Nowadays, more and more employees are having to work remotely. COVID aside, employees now don’t need to waste time commuting and can use their time during the day better. Companies all around the world have seen this trend and many of them hop on it.
And the offshore world is no different.
Efficiency is the key to increasing your profits. If you want to scale and onboard new clients – you need to optimize your workflows.
Great teams are those that trust their leaders.
One great way to build trust is becoming fully-transparent about your company’s metrics.
Do you disclose your company’s cash flow or profit with your employees?
Here’s a common belief that I see many accounting firm owners share:
They think their services are too specific to waste time on marketing. They look at what others are doing and believe there’s just no way marketing could work for them.
I’m not a big fan of hourly pricing. I believe it prevents companies from growing and hurts the accountant and the client.
Instead, I encourage accountants to introduce value pricing. Why?
I told you about the importance of phone calls – and why you should NEVER charge for one.
Of course, while you can’t avoid phone calls from your clients, you can’t spend hours on the phone either. But, how to avoid excess communication and still show your customers that you care?
A-class clients are the backbone of highly successful accounting firms.
To offer them the level of service they expect, you need to decrease inefficiencies in your firm. Most of the time, you can achieve that by tightening your processes.
I want to talk about stuff that’s CRITICAL if you want to keep growing your business.
Lead generation.
Because you have a lead generation strategy, right?
Don’t worry – if you chuckled or are wondering what you just read, you are not alone. Many accounting firms don’t pay much attention to the active lead generation.
New clients just magically appear, right?
I wanted to talk about your business model – and the money that you charge for your services.
If you’re a “standard” accounting firm, I bet your business model can be broken into the following steps:
– Complete a service
– Charge for the hours that you’ve worked
If yes, then it’s likely that you’ve trapped yourself in a transactional relationship.
Many of my clients when they first came to me, found themselves with, what they thought was, maximized hourly rates.
No matter how many extra services they added, they thought they just couldn’t justify increasing the amount that they charged for every hour of their time.
Not to mention that often, they spent more hours doing the work than they would charge their clients for!