Feb 1, 2019
Do you have any long-term clients who you undercharge in fees,
and you worry that they’re going to leave you if you raise their
rates?
If you answered YES, then this week’s The Abundant Accountant
Podcast is a MUST LISTEN! Marc Schnoll joins the show to share how
he learned the importance of owning your worth and charging
adequately for it.
Marc started his firm about 14 years ago and has had a long-term
client since the beginning. As the years have passed, the amount of
work that Marc and his firm have done for this client has increased
dramatically, but the monthly rate they charge has not.
There were countless hours of email messages and phone calls
that were going uncharged. These messages and calls weren’t being
tracked and, because Marc was afraid to lose the client, he didn’t
want to raise his rates for quite some time.
However, after a lot of thought, doing a 90-day analysis was a
necessary next step. Marc realized that it was time to raise his
rates NOW!
The information he found by doing this analysis opened his eyes
to how much value he was providing and how badly he was
undercharging.
If you’re tired of being underpaid, and you’re ready to own your
value, then this episode of The Abundant Accountant Podcast is a
MUST LISTEN!
Enjoy, and thank you for listening and tuning into The Abundant
Accountant Podcast!
To share your thoughts:
To help the show out:
Special thanks go out to Marc for taking the time to chat with
Michelle. Be sure to join us on the 1st or 15th of each month for
our next new episode!
P.S. Are you tired of feeling like you have to give away your
knowledge and expertise for free? Register NOW for my FREE Accountant Masterclass
and learn my 3 proven strategies to establish a systematic,
efficient process that quickly qualifies your leads and turns them
into high paying clients that guarantees you a consistent and
growing stream of revenue all year round. Get FREE access NOW at
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Here are a few key secrets we talked about in this episode:
- Michelle introduces Marc Shnoll.
- Marc shares a little about who he is and where his firm is
located.
- After working with a client for 15 years, Marc realized that
his firm was undercharging for the amount of work they were doing
for this client on a daily basis.
- Marc was receiving approximately about $4,500 a month for his
work, but the work was worth seven or 8 times that.
- Marc would often check his email first thing in the morning and
he’d have a series of emails from this same client. We’re talking
about 300 emails over a 90 day period.
- The firm also had an entire staff person dedicate about half of
their work time to this client.
- After a 90 day evaluation, Marc realized they needed to
increase this client’s rates – listen to THIS episode to hear how
much they increased it and the result.
- If you’re ready to start analyzing what your clients are paying
you, so you can start asking for what you’re worth, Marc suggests
some things you should review to determine your price.
- When raising rates, you must consider whether or not there is a
better or less expensive option for clients, because they may make
the choice to leave. You have to be ready for this.
- After 15 years Marc’s client decided to leave, but it actually
was a good thing. Marc shares why, in THIS episode!
- By analyzing the work and the amount of money he was being paid
from his long-term client, Marc realized that he was undercharging
across the board. Marc raised his rates 10 to 15 percent, and will
likely raise his rates again next year.
- Doing all of this work, raising rates, and analyzing the work
they were doing for clients, helped Marc raise his confidence
levels. Especially when dealing with clients, which meant he was
better able to believe in his worth and ask for what he was
worth.
- Marc’s final piece of advice was to have the confidence and
know you’re worth it.
Learn More & Connect With Me Here!
- P.S. Are you tired of feeling like you have to give away your
knowledge and expertise for free? Register NOW for my FREE Accountant Masterclass
and learn to implement my 3 proven strategies for your accounting
practice to stand head and shoulders above your competition and
offer superior value and unmatchable service to easily build your
practice with premium clients who eagerly pay you what you’re
worth. Get FREE access NOW at abundantaccountant.com