Clients asking for discounts
This is an issue that will grow as recession bites, so here is advice that works for accountants in the Runagood® Partnership:
Introduce all the services necessary to become the accountant of the future i.e., ‘Trusted Advisor and FD’ to every client
Tell them about their ROI from each service:
Compliance - we'll keep you out of jail
Financial administration- we'll save you a salary
Financial management - we'll put more cash in your bank
Business management - we'll grow your market value
Personal management - we'll ensure that the business gives you what you need
And your investment in our ability to achieve each of these will be far less than the gains you will make
You will pay by monthly DD to ease your cashflow – no lumpy surprises
And if your client is still insistent on buying the maximum and paying the minimum, give them a price for the minimum that makes a profit for you if they stay and less hassle for you if they go!
And a really good start is to compile a Business Dashboard® report before mentioning fees as the issues in the business will be clearly spelt out for them without you having to say a word!
More practical stuff from Runagood®