{"id":50816,"date":"2024-01-18T00:01:00","date_gmt":"2024-01-18T06:01:00","guid":{"rendered":"https:\/\/taxprocenter.proconnect.intuit.com\/?p=50816"},"modified":"2024-01-16T13:04:06","modified_gmt":"2024-01-16T19:04:06","slug":"double-your-revenue-without-working-harder","status":"publish","type":"post","link":"https:\/\/accountants.intuit.com\/taxprocenter\/advisory-services\/double-your-revenue-without-working-harder\/","title":{"rendered":"Double your revenue without working harder"},"content":{"rendered":"\n<p>One of the most damaging beliefs most firm owners have is thinking that in order to increase their revenue, they simply have to work more hours and add more clients.&nbsp;<\/p>\n\n\n\n<p>Most firm owners:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Try to get as many clients as possible or take on anyone that walks through their door.<\/li>\n\n\n\n<li>Answer \u201cquick questions\u201d and do free work.<\/li>\n\n\n\n<li>Work as much as possible, especially during tax season, until they\u2019re completely burned out.<\/li>\n\n\n\n<li>Have no clue what to charge, so they wing it with each client.<\/li>\n\n\n\n<li>Send proposals or quotes, and hear crickets while they wait for a response.<\/li>\n\n\n\n<li>Give discounts and negotiate fees.<\/li>\n\n\n\n<li>Sacrifice their health and personal life for their firm and clients.<\/li>\n\n\n\n<li>Miss out on precious time with friends and family that they\u2019ll never get back.<\/li>\n<\/ul>\n\n\n\n<p>This is the \u201ccross your fingers\u201d method of running your accounting or tax firm. You do ALL of this work and cross your fingers, hoping your revenue will increase, and that you will have the time and freedom you have been dreaming of.<\/p>\n\n\n\n<p>This is exactly why so many firm owners are struggling and can barely keep their head above water.<\/p>\n\n\n\n<p>The good news is that there is a MUCH better way. In fact, hundreds of accounting and tax professionals double their firm revenue while working FEWER hours, let go of the clients that aren\u2019t a fit for them, and eliminate the exhaustion and <a href=\"https:\/\/taxprocenter.proconnect.intuit.com\/practice-management\/dont-treat-burnout-as-a-badge-of-honor\/\">burnout<\/a> they\u2019d all been feeling for years (and sometimes decades) just by following a few simple steps.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-x-large-font-size\"><strong>Step 1: Determine your value<\/strong><\/h3>\n\n\n\n<p>If you\u2019re reading this, you are most likely NOT charging the fees you want to charge. Maybe you\u2019re winging it with every client and don\u2019t even have a set fee structure, or constantly doing \u201cfavors\u201d for clients like answering quick questions and not charging for work that you do.<\/p>\n\n\n\n<p>One of the root causes of this is not having a clear picture of the <a href=\"https:\/\/taxprocenter.proconnect.intuit.com\/client-relationships\/show-clients-how-much-value-you-bring\/\">value you bring to your clients<\/a>. Your clients and potential clients have a MASSIVE problem that will not get solved by itself. You are the expert and they need YOU, not the other way around.\u00a0<\/p>\n\n\n\n<p>Higher fees actually show that you are the expert, and will attract higher value clients (instead of anyone just looking for the cheapest deal). Starting to <a href=\"https:\/\/taxprocenter.proconnect.intuit.com\/advisory-services\/setting-your-fees-for-advisory-services-engagements\/\">charge<\/a> what you\u2019re REALLY worth attracts the right clients, while allowing you to gain back time and freedom without losing any money.\u00a0<\/p>\n\n\n\n<p>Let\u2019s see how much you\u2019re really worth!&nbsp;<\/p>\n\n\n\n<p>List out your strengths, experience, and accomplishments. Compile stories and testimonials from people you have helped and what results have you gotten for them. Think about how much time, money, and energy you have spent to get to where you are today.<\/p>\n\n\n\n<p>When you\u2019re done, you will see that you are massively undercharging for your services, by AT LEAST 200-300%, and you\u2019re likely doing a TON of free work for your clients.<\/p>\n\n\n\n<p>But right now you\u2019re probably thinking, \u201cThat sounds awesome, but nobody would ever pay me 200-300% more, especially when they\u2019ve been getting it for free!\u201d<\/p>\n\n\n\n<p>They most certainly will pay you that much, but only if you present your services the correct way.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-x-large-font-size\"><strong>Step 2: Clearly communicate your services\u00a0<\/strong><\/h3>\n\n\n\n<p>Firm owners often think they have a lead problem when they actually have a <a href=\"https:\/\/taxprocenter.proconnect.intuit.com\/client-relationships\/client-communications-getting-ahead-before-busy-season\/\">communication<\/a> problem. They simply don\u2019t know how to communicate in a way that shows clients the value of paying premium fees for recurring services.<\/p>\n\n\n\n<p>As a firm owner, you may not feel like a <a href=\"https:\/\/taxprocenter.proconnect.intuit.com\/practice-management\/sales-101-for-tax-professionals-advanced-strategies\/\">natural salesperson<\/a> or the best at communicating what you have to offer, and that\u2019s okay. Just a few small tweaks can make a huge difference in how your clients and prospects feel about you.<\/p>\n\n\n\n<p>Make things simple to understand. Present only HIGH-LEVEL findings of what you found looking at the client&#8217;s situation. Focus on the RESULTS and painting a picture of the scenario they\u2019re looking for. Relate your solution and recommendations back to their biggest pains and their strongest desires, and how it will help them reach their most important goals.<\/p>\n\n\n\n<p>In reality, people don\u2019t care about the details (example: what forms you\u2019ll fill out) as long as they\u2019re confident you will get them results and you can solve their problems. So give them certainty! You can say, \u201cI\u2019m 100% confident I can help you solve X, Y &amp; Z with moving forward with this plan.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-x-large-font-size\"><strong>Step 3: Ask for the engagement and get paid<\/strong>\u00a0<\/h3>\n\n\n\n<p>If you\u2019ve done the first two steps the right way, you\u2019ve likely already led them to a yes! Now it\u2019s time to invite them to enroll with you on the spot and wait for their response.<\/p>\n\n\n\n<p>There\u2019s no quote or proposal. No price negotiations. Just the invitation to work together that sounds something like: \u201cLet\u2019s get started and review the engagement letter and invoice together right now.\u201d<\/p>\n\n\n\n<p>A solid engagement letter will eliminate any confusion for you AND the client about what is being provided and how it\u2019s being delivered. You can let the numbers and what is in writing (not you) do the talking!<\/p>\n\n\n\n<p>Always have the engagement letter ready at the time of a sales meeting, and be ready to accept payment so you can get paid before you do any work!<\/p>\n\n\n\n<p>These simple steps will help you to double their firm revenue while working FEWER hours and eliminate the exhaustion and burnout for good.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Learn how to determine your value, clearly communicate your services, ask for the engagement and get paid. Michelle Weinstein explains.<\/p>\n","protected":false},"author":144649102,"featured_media":50820,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rkv_browse_by_id":0,"rkv_cta_id":0,"rkv_optimize_for_pagespeed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"useModifiedDate":false,"customPublishDate":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[646041873],"tags":[646041848],"intuit_collection":[],"intuit_series":[],"coauthors":[646041911],"class_list":["post-50816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advisory-services","tag-tax-advisory"],"header_image":"","yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Double your revenue without working harder - Tax Pro Center | Intuit<\/title>\n<meta name=\"description\" content=\"Learn how to determine your value, clearly communicate your services, ask for the engagement and get paid. 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