Reza Hooda FCA CTA’s Post

I found this out the painful way: 🗣️ People who join on price, leave on price. When I started my firm I would: 1. Ask prospects for their last set of accounts 2. Scroll to the back to see how much they were currently paying 3. Pitch my fee slightly under 🤷 And it worked. I signed clients. The problem is - other accountants did the same thing. So like clockwork, every year or two, they would leave for another accountant. People who join you on price; leave you on price. Good clients are not price sensitive - they’re value sensitive. Price is only an issue in the absence of value 🙌 Want to know how you can communicate value so price is not an issue? It’s all in my book - link in profile to get a free copy 😉 Reza Hooda FCA CTA

Bookkeepers are truly the unsung heroes of the business world, quietly ensuring that figures are aligned and ledgers balanced. However, for far too long we have seen bookkeepers charging on a time and input basis rather than on a value add, output basis. It's amazing to see a recent shift in this paradigm, with people like Zoe Whitman and Jo Wood leading the charge, where bookkeepers are declaring their value, independent of the ticking clock. But how can you make a leap to value-led pricing with confidence? Here are Kayleigh's tips: https://bit.ly/4415i3L

Why Transparent and Fair pricing is BAD! ❌ 1. It costs a lot of time and effort to get right 2. You can’t use gut feel to choose a price you think your prospect will accept 3. £250/£300 a month for every client is about right anyway isn’t it? 🤥 Why Transparent and Fair pricing is GOOD! ✅ 1. Clarity and trust from the outset! 2. Price is based upon the exact, agreed upon, level of service each business requires 3. Confidence in service delivery due to adequate planning and resource allocation 🤝 Consequences of not working with the an accountant that prices transparently👇 1. “Unhappiness occurs when you get less than you expect” - Without being clear at the outset, someone loses out at some point. 2. Accountants who choose not to be crystal clear at the start, do this through fear of not signing new clients, so they under price, sign client’s cheap, and then under-service them! 👎 In all areas of business, clarity and trust are key to building lasting relationships. At The Accounting Room we’re proud to be certified as Transparent and Fair, something which will always be at the core of everything we do! ☑️ #TransparentPricing #LongTermSuccess #FairValue #UKBusiness #TrustworthyAccountant #accountingroom

Why do professional bookkeepers charge upfront? 1. Stability - you know your costs each month, and can plan without surprises. 2. Less Peaks & Troughs - EOFY and BAS costs are spread across the year. 3. Priority Service - we are committed to delivering what was promised. 4. No Hold Ups - we're not stopping work to wait for last months invoice. 5. Peace of Mind - no more awkward money conversations.

When you hire your accountant or CPA, make sure you hire one who can fit your needs. Not all professionals are made equal! Ask yourself: • Do I need the services they provide? • Do they provide enough of what I need? • Do I understand my accountant’s role for my business? • Does my accountant communicate with me, or do we only speak at tax time? • Has my accountant provided value to my business that I would not have been able to or would not have wanted to do on my own? Consultations are important to help answer some of these questions up front! For questions you need answered about your specific financial situation, text “Consultation” to (678) 201.0353 or book online! www.ShavonTheTaxTailor.com

It's the end of the month again! Here are some jobs you should be doing each month to keep your accounts in shape. If you'd like some advice on what more you could be doing and how your business will thank you for it then book a call with me to talk things through.

Not only does the billable hour reduce income; it overlooks knowledge. Tracking time fails to recognize your hard work and dedication. In value pricing, your price is based on the value you generate for your clients. The time necessary to get a result is separate from your fees. #firmowners #womeninfinance #taxandaccounting #accountingandaccountants

Drop the 'neediness' Keep leads flowing and watch confidence replace desperation. Experience the rise in your closing success as your sales pressure falls. __ If you’re trying to level up your accounting firm, I’ll show you how @petervndr __ #scaleyourbusiness #marketingcoach #brandgrowth #petervdr #salespressure #increasleads #stopbeingneedy

An accountant's favorite key on the keyboard is the one with the dollar sign!💻💲 #AccountingHumor #FinanceFun #BusinessLaughs #NumberCrunching #WorkSmiles #FinanceProfessionals #AccountingLife #FinancialFunnies

Michael won a fee of £51,500 for his #accounting firm Despite only have been in business < 2 years There is a misconception that you need to have been in business for years to win those kind of fees. That you need an office and a huge team and a big marketing budget. But Michael (solo practitioner) is proof that you don’t. But here’s what you do need (and what Michael did to get in that position) 1. Choose a niche - despite reservations at the start and worries about not winning enough clients, Michael won better and higher paying clients by deciding to niche from the off. 2. Communicate your value - Michael learned the importance of communicating value and comparing his offering to having access to your own finance team (so he’s not compared to the last accountant) 3. Have a pricing system - when the enquiry came in, Michael was able to confidently present a fixed price based on the client’s circumstances, complexity and preferences. 4. Believe in your worth - by joining a community of other accountants and seeing the success of others, Michael believed it was possible for him to do the same despite his imposter syndrome suggesting otherwise. You too can get better clients paying those kind of fees. Moral of story? Be like Michael.