How often do you hear you must ‘add value’ to clients to survive these days?
But what exactly is value? How can it be added? And what benefits does it bring you?
Mark Wickersham is a leading advisor to accountants in the UK. Before you think, ‘not another coach or guru’, Mark is a Chartered Accountant who built and sold his own firm. So he knows what really works rather than what sounds good in theory. In this video he discusses several ways you can add value to your clients. And he explains the two main reasons for doing this:
- You differentiate yourself from other firms. That means you stand out from the crowd and will attract more clients
- If you are different and genuinely add value, you can charge higher fees
So in a nutshell, you can win more clients and charge them more.
The very first way to add value that Mark discusses is helping clients with cash flow planning. As the saying goes, ‘Turnover is vanity, profit is sanity but cash is king’. Anything you can do to help your clients manage cash better in their business is a winner.
Some clients understand and value the reports you create for them. But many either don’t understand or aren’t interested – even though they should be. But every business is interested in cash.
If you’d like to give your client some cash flow help, download the BizInk Cash Flow Kit. It’s a cash flow guide and planning tool – both really popular with businesses. Normally you would have to be a BizInk client to use this content but you are welcome to download and keep it for free.
And thanks to Mark for creating the video. He’s written a book on how to price your accountancy services for maximum profit which you can download for free.