The Power of Listening: Michael Ly on Transforming Sales in Accounting

Summary

In this conversation, Michael Ly, founder of Reconciled, shares insights on the importance of listening in sales, the unique structure of his accounting firm, and how to build trust with clients. He emphasizes the need for accountants to ask the right questions and focus on client needs rather than just selling their own skills. The discussion also touches on the challenges of standardizing client experiences and the role of AI in the accounting industry.

Takeaways

• Listening is crucial in sales calls.
• Building trust with clients is essential.
• Accountants should focus on client needs.
• Standardizing services can improve client experience.
• Sales is about asking the right questions.
• Rejection is a part of the sales process.
• You can delegate client work to others.
• AI cannot replace the human element in sales.
• Execution is key to success in business.
• Good work is valued by clients. 

Connect with Michael on LinkedIn: https://www.linkedin.com/in/michaelly/

Chapters

• 0:00 Introduction to Reconciled and Michael Ly's Journey
• 1:30 The Art of Listening in Sales
• 4:49 Overcoming the Fear of Rejection
• 8:12 Effective Listening Techniques for Accountants
• 11:40 Shifting the Focus from Self to Client
• 14:04 Standardizing Sales Questions for Success
• 16:09 Building Trust Through Listening
• 18:50 Sales Strategies and Conversion Rates
• 20:58 The Importance of Standardized Processes
• 24:46 Creating a Uniform Client Experience
• 27:02 Hiring for Personality vs Credentials
• 30:54 The Human Element in Business Relationships
• 32:10 Canopy Podcast Outro