{"id":61451,"date":"2019-06-24t11:00:32","date_gmt":"2019-06-24t15:00:32","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=61451"},"modified":"2024-08-14t09:30:22","modified_gmt":"2024-08-14t13:30:22","slug":"i-lost-a-client-to-an-accounting-firm-with-cheaper-fees","status":"publish","type":"post","link":"\/\/www.g005e.com\/2019\/06\/24\/i-lost-a-client-to-an-accounting-firm-with-cheaper-fees\/","title":{"rendered":"i lost a client to an accounting firm with cheaper fees"},"content":{"rendered":"

\"businessman<\/a>why they came back.
\n<\/strong><\/p>\n

by ed mendlowitz<\/i>
\ncall me before you do anything: the art of accounting<\/i><\/a><\/p>\n

i have never been the lowest-priced accountant, but neither was i the highest.<\/p>\n

more:<\/b> getting a referral from an adversary<\/a> | the background to saving a business<\/a> | secret success formula: e=fs4uh<\/a> | becoming an expert in irs collections<\/a> | how hidden bias taints results<\/a> | when to keep some plans to yourself<\/a> | when writeups went extinct<\/a> | kennedy\u2019s acceptance speech<\/a> | what consulting is<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

sometimes prices charged are subject to the perception of the client and not reality. fees are always related to the value provided, although that isn\u2019t always evident.
\n
\nan example is a meeting i had with an attorney who had been referring a lot of business to me. he mentioned that he thought my fees were much higher than my \u201ccompetition\u201d and that it was getting harder for him to refer me. when i left him, i had lunch with one of those \u201ccompetitors,\u201d who mentioned that they thought we were not being fair because we seemed to be lowballing fees to get business.<\/p>\n

neither was right, but that was their perception.<\/p>\n

that day, when i returned to my office, i received a client survey from a good client who gave us the highest possible ratings. but he said that he thought our fees were too high, and while he paid them he did not recommend us because of that.<\/p>\n

i dealt with all three situations and also adopted methods to create the perception (as well as the reality) of delivering extraordinary value for the fees paid, and lessened the dollar amount paid from being a sticking point.<\/p>\n

recently we received a call from a client we lost about five years ago simply because he was quoted much lower fees \u2013 actually he was lowballed by a larger firm. the call was to see if we could unravel an untenable tax situation in which his multiple entities could not offset those with gains with losses from the others. the cause of this was because of inattention by the partners and staff working on his account.<\/p>\n

we are all in business and as such need to earn adequate income. if too excessive, we will lose customers. if too little, we lose our future financial security by not being able to bank enough now and also to provide for reasonable growth. there is a balance, and as i have stated many times, accountants do not make obscene amounts \u2013 if we did, why do we keep on working? we should have much better things to do with our lives.<\/p>\n

at the end of the day, the fees pay for the services provided. more fees equate to more services and value. less fees mean less work, attention and obviously less value.<\/p>\n

in the case of our wayward client, the accounting firm did an adequate job of filling in the forms and filing neat returns on time. what they did not do was the part that provided added value to the client. that means focus on the client with a big-picture look at what the client is doing, tying in all the loose ends, coordinating the compliance work with planning, suggestions, oversight and what is important to the client. we did that \u2013 their \u201cnew\u201d accounting firm did not do that.<\/p>\n

our fee structure covers the vital extras that separate us from the others and helps our clients become richer. their fee structure covered less than the basics, because when people engage a professional accounting firm, the extras are the basics.<\/p>\n

a takeaway here is to pay attention to your clients, get paid for it and effectively communicate the value to your clients.<\/p>\n","protected":false},"excerpt":{"rendered":"

why they came back.<\/strong>
\nby ed mendlowitz<\/em>
\ncall me before you do anything: the art of accounting<\/a><\/em><\/p>\n","protected":false},"author":1341,"featured_media":42262,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[1905,1363,2274,3120,3002],"tags":[4278,3958,4281,4283],"class_list":["post-61451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-clients-and-service","category-featured","category-pricing","category-pro-member-exclusive","category-special","tag-billing-rate","tag-cpa-billing-rates","tag-fee-structure","tag-pricing-rates"],"acf":[],"yoast_head":"\ni 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