I met recently with one of my students who told me about her immense success. Here’s what she posted in my Facebook Support group:
I just had to interview her!
Lana signed up for my How to Price Bookkeeping course, and after studying value pricing and implementing the new practises throughout her business, there were 3 clients in particular that she managed to get great results from and demonstrate her improvement in pricing.
The first client was an education consultant.
She had a bookkeeper but wasn’t really satisfied with them, so asked Lana to double check everything was in order.
Lana noticed there were a number of accounts that weren’t entered, and several holes in the paperwork needed sorting.
She priced this clean-up work at $2500.
But, the real value pricing achievement came when Lana priced her bookkeeping…
When you have a price conversation with a client, the better you are at communicating your value, the more business you will convert at higher prices.
Recently one of my students asked how to create a pricing brochure for bookkeeping services, so I’m going to share with you how to do that.
Having a professional looking brochure shows that you are professional, you are the expert, you are experienced and have clearly done this before.
When people see you as the expert, they are more likely to want to buy from you because they want to work with the best, and they will be willing to pay a higher price for the privilege of working with the best.
Recently, one of my students has been dropping some frankly amazing success stories into my Facebook Support Group:
The results she is getting are absolutely incredible, so I just had to interview her!
One of the biggest challenges Lana had to face was scope creep.
“Client’s didn’t understand that no, you hired me to do ‘A’, and now you’re asking me to do ‘B’, ‘C’ and ‘D’ as well!”
These clients tended to become difficult and reluctant to pay the bill at the end. This was hard on Lana as she was trying so hard to provide for her family, but clients were refusing to pay her for her work.
The tax season rush was another big issue Lana faced.
Come January, all her clients panicked as the tax year end was approaching, and Lana was struck with a huge influx of enquires and new clients wanting her to bring their...
I recently ran a survey asking 2683 accounting professionals what they charge for their bookkeeping services.
The participants predominantly consisted of accountants both qualified and unqualified, and bookkeepers both certified and non-credentialed.
I wanted to know how they were pricing their bookkeeping services, but also how much they were charging.
One of the questions I asked in the survey was…
“Do you review your prices for every client at least every single year?”
The answer to that should be overwhelmingly YES. We absolutely should be increasing our prices every single year, for 3 key reasons…
Prices change every year, they always go up because of inflation. Your prices should increase every year as well - your clients expect this.
You should also be reviewing your prices because your clients’ circumstances are likely to change. If you’ve been helping them, their business is surely...
A few months back I discovered something that astonished me…
Accounting firms in the US are better at pricing bookkeeping services than those from other countries like Canada, the UK, and in fact the rest of the world.
In my recent study, with 2683 participants, I wanted to find out how accounting professionals are coming up with their prices for bookkeeping services, and exactly how much they are charging.
A mixture of qualified and unqualified accountants and bookkeepers took part in the survey from all over the world.
We analysed the data and then broke it down into different countries to see if the location of a firm had an impact on the way they price. I wanted to know if there was any significant difference in the prices that firms from the US got as opposed to firms from Canada and the UK.
The survey was largely based around 12 different bookkeeping client scenarios. We asked participants to recommend a price...
Accountants and Bookkeepers are always asking me:
“What should I be charging as an hourly rate for bookkeeping?”
I get asked this particularly from bookkeepers who are starting their business journey.
So I decided to find out, definitively what the profession is charging.
I recently created the world’s largest ever study, with 2683 participants, into what people are charging for their bookkeeping services.
980 Qualified and 416 Unqualified Accountants, 468 Certified Bookkeepers and 591 Non-Credentialed Bookkeepers all took part, as well as 208 ‘others’ such as Enrolled Agents. Mainly accountants and bookkeepers.
One of the questions I asked in the survey was:
“If you price based on an hourly rate, what is that hourly rate?”
This graph shows the findings…
Let me just explain how we achieved these numbers.
What we did was we organised all of the 2683 participants responses in ascending order....