Increase The Value To Your Clients To Increase Your Income
In this episode of the "Escaping the Accountant's Trap" podcast, host Adam Lean invites consultant Geraldine Carter to discuss how accountants can increase their value to clients and escape the cycle of low-value, high-demand work. Geraldine shares her own experience of struggling to find an accountant who could provide the guidance and forecasting she needed for her business. They highlight the importance of shifting from hourly billing to value-based pricing and embracing specialization within a niche market. By understanding the specific needs of their clients and offering expertise and guidance, accountants can differentiate themselves, provide more value, and command higher fees. They emphasize that raising fees actually reduces competition and attracts clients who appreciate the unique insights and services they offer.