How much do you charge? 25 great answers.

One of the questions Accountants don’t like hearing, when approached by a prospective new client, is “How much do you charge?”

All too often the question is asked, too early, out of context, and before anyone has established exactly what accountancy and related services you will be providing. And yet, if you blow the answer, your prospect is gone.

Keep in mind that many people have no idea how else to start a conversation with an accountant other than asking about fees. It doesn’t always mean this is all they care about and that they simply want to find the cheapest accountant around.

Too often we worry about how to transition from one question to another, or we remember the childhood rule that when someone asks you a question, you have to answer it. This is not a rule for adults in business.

Here are the first 10 from my list of 25 great answers to the question: How much do you charge? The full list was inspired and adapted from a list of 17 answers provided by David Newman of Do It! Marketing who works with executives and entrepreneurs who want to speak more profitably. 

1. I’d love to answer that but I can’t yet because I don’t know exactly what help and support you need. Can I just check some things with you first and then I’ll be able to quote you a fee.
2. I’ll answer your question in a moment but to give you a more accurate answer, may I ask you three questions first?
3. It depends on exactly what you need. I have learned not to assume that every client wants or needs exactly the same services. Let’s run through a few things that experience has taught me I need to clarify before I can quote a fair fee.
4. Well, the friends and family rate might apply but we’re not friends yet – do you mind if I ask you a few friendly questions that will help me understand exactly what you need, before I determine what the fee will be?
5. It could be over a million until I know exactly what services you need. Can we spend a few minutes narrowing things down to help us get down to a more realistic figure?
6. I have good news and I have bad news. The good news is that you don’t have a half million pound problem. The bad news is that you don’t have a ￡10,000 problem, either… If you can help me answer some key questions, we’ll both know a lot more about what your investment might look like.
7. Unlike some other accountants I don’t charge standard fees as my clients receive a personalised service. And that means a personalised fee too. Let’s see what you really need and then you can decide if you can afford me.
8. If it works, it’s cheap. If it doesn’t, it’s expensive. What’s it worth to you?
9. Tell you what. Let me check a few points with you and then I’ll be able to give you a rough idea – a range of fees. If that’s ok we can then check some more details so that I can give you a specific quote.
10. Let’s talk about what you’re trying to accomplish first and then we can get to what you’ll need to invest to get what you want.

The full list of 25 great answers to the 'How much?' question is on my blog here >>>

NB: My blog post was inspired by and includes much original content adapted for accountants but drawn from David Newman's 'Do it' marketing blog post setting out 17 great answers to the question how much do you charge? >>>>

Clearly the next part of the conversation is also crucial, as is the way you present your fee, any caveats and conditions you want to apply, your payment terms, and your fee review process.

These are topics we regularly address during the Sole Practitioner Breakthrough webinar Programme and at round table meetings in London with The Inner Circle for Accountants. These topics are also addressed in the Successful Practice email Programme and often come up during 1-2-1 mentoring sessions.

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Mark Lee FCA is strangely attracted to helping sole practitioner accountants secure more reward for their efforts. His services are focused and designed to help these accountants become more successful whether that means more clients, more profits, more time or simply more satisfaction. More here >>>