Iget to meet so many accountants and one challenge they all face is….. why is it that some clients are a joy to deal with, value our service and pay us a good fee, whilst others take all our time, pay less and are a pain in the backside.
The question they constantly ask me is….. how can we get paid more for the hard work that we do?
So I’ve put together my 7 Step Battleplan that solves this problem once and for all.
It will help you to get rid of the time wasters, charge more for your services, deliver greater value to your clients and make life a lot easier.
It’s very logical to implement, it takes just 7 days before you start seeing results and within just 3 months, your firm could be dramatically different.
Are you ready to change your firm?!?!!?!?!?….. well here we go.
Summary Of The 7 Step Battleplan
STEP 1 | Unify Your Pricing
If you’re not reliant on a 100% consistent, unified pricing system for your firm, then you are reliant upon people. You therefore don’t have a business, you have a collection of freelance accountants all making their own decisions about what to charge who. This causes the majority of your pain and problems…. FACT!
STEP 2 | Seal The Profit Leakages
You need a pricing system that prevents profit leakages, so that the price adjusts based on your client’s demands, their circumstances and the EXACT level of service you provide. This is where most accountants lose money.
STEP 3 | Carry Out Fee Reviews Every Quarter
Your client’s circumstances change. They generate more income, have more staff, have more bank transactions, require more services or a different level of service. If you are therefore leaving fee reviews until the end of the year, you are missing out. (Just a note here, in my firm, we only change our fee based on the client’s revenue going up, once a year….. unless it goes up significantly.)
STEP 4 | Stop Charging By The Hour
If you charge by the hour, then there is no incentive for you to improve your efficiencies. And remember… the client doesn’t care. They only care about the results they get. Use technology. Outsource. Implement systems. Work smarter.
STEP 5 | Leverage Your Team
Your team is your greatest asset. Leveraging your ENTIRE team to sell to prospects and clients is the fastest way to deliver more value. They will have mindset issues around this, but these can be quickly blasted away.
STEP 6 | Flush All Of Your Clients Through Your Pricing System
Once you have all of this in place, and the tools to deliver it consistently and fast (that’s the key… FAST), you can now flush all of your clients through the system. This will force you to make a decision about those low paying clients, but that doesn’t have to be as hard as you think.
STEP 7 | Provide Greater Value To Your Top Clients
Do all of your clients know everything you do? Could you be serving your top 20% of clients to a higher level? Are you being fair to those clients by providing them with services that will save their time, save their tax and boost their income?
The plan now is to take action. If you don’t change anything in your firm, then nothing will change for you. And it’s doesn’t have to be a big step. Just take one step, right now, while you’re motivated and build from there.