic guidance and build a more profitable service offering in the process.
Unlocking Growth Through Financial Strategy
Strategic advising is where accounting meets business impact. With the right tools, cadence, and mindset, you can shift from simply reporting numbers to driving real business growth.
Small business owners don’t just want data they want direction. Be the partner who helps them move forward with clarity and confidence.
