3 Steps to a Profitable Partnership

We all know that getting clients is easy.

But getting good clients that make sense to work with – that’s a whole different story. Thankfully, there are three things you can do.

First, check if you’re charging enough for your services.

If you want to reach the level where you make seven figures per partner (profit), you have to keep your margins high.

At least 75% GP and nudging to $500 average hourly rate high.

If you can’t ask for a price that’ll bring you at least that (before subtracting overhead and labor costs), it usually means the client you’re working with is not worth your time and you should end the relationship now.

Why?

It’s simple. We all have 24 hours in a day. Focusing on low-paying clients won’t get you far – and the opportunity cost is just too high.

Plus, considering how demanding low-paying clients are, for every low-quality relationship you lose at least one or two premium clients, what slows down your growth.

Ok, so now that you know why you should ditch unprofitable clients, let’s jump to the second step.

Setting up the rules.

Remember – good clients accept to play by your rules.

You see, while profit is important,you shouldn’t sacrifice your integrity for it. You don’t need to carry out your clients’ every whim.

That’s why you need to establish a healthy set of rules. What kind of? There’s nothing ground-breaking about them. Get paid on time and ensure that the client has to adhere to your workflow.

Once you have them, we’re down to one last thing.

Ask yourself – do you like that client?

No amount of money is worth it if you dread the work you’re doing and hate every minute of it.

On the other hand, if you enjoy working with the client – now the work doesn’t even feel like working. And you still get paid for it!

Of course, you don’t always click from the moment you meet – but, that’s why you want to establish the rules and act professionally. And expect the same from your client.

Sounds fair, doesn’t it?

PS. Whenever you're ready here are 3 ways I can help you achieve the results you deserve.

1. Download my latest ebook - The Naked Truth - and learn about the real financial performance of 32 Accounting firms. What they used to look like and what they now look like. Also a lot of detail on how they are achieving their results. Go to www.robnixon.com to download. 

2. While you're on my website go to the BLOG and feast on dozens of articles and other content. https://robnixon.com/blog/

3. If you want me to work with you privately and coach you and your firm to success then let's start a dialogue. Send me a private message here on LinkedIn, tell me a bit about your firm and what you're looking to achieve. Ideally you're between $500K and $5M in revenue now. Message when you're ready