How To Stand Uup To Your Clients
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The document offers strategies for professionals on how to effectively stand up to clients regarding payment and pricing issues, emphasizing that just because a client pays, it doesn't ensure profitability. It outlines three common challenging situations: getting paid on time, raising prices, and firing clients, with suggested solutions such as simplifying billing and communicating price changes clearly. Additionally, it promotes 'Practice Ignition' as a tool to streamline client engagement processes and reduce administrative burdens.
![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,](https://image.slidesharecdn.com/howtostanduptoyourclients-final-150602154128-lva1-app6892/85/How-To-Stand-Uup-To-Your-Clients-16-320.jpg)
How To Stand Uup To Your Clients
- 1. How To Stand Up To Your Clients
- 2. If you are anything like me you probably hate awkward situations
- 3. 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
- 4. 3 Common Situations • Getting paid on time • Pricing changes • Firing clients
- 5. Sticky situation 1: Getting paid on time As an entire global industry, accountants pander to their clients when it comes to getting paid. Why?
- 6. Why is this bad? • Your time and resources; • Your relationship with your client; • Your cashflow and your profit.
- 7. How much does this cost your business?
- 8. How do we fix this? • Simplify billing • Get paid upfront • Don’t be afraid of the stick
- 9. Simplify Billing Billing in this industry is a mess!
- 10. There’s a much simpler way… Get paid UPFRONT!
- 11. The stick If you don’t get paid, DON’T DO THE WORK!
- 12. Sticky situation 2: Raising your prices Why do we find it so difficult to ask for more money?
- 13. Why do price changes happen?
- 14. How do we approach the price rise?
- 15. Explain it to your client
- 16. 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,
- 17. Update your agreement, make sure it’s clear and get it signed
- 18. But they might leave! Remember the first point, just because they are paying you does not mean you are making money
- 19. 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.
- 20. Why should I fire a client?
- 21. How to fire a client
- 22. How to prevent having to fire a client!
- 24. 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.” Super fast annual re-engagements using PI’s Bulk Rollover feature (eliminating weeks/months of work). Bullet-proof engagement compliance = Practice Inspection Friendly! Business Intelligence you simply can’t get from word docs = Ignite your practice!
- 25. 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.
- 26. 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!
- 27. 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