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Everything you needed to know about how to increase your fees

by Feb 17, 2018Uncategorized

On this blog post you will find a list of all our blog posts which are talking about some aspect of putting up your fees. After all, increasing your fees can be an absolute minefield. The last thing you want to do is get it wrong and risk losing your best clients.

 

The 3 ways to successfully increase your fees

So many firms think that growth needs to be as a result of winning new clients. When our clients are in the second phase of growth and getting a firm foundation, we typically help them to grow significantly. Not by winning new clients – or actively trying to win new clients. But by increasing their fees. In this blog post, we consider the three ways to increase your fees. Read more

How can I increase my prices? 8 ideas to help your fee increase go more smoothly

On a webinar with Spotlight Reporting we discussed that putting your fees up is often a good first step to scaling your firm. After all a fee increase can increase your cash flow, profitability and available capacity.

Many accountancy firm owners would like to increase their fees, but worry about doing so. They often ask “how can I increase my prices without losing clients”. One person recently said: I have a client I’ve been working with for some time who is well connected, has become a friend, and pays on time. However, I am charging her the rates I had four years ago, when I started my practice. I need to bring her up to my current rates, as I can’t afford to keep doing her work at rookie rates. What’s the best way to tell her this?  I really don’t want to lose her.

In this article we consider tips on how to increase your fees and get yourself in the right mindset to do so. Read more

The ultimate small firm accountant’s guide to raising fee levels

One of the big problems growing small accountancy firms face is a lack of cash, coupled with many small clients on low fees. You know the ones, the legacy clients. The ones you took on in the early years when you were just desperate for any client who was prepared to pay you money. The problem is that these small clients on low fees are often pretty needy and you are losing money on them. Or you feel a sense of loyalty to them as they took a chance on you, so why should they either be moved on or given a large fee increase?

This article discusses how to go about putting your fees up in order to increase your cash flow and profit margin. Read more

Why most small accountancy firms don’t have a clear fee strategy

The way you set your fees directly dictates the profitability of your small accountancy firm. It also is a major contributory factor to why some firms seem to effortlessly scale up to one million pounds, and others plateau. So in this blog post, we consider why is the fee strategy of many firms not really considered? What should you consider when trying to increase your average fees, or setting a pricing strategy for your firm? Read more

Add-on and value pricing: How do you set your fees?

In this article I consider add-on pricing (as well as more general pricing strategies) and its merits for accountancy practices. Read more