How to give “Value” without sacrificing your fees : Using the 5 Point Value Equation Formula to grow your firm

angry manDo you ever get the feeling that clients don’t actually value the work you do for them?

They might need their dentist, they might need their tattooist.

The pain, after all, is in a good cause.

And then, there’s the accountant.
Worst case – in their eyes – they’re paying premium fees to you, for the big bad tax man to keep on bashing them up – just not into absolute oblivion.

Quite the protection racket, as they sometimes seem to see it!
Doesn’t feel fair, does it?

On better days, you get to feel like a third world street vendor constantly forced to haggle over price, bringing it down and down just to win the business.

Surely you’re worth more than that!
If only those clients could understand the value you bring to the transaction, the value of a long term working relationship.

You’d love them to fully appreciate your years of study and experience that keeps their tax down (legally) or keeps them compliant.

The simple secret is getting valued for the value you give.

Once upon a time, an accountant could take it for granted that the stupendous value they gave to a client was identical to the stupendous value the client saw themselves getting.

Nothing more to see here, folks. Back to business as usual.

Now that old apple cart had been quite upset.

There’s a new wave of business owners and individuals who are bringing in their own expectations – such as, “Of course an accountant is going to know what I’m talking about when I say I want more. It’s their job to know. Surely they’ve been trained in it”.

Quite frankly, though, I’ve seen some accountants who are downright worried that “more” has surely got to mean just more hard work that they might not get paid for!

So, how do we turn this around so that everyone gets what they want?

In fact, we can create a new equilibrium with the Value Equation Formula I have developed.
•    Clients are happy because they are getting “more”.
•    Accountants are happy because they can give “more” AND charge for it.
•    Everyone is growing and prospering.

The truth is that good clients are not asking for more and expecting to pay less. confident woman

That may be a myth running around in your poor worried head!
A good client is happy to pay when they see the value of what you do for them – they get tangible value that they can see in their bank account.

Money they can count, put in the bank and grow the business with.

Here it is, then – my Value Equation Formula.

Let’s put the Formula to work and find out what “giving value” looks like.

It has 5 components:
1.    Business Performance Insights – so they feel supported and they can trust the numbers. Show them what’s happing in a way they can understand and feel a measure of control over.
2.    Product /service profitability – finding out what areas of their business are making them the most amount of money for the least amount of effort.
3.    Budgeting – help them get more prepared for upcoming expenses
4.    Cash flow Forecasting – they just want to feel more confident in the timing of changes and improvements, to make sure they have enough money to pay for things
5.    Continuously steady improvement and growth – they want to know that things are getting better.

Like to know more about giving your clients the value they’re asking for – AND being able to charge for it?

Contact me for a 10 minute “what’s it about call” or visit our website for my introduction “Diversify your Practice and Improve Cash flow” live webinar.

Speak Your Mind