Value Yourself So Clients Value Your Work
Your income is closely tied to your self-worth. So when you undervalue your services, you experience cash flow problems in your accounting firm.
Although it’s under the radar, you constantly give clues to others. You may want to attract high value clients. But, instead you end up with price sensitive clients or clients who don’t respect you.
Which of these apply:
- You postpone increasing your rates although you could use the money.
- You don’t like asking clients to sign on with your accounting services during consults.
- Discussing your fees is uncomfortable.
- Constantly comparing yourself to other accounting professionals creates frustration and envy.
These are clues that deep in your heart you don’t value yourself. It’s difficult for your clients to recognize your value when you undervalue yourself or feel like a fake.
Change is possible. That’s because our minds have plasticity. You can replace an old pattern with a new one that’s better suited for you and your accounting practice.
Imagine showing up at the table where every conversation is a value conversation. Instead of pitching your services, you find out more about the other person. This one change causes potential clients to view your services as an investment instead of a cost.
Finally stop undervaluing yourself
When you really think about it, you are in competition with yourself. Accounting professionals often believe competitors who charge less are your competition, but that is not the case. Plenty of accounting professionals charge higher fees. Those firms aren’t interested in attracting price sensitive clients.
Undercharging is a downward spiral. It creates scarcity. You can only last so long before you close the doors to your firm.
It’s difficult to make ends meet when you’re in a low-fee pricing war. This approach cuts into your free time, adds stress and eventually leads to burn out. It’s not sustainable. Eventually, it takes a toll on your health and well-being.
Competing on price attracts non-ideal clients who are price sensitive. Clients who work with you because of your low rates do not have any loyalty to your firm. They quickly move on when they discover another accounting firm with lower fees. And, there will always be somebody ready to undercut your rates.
They are not competition. You are your own competition.
Success happens from the inside out. So, the best solution is to build up your self-worth.
Acknowledge Your Knowledge
Change your mindset. Acknowledge the skills you bring to the table.
Here’s how to get started:
- Time in the field. Consider the insights and wisdom you developed over time. Every course, workshop, and training you took adds to your value. Write a list of all the training you have done. You’ll surprise yourself with how much time and energy you’ve invested. Seeing your list with all the time spent learning will boost your confidence. Yes, you do have skills that most people don’t possess.
- Monetary investment. Let’s take this one step further. How much money did you invest to learn those skills? You’re not an imposter. Your clients benefit from your knowledge. You deserve to reap the rewards of your specific knowledge.
- Your skill set. List all the skills you offer your clients. Take some time as you work through this process. Don’t overlook the things you take for granted because they’re easy and you believe anyone can do those. Those things are usually the most valuable to your clients.
- Problem solving. Now make a list of the benefits a client receives when they work with you. Once again, list the many ways you help your accounting and bookkeeping clients. Every benefit is a testament to your value and a reason for new clients to work with you. Paste that list of benefits where you can see it often.
Communicate Your Value
As your self-worth grows, things begin to shift upward. You gradually stop positioning your services as a commodity where you compete on price. Instead you emphasize the value your clients enjoy as you become their go-to solution. Position yourself as a problem solver to become invaluable to your clients.
Here’s an advanced move I teach my clients. Don’t discuss your rates too soon during a consult. You have to earn the right to discuss your services.
Set up your consult so a potential client recognizes the value you offer. Then they’ll want to know how to work with you. Here’s where you share how they benefit from your services. Now, you may not memorize your benefits. That’s okay. Keep your benefit list in front of you.
You don’t want to overwhelm a potential client with all the benefits you offer. Keep it simple. Solely focus on the exact benefits they need. Remember this business owner reached out to you because she’s interested in what you offer.
Most people are visual. So paint verbal pictures of how each benefit will solve a specific, current problem. If it feels right, then describe how you have helped others who were searching for a similar solution.
Talking about yourself can be uncomfortable because it may feel like you’re bragging. Don’t brag. Instead, educate a potential client about what she can expect from your work.
Set aside time to practice. Then it’ll be easier to discuss those benefits during your next consult.
Knowing your value and comfortably sharing that with a potential client is a game changer. You no longer have to compete on price. That’s because ideal clients will happily pay you for the solutions you offer.
Knowing the value of your #accounting services and comfortably sharing that with a potential client is a game changer. You no longer have to compete on price. Read full post. #getpaidwhatyoureworth Click To Tweet
Experience Business Growth
As your self-worth strengthens your accounting firm becomes more profitable. You stop competing on price. Your rates are now determined by value. What changes would you need to make to alter your pricing strategy?
Value based pricing frees up time. You don’t need as many clients in order to grow a profitable practice. Owning your value leads to client appreciation.
Undervaluing yourself keeps you stuck. Follow these recommendations to work with high value clients who happily pay your fees. Discover how to earn more while lightening your workload. Right NOW claim your FREE RESOURCE to double your income while working half the time.