How to Transform Your Clients' Profits

price consulting Nov 20, 2019

I caught up with Reza Hooda, an incredible accountant who is doing some crazy things with his clients’ lives.

 He shared with me some of the key ways he helps clients to get the maximum value from his services. 

I strongly recommend you watch the whole 30 minute interview to learn all about Reza’s success and how you can achieve the same thing. 

You can watch the video here.

We have to start doing more for our clients 

We have to make sure that whatever changes may happen as the industry evolves, we are always providing the utmost value to our clients.

It feels like accountants have become lazy over the past 20-30 years because we have had a steady stream of clients, recurring revenue, churning out accounts every year and not having to do much else.

Now the industry is changing.

We actually have to step up and do what we were trained to do. We have these skills, professional training and experience in dealing with businesses on a daily basis. 

We know so much and it’s only fair that we communicate that knowledge to help our clients as much as possible.

How to help clients increase their profits? 

You can’t directly manage profit, so you have to focus on the drivers of profit.

The price driver, for example. As accountants we are good with numbers, so we can help increase the price to have an instant and significant impact on the bottom line. 

Clients are scared of increasing price in case they lose customers. But we can model what the impact is of increasing prices and losing a percentage of customers, so that the client can see the staggering effect it will actually have on their profits.

The Power Pricing software has been invaluable too. You can sit in front of clients and easily go through the numbers with them.

How do you attract new clients?

If you tell someone “I’m a Price Consultant” they usually get a blank look on their face.

So, Reza created a lead page and marketed it through social media.  This helped to spread the word about his services.

He also has a brochure that is helpful in displaying all of his services in a neat package.

We need to be constantly thinking “how can we add value” and clients will come to appreciate the value of your work.

The gift voucher concept also worked wonders. He attended an event with NatWest bank as a speaker and every attendee was given a voucher that gave them a complimentary profit diagnostic review meeting worth £500.

These are the prime new clientele he has lined up that were brought in using the knowledge he gained through the Price Consulting course.

And this is only shortly after joining the course. There is so much more to learn and it’s already made such a huge impact.

If you are interested in signing up for the Price Consulting course mentioned by Reza you can attend the upcoming free webinar. You can register for that here and use the dropdown menu to choose a date. 

Wishing you every success on your pricing journey

Mark Wickersham

Chartered Accountant, Public Speaker and Amazon #1 Best Seller of “Effective Pricing for Accountants”

 

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