Sky's the limit
In one of my previous articles, I told you a bit about choosing the right client.
The one who can afford your services.
The problem with that approach is, there are many accountants would still never hit the >$1M profit per partner level – no matter the size of the clients that they decide to work with. And if they do they typically work very big hours. Why?
They undercharge for their services. They ask for WAY LESS than they deserve.
And yet, they’re very smart people – and their knowledge often saves the businesses that they work with thousands upon thousands of dollars.
This often comes down to their marketing. They can’t convey the value that they’re going to provide to the client. Many of them don’t know how to advertise and sell their services. Not to mention finding their niche and unique value proposition!
However, if you don’t take proper care about your marketing, you risk a lot. If you’re just another number cruncher whom the client could replace if they needed to, why should they even pay you whatever you ask?
On the other hand, if you do your homework and position your services right – and learn to show your customer the value that you bring to their business… they’ll be happy to hand you the payment.
They’ll know their business is in good hands.
In fact, taking care of your marketing together with offering quality services that provide real value is the key to growing your business.
Of course, the change will take time – but there’s a lot you can achieve in a year if you’re willing to work for it.
Take a look at the numbers of one of my clients – an accounting firm from Utah.
The below were their numbers when they started working with me:
- Average hourly rate across the entire team - $54
- Average hourly rate for client hours - $94
- Annual revenue - $1,679,000
However, in the last 12 months, we’ve been working to these numbers:
- Average hourly rate across the entire team - $130 – the benchmark set at over $250
- Average hourly rate for client hours - $225 – the benchmark set at over $500
- Annual revenue – $3,820,050
An increase of over $2,000,000. And we’re still far from hitting the hourly rate benchmark.
There’s a HUGE room for growth here.
Of course, even the targeted hourly rates are already much higher than the industry average.
But that’s what you get if you bring the value to the table.
Speaking of which – if you believe that I could bring value to your business and I feel that you’re the right fit – well, let’s talk.
To find that out, complete this short application form:
https://robnixon.com/masterform/
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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