It's Nothing To Do With You!

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I see this all the time for bookkeepers. They want to charge 'the market rate', or what others in their area are charging.  Let's just get this out there right away.

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I see this all the time for bookkeepers. They want to charge 'the market rate', or what others in their area are charging.  Let's just get this out there right away.

What others charge is nothing to do with you!

There, I've said it.  We can't, and shouldn't, compare our prices to others.  Let me explain why.  Firstly, we're not a commodity.  We're not a lump of coal or a bit of gold.  One bookkeeper is not the same as another.  Whether it's training, experience, expertise in a particular field, technology, or even systems, we're all different.  We can't easily be compared, and we would never want a client to anyway.

Here's the second reason.  It's probably even more important.  We don't all have the same cost base or profit margins.  I've seen loads of bookkeepers over the years who work their fingers to the bones but never make any money.  Sure, they charge a really competitive rate but that doesn't matter when the business really isn't viable.

So the next time you think about comparing your prices to another bookkeeper stop and say to yourself "What others charge is nothing to do with me!"  Instead of spending your time worrying about other bookkeepers, think about your ideal client and what they are looking for.  Where will that ideal client see value and how can you provide it?

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