How To Stand Uup To Your Clients
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Transcript of How To Stand Uup To Your Clients
How To Stand Up To Your Clients
If you are anything like me you probably hate
awkward situations
If you only take one thing away from today’s session,
remember this: Just because a client is paying
you, does not mean you are making money
3 Common Situations • Getting paid on time • Pricing changes • Firing clients
Sticky situation 1: Getting paid on time
As an entire global industry, accountants pander to their
clients when it comes to getting paid. Why?
Why is this bad? • Your time and resources; • Your relationship with your
client; • Your cashflow and your profit.
How much does this cost your business?
How do we fix this?
• Simplify billing • Get paid upfront • Don’t be afraid of the stick
Simplify Billing Billing in this industry is a mess!
There’s a much simpler way…
Get paid UPFRONT!
The stick If you don’t get paid,
DON’T DO THE WORK!
Sticky situation 2: Raising your prices
Why do we find it so difficult to ask for more money?
Why do price changes happen?
How do we approach the price rise?
Explain it to your client
Dear [client], Since our firm was started in [year] we haven’t increased prices. Through annual infla@on, market crashes and rate rises we’ve kept our prices compe@@ve and affordable. Whilst being fair to you through this @me, we trust that you have appreciated this and can now understand that like you, we are also a business and need to align our prices with the value we are offering you. Moving forward you will receive a new engagement leGer which will detail what our annual percentage increase will be. As a courtesy to you we also think you deserve to know in advance how much the job will cost and what it entails. As a modern & progressive firm we have decided to change this ‘old’ business prac@ce as of [date]. What that means is before every job starts we will let you know how much it will cost you. There will be a method of wriGen communica@on that you will need to sign off on. If you are unhappy with the outline of the project (or the price) you will have the opportunity to discuss that with us at the outset. We appreciate your business very much and we are confident that this new method of pricing will enable us to give you far beGer customer service. All the best,
Update your agreement, make sure it’s clear and
get it signed
But they might leave! Remember the first point, just because they are paying you
does not mean you are making money
Sticky situation 3: Firing clients
Just like staff who don’t perform well and add value to your
business, so too clients can be fired if they don’t add value to
your business.
Why should I fire a client?
How to fire a client
How to prevent having to fire a client!
Supercharge these steps!
With Practice Ignition you can Set up and maintain your Fixed Price Services in minutes.
Practice Ignition will help you:Establish a process for the best client on-boarding experience. period.
Lightning fast proposal creation. Engage new clients in a matter of minutes.
Clients click to accept = no more print/sign/scan.
Edit existing engagements to eliminate scope creep/ handle up-sells = no more new documents or “handshake agreements.”
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Bullet-proof engagement compliance = Practice Inspection Friendly!
Business Intelligence you simply can’t get from word docs = Ignite your practice!
With Practice Ignition you can Create and send your Engagement Letter in minutes, not hours.
Really? how has PI helped other accountants?
Practice Ignition eliminates the burdensome task of creating engagement letters and obtaining client signatures - Adam Puckett, Delap LLP, Portland OR.
I'm not even finished my trial of PI yet and I've had two major proposals accepted. They were cohesive, formal and professional and I know PI made all the difference. - Elaine Orr Morgan, balancesheets.ca, Canada.
My first proposal was accepted before I had a chance to click back to Outlook! I need an "easy button” - Rachel Barnett, Primarily Bookkeeping, Seattle WA.
Saves oodles and allows you to focus on developing a client relationship and achieving the desired outcome, rather than administrative tasks - Alycia Edgar, Business Performance HQ, Australia.
Our key takeaways • Simplify your billing to get paid on time • Communicate your price changes, but
be firm • If your client doesn’t add value, fire
them! • Stand up to your Clients!
Work on the beach is not a figure of speech
Start saving time now
As a member of CPA Academy we give you three months FREE!
http://www.practiceignition.com/cpaacademy