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A big, often overlooked skill needed of business owners is the ability to let go. This takes many forms, such as knowing when to let go of clients, or let go of staff, but what about letting go of your workload? Often, if there’s a specific service you’ve positioned yourself as the expert in, or a client has an issue you know you’re best experience…
 
When I was a business consultant I worked with a skip broker company, who would provide a wrap-around removal service, but weren’t getting sales because customers would ring up and ask the price and because they thought they only wanted the cheapest skip, the call would end there. But when I looked at their range of services, it was obvious they ha…
 
You only need one thing to combat the fear of repricing clients in your Accountancy business. Before you go into a fee review meeting with a client, where you know you’ve got to increase their fee, before you come up with a whole plethora of excuses, all you need is need self-awareness. Self-awareness is so, so important. You’re afraid of having th…
 
Discussing the importance of giving back and how your Accountancy firm can make an impact. Imagine if, every time a new client signed the proposal, a set of clean pyjamas was automatically sent to a child in emergency care? Then, that new client got an email to let them know about the impact they just made, all because of your firm. and THEN.. Your…
 
Present your prospects with ONE solution It can be tempting to offer more than one option to your clients and prospects, maybe with different tiered prices and services. Initially it might seem like the best way to bring them on board, we might think, using some sort of sales psychology, they’d go for the ‘mid-range’ fee or the ‘silver’ package. Bu…
 
Don’t just raise your prices across the board It might seem like a great idea initially. Raise all of your clients fees by 30% and THEN you’ll be making a profit. Right? This would be the case, if all of your clients were the same. But fact is, they aren’t. When you’re repricing clients, they should be split into three distinct sections: Profitable…
 
T here are other MARGINS that exist in your accounting business, other than PROFIT margins. These margins remain largely invisible but decision by decision, they get squeezed, taking you closer to the edge. You then only need something like the Corona Virus to push you up to, or over the edge. Now hindsight is a wonderful thing, but as we rebuild a…
 
Igot a very emotional phone call from a business owner this week. She was totally overwhelmed with everything that’s going on, couldn’t see a way through. Her revenue had taken a 40% hit and she was about to make a series of decisions based on this bleak perspective and from a position of fear. She was at rock bottom, a level 0, and within 24 hours…
 
Even if you’re one of the few firms which has figured out how to correctly charge your clients in the first place, the complexity of the services you provide and the constantly changing nature of your client’s businesses, means that the scope of work can quickly become out of alignment with what they’re paying you. So unless you have a system which…
 
This one idea has helped us to understand a lot of frustrations we were experiencing in our accounting firm towards the end of last year. Initially, I just couldn’t figure out what the problem was. We had more staff, they were better trained and demonstrating great values. We had better processes and systems, powered by better technology. We were a…
 
So, you've just increased your prices, you've now had a few client meetings, and perhaps they've not gone as well as you'd hoped. The client's not jumping for joy, they're saying you're too expensive, or you're charging more than my previous accountant or they didn't expect to be paying that much and perhaps you've not had them signing your proposa…
 
Pricing Tax Returns is a real challenge. If you have a fix fee, those clients who have more complicated affairs are getting it cheaper.And those who have simpler affairs are being overpriced and may eventually leave. So you’re left with clients who you’re doing too much work for.Meades & Co. discovered a far better method for pricing Tax Returns th…
 
‘Person first, client second’ is the one core principle we have at My Accountancy Place, which enables us to serve our clients to a much higher level, give them far more value and which has contributed towards growing our monthly recurring revenue by 50% in the last nine months alone.Not only that, when you fully embrace this philosophy, it enables…
 
There’s a phenomenon that has lead accountants and bookkeepers to thinking that they should give their clients 3 options to choose from, when selling to them. This approach causes many problems and can’t work effectively for one good reason.The reason I really wanted to share this with you is that I believe there is so much bad advice out there abo…
 
There’s a downward spiral that accountants can easily fall into, that zaps all of their energy and time. This spiral then prevents them from investing their time and energy into the clients that they’d love to be able to serve to a higher levelBUT….. the reason that they’re unable to break free from this spiral is the very fact that they are an acc…
 
I get to meet so many accountants whose goal is to provide the most value they can to their clients, but the one question they always ask me is… how can we make life easier and get paid more for the hard work we do?So I’ve put together my 7 Step BattlePlan that solves this problem once and for all.It will help you to get rid of the time wasters, ch…
 
There are 7 fundamental mistakes that accountancy firms make when they attempt to systemise, that lead to them being exposed to the 3 vulnerabilities.These mistakes are…They systemise like a firefighterThey don’t use automationThey have too many cracks in the systemsThe process was broken in the first place (this is the killer)You were never told t…
 
There are 3 major vulnerabilities that accountancy firms around the world expose themselves to. And these 3 vulnerabilities cause nearly every problem within your firm and are the reason why you feel overwhelmed and overworked.In this podcast I outline what those 3 vulnerabilities are, the real problems they create and how to avoid exposing your fi…
 
I met with a firm of accountants who had a real issue with regards their pricing. They had several proposals out and none of the prospects were signing them, and they didn’t feel confident that those prospects were ever going to sign those proposals either.And when I asked them how they’d arrived at the pricing that they had sent out, they said the…
 
There are five levels of accountancy firms. Most accountants are aware of the first three levels, but not a lot of them have been told about the highest two levels that you can actually take your accountancy firm to.What I want to do, is talk you through each of the five levels, explain what the characteristics are of each of them, how you transiti…
 
“I didn’t feel like I got much done today” is a common phrase that business owners in particular say at the end of the day. EVEN THOUGH you planned out your time. EVEN THOUGH you worked on the right things. So why DIDN’T you get much done? Let me tell you a story!!!I can explain exactly why you felt that and why in fact you didn’t get as much done …
 
Let me tell you how I sold the Tesco delivery driver on a cup of coffee. Now I didn’t literally SELL him a coffee, but I sold him on the IDEA of having a coffee. Because look, you’re always selling.Whether you’re selling a customer on a new service, or a member of staff on a new procedure or your kids on what time they’re going to bed.You are eithe…
 
Everybody knows that people buy from people, but what do you do in your business to reinforce this idea? This week I experienced a fantastic Starbucks Barista who used this one technique to breakdown the corporate facade and talk to me as a person. The result was me buying a piece of cake to go with my coffee when I would have ordinarily said no.…
 
We all hit snooze when our alarm goes off. Sometimes we hit it twice or three times or until, like me, your partner boots you out of bed. But does it matter? Does that small decision really impact our lives?Small actions we take or don’t take, when compounded, actually add up. Does it matter if you make that sales call today? Does it matter if you …
 
Knowing what to say is one thing, but the tone in which we say it is another thing entirely. It is said that what we say, the actual words, only communicates about 7% of what we mean. However, the tone in which we say it accounts for 38% of what we mean. Do you know what tone of voice your staff use? Do you know how much their tone of voice is cost…
 
Tony Robbins taught me that in business (and life) you will have experienced the phenomenon of BREAKING POINTS time and time again. You will certainly encounter them again in the future & you may even be experiencing them now. Knowing what they are, how to break through them and what’s on the other side, gives you a massive advantage.I first experi…
 
It is so easy to become distracted when you’re in business for yourself. There are people who want to waste your time, tasks which seem important but aren’t and just the massive amounts of crap you’ve got to deal with every day. Staying focused on what’s important is a huge challenge, which is why I’ve developed the Battleplan of Battleplans to kee…
 
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