Use the 1-3-12 method to balance your scope and pricing first

The most important thing to do when starting is to get your scope and pricing in balance. This refers to maximizing the value of your current client relationships before moving on to adding new services.

Using the 1-3-12 rule, you can review your pricing structure as follows:

• Every 1 month: Review payroll pricing

• Every 3 months: Review bookkeeping fees

• Every 12 months: Review everything else

Make sure you’re getting paid for the work you’re already doing—a critical foundation for becoming a more profitable accounting firm.

3. A common reason why clients really say no: Lack of trust in the outcome

People need certainty. They trust a process when they know what they’re expecting, even when they know it isn’t a great client experience.

According to James, people would much rather stay with a poor experience than change accountants and risk being uncertain—all because you haven’t given them faith and certainty in the outcome.

Be clear about what you can do for them and what value you can bring to them. You’re not selling accountancy services, you’re selling certainty.

The moment they know exactly what to expect, you will find that barriers and excuses such as “I don’t have the money for XYZ services” will melt away.

4. The fear of rejection will always be there

The fear of rejection is inescapable, but you can reframe it when selling your accounting services.

By being analytical about an outcome, you’re more able to see the positives and negatives associated with locking a deal.

For example, there are two outcomes when selling to a large company:

1. They say yes—this doesn’t magically solve your problems. In fact, it creates more work.

2. They say no—you now have more opportunities to serve your existing clients, develop your business, achieve a better work-life balance, etc.

Each deal should be valued on its own merits. Ask yourself:

• What does a ‘yes’ mean for you, your firm, and your team?

• What does a ‘no’ mean for you, your firm, and your team?

Remember, you can’t rid the feeling of rejection. But you can help it by not getting personally attached to an outcome.

5. The harm in discounting your accounting services

Inevitably, current clients and prospects will ask for a discount.

James explained that at this point, they’ve already made the decision to sign with you and they’re simply looking for savings where they can.

But the moment you give them a discount, they will wonder how much more they can save next time or on other services.

On top of that, they’ll then question why you tried to sell at one price initially, but were eventually happy with a lower price.

And from that moment, you’ve eroded the trust in your relationship and they will question everything you do.

Find the right mindset to sell your accounting services

Whether it’s managing your fear of rejection or learning how to set client expectations from the start, taking steps to shift your mindset is critical in reevaluating your accounting practice’s pricing model.

You can watch the webinar recording with James and Ian below to benefit from the full experience.