Struggling Clients, Missed Fees? Turnaround Strategy Is Your New Revenue Stream
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If you’ve ever had a client who stops answering your emails, ducks their SARS payments, or suddenly "can’t afford" your monthly retainer, chances are they’re not ignoring you—they’re in trouble. Deep trouble.
Now here’s the thing: most Business Accountants in Practice spot the warning signs far too late—when the business is already bleeding cash, staff are being retrenched, and creditors are calling daily. But it doesn’t have to be this way. With the right tools, you can step in early, offer real help, and get paid well for it.
This is where Turnaround Strategy comes in—and it’s not just a lifeline for your clients. It’s a game-changing advisory service you can bill for.
Why You Need Turnaround Services in Your Practice—Today
Your SME clients are facing the full South African storm: load shedding, interest rate hikes, supply chain shocks, and unreliable payments. Many are one or two bad months away from collapse. And guess who they expect to fix it?
You. Their accountant. The one who knows their numbers and (hopefully) their business.
So don’t just report the disaster after year-end. Step in now, help them fix it, and turn their survival into your next income stream.
Step 1: Spot the Red Flags Before the Fire Starts
Too many BAPs only realise something is wrong when the financials are already a mess—or when the client cancels their retainer. But the warning signs are often visible months before.
You need to train yourself and your team to pick up on the following:
Chronic cash shortages despite sales remaining stable. If the overdraft is always maxed out, the business is silently screaming.
Frequent SARS non-compliance, like missing VAT, PAYE or income tax payments. These aren’t just admin errors, they’re signs of cash flow distress.
Ballooning creditor accounts. If supplier payments are being pushed out every month, the business is borrowing time it doesn’t have.
Debtors not paying on time, with no follow-up system in place. This affects both liquidity and risk exposure.
Directors drawing more than they earn, or pushing personal expenses through the business to "manage tax."
Use your management packs to build in a quick “health check” section—maybe five red flag indicators that you review monthly. If two or more are present, it’s time for a hard conversation.
You’re not just saving your client. You’re protecting your own fees and reputation.
Step 2: Grab Control of the Cash
When a business is in distress, the P&L becomes almost irrelevant. Cash is king. Liquidity is everything. Your first job as a turnaround advisor is to stabilise cash.
Start by helping your client:
List every outgoing payment for the next 30 to 60 days. Include salaries, rent, SARS, suppliers, loans, subscriptions—everything.
Categorise payments into essential, delayable, negotiable, and unnecessary. This is where the real decisions start.
Create a “cash defence” plan. This should include:
Collecting overdue debtors immediately (even if they offer settlements).
Halting all non-essential spending—postponing asset purchases, cancelling subscriptions, reducing director drawings.
Speaking to the bank about temporary overdraft relief or payment holidays.
Engaging SARS proactively about a payment plan. Don’t wait for a final demand.
Introduce a daily or weekly cash dashboard for the business owner—simple, visual, and updated regularly. They may not understand accrual accounting, but they understand when the bank balance hits zero.
Make sure they get into the habit of asking, “Can I pay for this now?” rather than, “Will this reduce my tax?”
Step 3: Get Under the Hood and Diagnose the Real Problems
A lack of cash is never the root problem, it’s the symptom. Your job is to find the engine fault before the wheels fall off.
This step is where you become more than just the accountant. You become the business advisor your client desperately needs.
Conduct a rapid diagnostic review of the following:
Sales and margin analysis: Which products or services are making money? Which ones aren’t pulling their weight? Look at contribution margins, not just revenue.
Customer concentration: Are they relying on one or two big clients? That’s risky.
Cost structure: Are salaries and fixed costs too high for current turnover? Is the business carrying deadweight roles?
Operational inefficiencies: Are there stock losses, process duplication, or supplier wastage?
Debt profile: What are the current interest obligations? Are repayments structured realistically, or were they based on better days?
Ownership and governance dynamics: Are decisions being made emotionally, or based on data? Are there too many family members involved with no clear roles?
Deliver your findings in a way your client can understand. Keep it direct, but constructive. You’re not criticising—you’re prescribing.
Step 4: Build a Real Turnaround Plan (Not a Wishlist)
This is the heart of your service—and it must be practical.
The turnaround plan should be:
Short-term focused (3 to 6 months)—with realistic, clearly defined steps.
Action-driven—every recommendation must have a person responsible and a deadline.
Measurable—include targets like debtors days reduced from 90 to 60, or overheads trimmed by 20%.
Start with these sections:
Immediate actions (cash cuts, SARS engagement, debt collection)
Structural changes (product lines to discontinue, team restructuring, closing unprofitable branches)
Sales priorities (re-engage lost customers, test new pricing, bundle services)
Process improvements (stock controls, supplier terms, workflow bottlenecks)
Include a communication plan. This isn’t just internal, staff need to know what’s going on, and so do key suppliers. Managing relationships is half the battle in a distressed business.
And don’t be afraid to recommend professional help—business rescue, legal advisors, or HR consultants—when necessary. You don’t have to fix everything yourself. You just have to lead the strategy.
Step 5: Monitor, Report, Repeat
A turnaround doesn’t succeed in the planning—it succeeds in the follow-through. That’s where most businesses fail. They get excited by the strategy and forget the discipline.
This is your opportunity to lock in a monthly advisory engagement. Charge for:
Monthly reporting packs, with updates against KPIs.
Progress meetings, where you hold the client accountable and help problem-solve.
Cash flow reforecasting and supplier payment planning.
Keep the momentum. Celebrate small wins. Revisit the plan every month and adjust it as needed.
Create a dashboard that shows:
Bank balance vs buffer target
Collections vs overdue receivables
Cost reduction achieved to date
SARS compliance score (how current they are)
This creates visibility, urgency, and ownership. It also creates ongoing value that justifies your fee.
Clients Will Pay for This—Because It’s a Lifeline
When a business is in distress, they’re not looking for theory. They want to know:
Can I pay my staff next week?
Can I keep the lights on?
Can I survive the next SARS demand?
Can I get this business back on track?
You can help answer those questions. And that’s worth a lot more than last year’s financials.
What You Can Do Now
✅ Identify three clients who are showing signs of distress
✅ Offer a short "Business Health Check" session to open the door
✅ Create a packaged advisory offer with fixed fees for turnaround strategy
✅ Build in simple tools: cash flow planners, red flag checklists, KPI dashboards
✅ Position yourself not just as the accountant—but the advisor who saves businesses
Don’t let another client go under when you had the tools to step in.
Use your insight, lead the recovery—and build a service that makes a difference and a profit.
Join the CIBA Practice Management Roadshow 2025 here. Growing Practices. Growing the Economy.
SA’s Accountants Deserve More Than Deadlines and Drama—You Deserve a Roadshow That Gets You Paid
If you're tired of compliance stress, chasing clients for fees, or wondering how to turn your skills into serious revenue, the CIBA 2025 Roadshow is where your next breakthrough starts.
We’re bringing hard-hitting, money-making content to your city—no fluff, no theory, just strategies you can use the moment you walk out.
✅ Position your practice as a premium service clients value
✅ Discover practical ways to charge more—and get paid on time
✅ Learn how to grow your advisory offering without working more hours
✅ Walk away with resources you can actually use in your practice
Seats are limited, but your potential isn’t.
👉 https://cpd.myciba.org/2025-roadshow/
#CIBA2025 #PracticePower #BusinessAccountant #TurnComplianceIntoCash #RoadshowForAccountants
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