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Pricing

Should We Charge for Onboarding?

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The process of onboarding new clients is your opportunity to set expectations and boundaries for the future of your relationship.  

The process of onboarding has become more time consuming over the last few years. Money laundering checks are becoming more in-depth, with online checks costing money to carry them out.

The checks can sometimes involve a bit of back and forward to ensure that you have the documents to let you tick all of the boxes required.

It's not just a legal process, but also…

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Price for the Majority

Price for the majority

When you price your service you want to put them at the point where the majority of your buyers are able to afford them, thus selling to more people.  This makes absolute common sense.

It's also a huge mistake that so many bookkeepers around the country are making day after day.  

When I talk about my idea of a minimum of £35 per hour price point, I'm often met with the reply "That's fine for other places, but clients here won't pay that much"

It's almost like people in that part of the count…

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Don't Just Sell the Shelf

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I made the crazy decision that a Saturday trip to IKEA was a great idea this weekend.  After being carried along in the crowd around the store, I noticed the same thing with virtually every product.

IKEA have planned their whole store to encourage you, the shopper, to spend more money with them.

They have a few base products, and then add-ons to allow you to personalise that product to your requirements.  

They don't want you to buy a KELLAX shelving system at £39.  They want you to add four …

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I Can't Charge That!

I Can't Charge That!

I believe that bookkeepers should be able to charge at least £35 per hour.

When I say that, how does that make you feel?

If you're like most bookkeepers I speak to, you probably let out an audible gasp. Or shouted at the screen "yeah, right!"

If you're charging somewhere between £12 and £20 you probably think £35 an hour is unachievable.  If you're charging up to £25 you probably think you're about the maximum you can charge. If you're charging less than £12 you must think I'm on another plan…

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Is The "Market Rate" Really That Important?

Is Market Rate Important

It's not unusual to hear the question "what is the going rate in my area for a bookkeeper?"

This question often saddens and frustrates me. It's especially concerning when I hear justifications for artificial maximum chargeable amounts being geographic area.

I genuinely believe that there is no market rate for bookkeepers.  Some business owners will see huge value in a bookkeeper and others will see little or no value.

When we try to target everyone, the people who see us of value and not, we …

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It's Circus Time

It's Circus Time!

It's circus time! They've come a long way since I was a wee boy.  They really are experts at keeping the audience amused and entertained.  Add in a few daredevil stunts and it'll make you gasp.

The other thing that the circus are experts in is pricing.  See how many of our usual pricing strategies you can see in my recent experience.

Initially they offer free tickets around the community they are visiting.  You can attend at absolutely no cost whatsoever. An amazing lead magnet, I'm sure you'l…

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Am I Worth It?

Am I Worth It

How many times have you procrastinated over your pricing? Maybe you need to increase your prices, or you want to quote a higher initial price but chicken out?

You just know that this client can’t afford to pay your increase.  You haven’t asked them. You don’t need to. You know.

I speak to bookkeepers about this very thing almost on a weekly basis and the story is always the same.  I was there myself not so long ago.

I walked in to meet a new client.  As I sat down in his office to listen to…

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Are you selling yourself short?

Are You Selling Yourself Short

As bookkeepers, most of us offer our potential clients a free consultation.  It’s the recognised thing in the industry, but how many of us really get the most from these meetings?  And how many end up doing free work for the client?

How many of you can relate to this story? 

When I started out as a bookkeeper I would go to meet potential clients for their free consultation.  When I got there they would tell me all of their business woes and I would bend over backwards to help them. 

Often I w…

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Time is money

Time is money. Has there ever been a more dangerous or misleading phrase in the history of the world for entrepreneurs?

Time is not money. Time is not a commodity. We can't save time in the bank, or earn time back. We can't horde time in the corner, or under this mattress.

Time is not money, value is money.

If you remember nothing else from this article, remember this: "People buy what you do, not how long it took you to do it."

Think about that.

If it were true that time is money then …

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Raise Your Fees

When I talk to bookkeepers about their pricing, something that comes up time and again is raising fees. There is a certain resistance to this by bookkeepers. More often than not when the topic is discussed I hear things like "My clients won't pay any more" or "If I raise my prices they'll leave."

This is one of those times when the fear of doing something is a lot worse than actually doing it.

We often convince ourselves that bad things will happen, so avoid it at all costs. Our clients are al…

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