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...
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. ...
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...
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...
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...
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...
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...
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...
With so many bookkeepers scared to make the move from hourly rates to fixed fees I decided to write another short article highlighting the problems of trading your time for money.
While most would accept that charging by the hour seems so simple for the more risk averse bookkeepers, there are also some major flaws with this approach. There is no upside to increasing your efficiency or investing in newer technology.
The more efficient you become, the longer and harder you’ll need...
[MM_Member_Decision membershipId='1|2|3|4'] This may sound strange, that you need to track time with fixed fees. I've spend goodness knows...