Case Study: Ami Shah, CPA, Ms in Taxation, FCA

Overwhelmed, wanted help making crucial decisions and shifted mindset to value delivered instead of hourly billing.

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CLICK: Video Transcription

Q:How did you we meet?

[00:00:00] Trow Trowbridge: What do you recall of how we met?

[00:00:02] Ami Shah: As per my recollection, Trow sent out an email and I responded to. We had an introductory call and I wanted to give it a try. I have been looking for a coach for a while. Seemed to be a good fit. It wouldn’t hurt to try and he offered some of the guarantees that so far he has fulfilled.

Q: What was happening in your business where you needed outside assistance?

[00:00:23] Trow Trowbridge: You say you were looking for a coach. What was going on in your business where you thought you needed outside assistance?

[00:00:30] Ami Shah: I’m a sole proprietor and I’m a small firm. I was getting overwhelmed, to be honest, and that’s why I wanted a sounding board.

[00:00:37] There are certain decisions in my practice that I wanted to take, but at the same time wanted to hear an experienced view. So I have been looking forward to have somebody who can help me out, make crucial decisions.

[00:00:51] Trow Trowbridge: I’m certainly glad you hired me for the job. Along you have another coach too, which is interesting to have the two perspectives.

[00:00:57] You say it’s a small firm. In terms [00:01:00] of the world I work in, it’s a relatively large firm. So you’re very successful and have had a good run at building a firm, both onshore and offshore.

Q: Would you point to one success that proved this was a good business relationship?

[00:01:10] Trow Trowbridge: What success would you point to that might convince others that this would be a good relationship to embark on?

[00:01:19] Ami Shah: So there have been several success stories. The latest one that I successfully was able to sell a tax planning engagement for 10 times the fees than what I would typically I would charge like about $5,000. I had the courage, or Trow gave me the courage to charge based on the value that we were going to deliver, and we were going to save them over few hundred thousand dollars, or maybe I would say, close to $500,000 in terms of tax savings.

[00:01:49] And I pitched in the $50,000 fee and the client happily agreed to it. Quite a bit of credit goes to Trow or his coaching that I was able to [00:02:00] successfully pitch in the strategy and then command the fees for the value being delivered.

Q: What was the mind shift for you to ask to be paid what you’re worth?

[00:02:06] Trow Trowbridge: What was the mind shift for you? What allowed you to, in that moment to say, "this is what I’m worth and this is what I would ask you to pay."

[00:02:19] Ami Shah: Typically, earlier in the game, the mindset was, this is how many hours I’m gonna spend on the engagement and this is what I’m gonna bill based on the number of hours being spent on this engagement.

[00:02:32] Slowly and steadily, Trow made me realize that " this is not the only amount of time that you are spending on this engagement. You are spending on a daily basis, year after year to accumulate the knowledge to pitch in or find these strategies to be presented. So all that time or the value that has to be accounted for in terms of quoting a fee.

[00:02:55] And that’s how the mindset has changed now and it’s not about [00:03:00] the amount of time being spent on the engagement, but at the same time, it’s the amount of value being delivered to a client and charge accordingly.

Q: What advice would you have for others considering hiring me as their coach?

[00:03:08] Trow Trowbridge: Thanks for sharing that. What advice would you have for others that are considering hiring me?

[00:03:13] Ami Shah: I highly recommend Troy. He always brings up different ideas. He always brings in the resources which are in need of the hour. I highly recommend having a coach at the same time having a team who will look out for you and then having a seasoned professional like Trow to help you make the decisions, which will be crucial.

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