Package Your Services: Benefits for Your Business and Your Clients
When you shift your focus from selling your time to packages, then you and your business enjoy the benefits. You can package your services in a variety of ways. Some accounting professionals bundle specific services together. Others combine compliance services with advisory sessions into a package.
This business model requires a mindset shift. Instead of scrambling to sell individual hours, you offer value driven services. You, and your clients, benefit from this approach. Time frees up, your business grows, and ultimately, you gain loyal clients.
Fuel Your Accounting Practice
You experience these four specific benefits when you package your services.
1. Improved Cash Flow
Your time is valuable. And, enrolling new clients requires effort. So whether you enroll them into an hourly rate or a package, you exert energy. However, your profit increases when a client signs up for a package instead of an hourly rate service. Plus, clients who invest in a package are less price sensitive than clients who pay for your time.
Do you find tracking time and sending invoices at the end of each month a drag? Well, you delete those tasks when you offer packages. It’s designed for you to receive payment prior to doing any work.
My clients who switch from an hourly rate to packages quickly notice a direct boost to their income. Cash flow improves. Since clients now pay for outcomes, they no longer watch the clock. As a result, your profits boost as efficiency improves. It’s a simple, yet strategic, shift.
2. Better Results for Your Client
Your clients don’t want to buy your time. The true value of your accounting services lie in your know-how. Clients invest in your expertise.
Of course your package includes a specific scope of services. Clients; however, are not interested in the specific tasks you do. Your packages highlight outcomes and benefits.Your clients don’t really want to buy your time. They're interested in getting results. #getpaidwhatyoureworth Click To Tweet
The shift from an hourly rate to value pricing changes what you offer. Practice ways to clearly communicate your value. Many accounting professionals find this challenging.
Carve out time on your calendar to figure out your value. Get out your yellow legal pad or excel sheet. Write a list of how your clients benefit from your services.
3. Invested Clients Follow Through
Price sensitive, by-the-hour clients may listen. But they postpone action for another time… or never get around to follow through with your recommendations. Even after they spend an hour or two with you, they continue to stumble along because they avoid taking the first action step.
Clients who sign up for a package invest money and time to achieve a specific solution. They get better results due to ongoing support from your service. With your focus on the financials, they experience greater success.
An hourly rate sets your service up as an expense instead of an investment. Package clients, on the other hand, invest in their business when they choose to work with you. They respect your insights.
4. Package Clients Experience Results
Clients who sign up for a package are investing in themselves, not in you. They believe your service will help them get what they want. Clients with skin in the game are more committed. So they pay attention, follow the outlined steps, and enjoy the results.Clients who sign up for a package are investing in themselves, not in you. #getpaidwhatyoureworth Click To Tweet
Clarify Your Package
Potential clients want to know if you possess the skill set and expertise to deliver on your promises. Give them an overview of the steps involved once you begin working together. Outline what to expect as you work together.
- Teach them to be a great client. Once they’ve invested in your package, teach them how to be a great client. Define the level of commitment you expect from them. Share your expectations regarding communication, access to financials, and scope of services.
- Time commitment. We live in a world of immediacy. Package your services to optimize your time and offer exceptional value. Getting a result faster actually has greater value for your client than a long drawn out process.
- Tell them how it works. Define the scope of your package and how each step moves them closer to their desired results. Outlining specific steps lets them know you have a process. A well-defined process reinforces your expertise.
- Terms of engagement. Your time is precious. Set boundaries at the start of your relationship. Inform them of your policies regarding availability, cancellations or response time. Don’t allow your business to over-take your personal life. This means you are not available 24/7. If they expect otherwise, they may not be a good fit for your accounting services.
- Tame scope creep. Package your services so there’s clarity about what’s included and what’s not included. This reduces scope creep. Unexpected things arise all the time. Don’t give away too much. If something isn’t part of your package, then set time aside to discuss the details and fees for out of scope services.
Bonuses and Additional Add-Ons
First package your services. Then consider what bonuses would increase the value of their investment. The best bonuses compliment the package.
- Training to understand balance sheets and P&L’s.
- How to videos they can access on their own.
- An industry specific report offering additional insights.
Your most popular package solves the primary problem which your clients experience, but don’t stop there. Create additional packages which will further their work with you and your business.
Stand Out From Your Competitors
Why compete when you can stand apart? Package your services to separate yourself from other accounting professionals. No more hourly rates.Why compete when you can stand apart? Read full post. #getpaidwhatyoureworth Click To Tweet
Your package not only details the results to expect when working with you, it also outlines the steps. When you confidently explain the process, clients feel reassured about your value. With this advanced move, you no longer need to compete for business.
How Price Coaching Speeds Up Results
You may wonder what to include in your package. If you find yourself unsure about how you’ll lead clients through the service, don’t over-think this.
Packaging your services is an advanced move. Are you tired of doing work for free because you don’t know how to charge for it? Discover how to package your services and attract clients who happily pay your fees. Right NOW claim your FREE RESOURCE to increase your income while lightening your workload.