The Heart of Business Success – A Variety of Service Packages
Once you switch from hourly rates to service packages, your income grows. Clients decide which option meets their needs and budget. Instead of one size fits all, you now offer options that meet the needs for a range of clients.
Time is a constraint. Working individually with each client limits your income potential. Eventually, you experience an upper limit challenge when you charge by the hour. When you connect your fees to time, the only way to earn more is to work more.
On the other hand, packages create multiple streams of income. So let’s optimize your time.
Private Service Packages
Individual clients are the fastest way to grow your income, especially when in the start-up phase. You may think a client is buying your time. However, that’s not true. Clients hire you to help them achieve a desired result.
Yes, your clients benefit from your individual attention. Instead of tracking time and sending your clients a line-itemed invoice at the end of the month, bundle the tasks together.
Packages emphasize an outcome. Yes, you still work exclusively on one client file at a time. Overall, it starts to separate your fees from time.You may think a client is buying your time. However, that’s not true. Results are more valuable than time.#getpaidwhatyoureworth Click To Tweet
When clients enroll in a package, they’re making a commitment, financially and energetically. Clients who invest in your services to achieve an outcome are better clients. They respect your insight and follow through with your recommendations. It’s a win-win. Highly invested clients typically achieve better results than price-sensitive clients.
Group Service Packages
Accounting professionals rarely consider how to leverage income in their firm. Even with an accounting practice, opportunities exist to work with several clients at one time. Maybe you’re not sure how that works. Brainstorm various ways you can offer a high value service where it’s one to many.
Types of Group Services to Include in Your Packages:
- Virtual training courses
- Group calls
- Webinar series
The amount you earn for your time increases with this model. Although the rates for group programs are lower than private sessions, you potentially earn more than your hourly rate.
Some clients prefer DIY (do it yourself) packages. They receive the benefits of your expertise and wisdom without any direct impact on your time. So, the price point is lower than your other options.
With self study programs, you initially invest time to create the course. Then your clients follow your step by step instructions at their own pace. You set it up once and then automate it.
I tell my clients that this is like creating your own personal ATM machine. As a DIY program, you get paid while sleeping or on vacation.
Creating a DIY program
DIY service packages can be developed in a variety of ways. Maybe you hosted an event and now you offer the recordings. Consider turning your group training into a self-study program. Or, you can create a private series of videos which teach clients how to accurately maintain their books.
Clients rarely receive much, if any, support with pre-recorded packages. On the other hand, this is a low risk way to introduce them to your accounting services. Since people learn in a variety of ways, consider including worksheets and guides for best results.
Be clear that this is a do-it-yourself package to introduce clients to your system, practices, and insights. Before the DIY package ends, invite participants to work more closely with you.Create a self-study program and then place it on autopilot. This creates an automatic revenue stream for your business with minimal time from you. #smallbusinesssuccess Click To Tweet
Placed on autopilot, a self-study program creates an automatic revenue stream for your accounting practice with minimal time from you. Once in place, this option delivers an ongoing revenue stream.
Don’t overlook your highly engaged clients. Select parts of your various services and mix them together. Include recorded presentations, group sessions, and a select number of private advisory meetings.
For example, my Business Coaching Mastermind clients participate in mastermind group coaching sessions, private coaching sessions, and have access to several of my self-study online programs.
There’s a lot of value in this type of package. I’ve noticed that my clients receive the best results when they combine the mastermind group with private coaching sessions.
The High-End Workshop
Retreats are an option for clients to interact with you in an intensive in-person setting. Not all accounting professionals are comfortable with this type of training service. An event or retreat, however, builds enthusiasm about your service while delivering great content. The experience offers fantastic results for you and your clients.
Considerations for your retreat:
- Investment. Either retreats are included in the package or you charge an additional fee for them.
- Attendees. Decide whether this is a private clients-only event or if enrollment is open to the public.
- Travel expenses.
- Out of pocket. Participants pay for their travel and hotel expenses.
- Inclusive. Hotel expenses are included in the registration fees.
- All expenses paid. Your business picks up all the travel expenses.
Because retreats are an immersion experience, you develop a following of highly dedicated clients. Ideal clients who love what you do will spread the word about your accounting services.
Ingenuity and Preparation are Keys to Packaged Business Services
Packaging your services is a highly effective part of your business model.
This business model allows you to share your expertise with a greater number of clients. Watch as it boosts your bottom line, creates loyal clients, and increases your self-worth.
The accounting professionals in my Business Coaching Mastermind design the bold steps to increase their income while lightening their workload. Experience a mixed package for yourself and then reap the benefits for your practice.
Follow these recommendations to grow your revenues without feeling like a slave to your accounting practice. Discover how to separate your fees from time and no longer sacrifice other parts of your life. Right NOW claim your FREE RESOURCE to earn more without working additional hours.