How to have that ideal accounting practice: Part 3

This is Part Three of a Five -Part blog showing you how to double your accounting practice profits…

How would you like to have that “ideal accounting practice” with:

  • no capital tied up in debtors or work-in-progress,
  • no compliance deadline stress,
  • a bunch of happy clients who respect your opinion and value the benefits that you bring to their business
  • happy team members
  • a constant flow of clients referred to your practice each month

 

And here are the five steps:

Step 1: Reduce Your Administration Time
Step 2: Have a Brainstorming Session and Think of All the Services That You Can Offer Your Clients…. and I mean EVERYTHING
Step 3: How to Start That Discussion With Your Client
Step 4: Transitioning to Fixed Pricing With Your Clients
Step 5: Allow Your Client to Tell You What They Want to Pay

In last week’s blog we discussed the second step in this process to identify all the services that you can offer your clients and set them out in a menu of services that you can offer your clients and set them out in a menu of services showing NEEDS on one side and WANTS on the other. We are now going to introduce step three on how to start that discussion with your client.

At this point in time I just know you have two questions on your mind:

1. How do we transition clients into fixed pricing?

2. How do we start that conversation with the client about the new way of doing business?

The best way to start this process is to have a look at the client’s financials and look for ways of improving their bottom line. There are a number of books out there that will help you to do this and to assist with bridging that communication gap and creating a platform for you to have a conversation with your client about improving their bottom line. One tool that I have come across recently is a tool offered by Attachè Software called The Scorecard. With very little input of information The Scorecard process identifies areas of improvement in your client’s business and produces a report along with a dashboard that you can use to show the client that you do more than just fill in the boxes on income tax returns. The process takes very little time and is a great platform to commence those discussions with your clients about how you can work with them to achieve the improvements identified by the Scorecard calculator.

This is a complimentary program offered by Attaché to those accountants who want to improve communication with their clients.

View the introduction of Peter's plan to Double your Accounting Practice Profits
View Step 1 of Peter's plan to Double your Accounting Practice Profits
View Step 2 of Peter's plan to Double your Accounting Practice Profits
View Step 3 of Peter's plan to Double your Accounting Practice Profits
View Step 4 of Peter's plan to Double your Accounting Practice Profits
View Step 5 of Peter's plan to Double your Accounting Practice Profits

Can't wait for the rest of the steps? Then contact nhughes@morganmckinley.ie and I'd be happy to email this to you.

Gerald FitzGerald's picture
Chief Operations Officer Ireland
gfitzgerald@morganmckinley.com

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