No excuse for bad behavior
Just because you’re an accounting professional, doesn’t mean you’ll be well respected by your clients. Basically, you set the standard. Clients, then, will follow your lead. So, do you tolerate clients who lack respect, are price sensitive and don’t value your services? As a business coach for accounting professionals, we fix that.
Maybe you’ve experienced firsthand a client texting you at 8am on Sunday morning. When you don’t respond within 15 minutes, another text pops up on your screen. And if your invoice reflects the after-hours request, an email arrives asking why that’s been added to the monthly invoice.
Or, you repeatedly reach out to your client regarding needed docs to file her tax return. All you get is crickets – no response. Then 12 hours before the October 15 filing deadline, all the docs are dropped off. Your client, of course, expects her taxes to be filed before mid-night.
Who’s Running Your Accounting Firm?
Accounting firm owners face unique challenges. Many of them will challenge your limits. Although rarely discussed, the most common problem is toleration. When you tolerate too much, then your firm runs you instead of you running your firm.
What do you continue to tolerate?
- People. Do you have clients you wish would leave? What about staff that adds to your workload?
- Places. When’s the last time you took a vacation? Or you prefer to work remotely, but still have a physical location.
- Practices. Where is there room for improvement? Maybe it’s workflow, onboarding, technology or specific services you offer.
- Perceptions. You maintain the status quo to avoid conflict.
- Prices. Your fees don’t reflect your value. And, legacy clients continue to pay your old rates.
Left unchecked, you end up with an upper limit challenge. That’s when you max out your earning potential because you maxed out your time. It’s a symptom of connecting your fees to time. As a result, you experience burnout.
It’s possible you’re ready for change, but unsure how to resolve your specific challenge. Concerns about making a mistake, or losing clients, keeps you stuck. Well, a business coach for accounting professionals works closely with you in those areas. As a result, you end up running your firm instead of your firm running you.
Business Coach for Accounting Professionals
With business coaching for accountants, we resolve the upper limit challenge. As a result, you become unchained from the things which drag you down. The burnout disappears. And, you turn your dream firm into a reality.
Take the case of Karyn, a bookkeeper. Essentially, she was overworked and underpaid. Her open-door policy meant clients dropped in – sometimes just to chat. And, one particular employee took advantage of her generous nature. This meant catching up on weekends; often working 7 days per week.
This wasn’t sustainable. It was eating into her profits, robbing her of time with her husband and drained her energy. Something had to change. But what?
The First Step
Karyn had heard about coaching for accountants, but was unsure how that worked. During our initial meeting, we discussed her firm, it’s challenges and her KPI’s for the next 12 months. This dedicated conversation offered insights into her accounting firm and it’s potential.
Business coaching for accountants applies the Raise Your Rates Formula.
- Your accounting firm’s value. Right from the start you clarify who’s a high value client for your firm. Once that’s accomplished, you get the script on how to communicate your value. As a result, you attract clients who respect you and happily pay your fees.
- Value price your services. Next, you start to separate your fees from time. Your packages bundle specific services together. In addition, you now get paid for services which you previously gave away for free or didn’t know how to charge for.
- Value conversation. If you don’t like the sales part, then this solves that. You never have to sell your services again. We turn your initial free consultations into a value conversation. At the end of the conversation, clients naturally ask how to get started.
- Value your time. You work too many hours. What part of your personal life did you give up? Our work together actually lightens your workload. Imagine regaining your free time.
You’ve already sacrificed enough for your accounting firm. Now it’s time to put things in place which raise your quality of life. Once again, this puts you firmly on the path toward your dream firm.
What’s the Cost?
Whether you’re a bookkeeper, enrolled agent or accountant, you know better than most, about the obvious cost and the hidden costs. Let me ask you, what’s the cost of continuing to tolerate the status quo?
- Time. Do your rates reflect your value? Or, do you say yes when you really mean no?
- Money. Most accounting professionals leave money on the table. What about you?
- Frustration. Burnout is a symptom of toleration. Let’s set boundaries so people treat you with respect.
Tolerating too much diminishes your firm’s potential. Rather than your firm run you, you run your firm. Doing this puts you on course to earn 2-3x’s more revenue, increase the lifetime value of a client and reduce your workload.
Your Next Best Move
Remember, there’s a reason you chose to own an accounting firm instead of work in someone else’s firm. It’s like compounding interest – the sooner you start, the more you profit over time. As a business coach for accounting professionals, we partner with you to achieve results at a faster pace than attempting to figure it all out on your own. Are you ready to get started? Then let’s talk about what’s possible for you.