The only six ways accountants can increase their own profits

Apr 3, 2013 | Pricing

Over the years I addressed this topic many times in training sessions that explained how to make more profits from your smaller clients (without fancy schemes).

It seems that I have yet to include on this blog the opening summary in which I share what seem to me to be the only six ways in which accountants can make more profits from their smaller clients:

You can:

  1. Increase your charges for doing the same work (which often means increasing the perceived value of what you do);
  2. Speed up the collection of your fees (this includes adopting more commercial billing strategies);
  3. Reduce the time you spend doing the work but keep the fees the same;
  4. Provide more services and charge accordingly for these;
  5. Encourage existing (good) clients to introduce new prospects (just like them);
  6. Sack the duff D-list clients who get in the way.

Of course this advice can be adapted to help clients make more profits in their businesses too. But it would be a shame to do this before applying the advice to one’s own practice wouldn’t it?

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