Business Strategy for CPA's

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

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CPAs and accountants worked crazy hours in 2020. The start of 2021 may be no different. 

Many CPAs, out of concern for their clients, logged extra hours for those clients, to understand PPP, EIDL, and other loan programs to help keep their clients’ businesses afloat. 

Many CPAs are exhausted. Some are excited. Most are in need of a break, and need to recharge from a tax season with no end. 

Usually on this podcast I talk about business strategy for your accounting practice so that you can deliver more value to your clients, be better compensated, and take back your time, so that you can enjoy more of your life. Because True Wealth is discretionary time. 

In this episode, I take you on a journey of a different sort. 

A journey of favorite places to travel. 

Because the time to think about your break - the break you get to take to recharge - is now. 

It’s now, before you get swept away by another tax season, that you don’t resurface from until May, if you’re lucky. 

The window for you to think about how, when, and where, you’re going to recharge is right. Now. 

And to facilitate your dreams… in this episode I share with you some of my personal favorite places, to get you thinking, dreaming, and making plans. 

If you want to know what my favorite places are, you’ll have to listen to the episode :)

Want to earn more and work less, so you can travel more? 

It all starts with pricing. 

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Free 5-day email course - Better Pricing Strategies for CPAs

Get here

Upcoming training: 

How Should I Price  __X__ ?

Thursday, January 14th, 12pm ET  

Free, register here: https://shethinksbigcoaching.com/free-stuff/

Download the ebook “6 Simple Steps to Double Your Revenue”

https://shethinksbigcoaching.com/download-double-your-revenue

Schedule time with Geraldine:

https://calendly.com/geraldinecarter/15min

Work with Geraldine:

https://shethinksbigcoaching.com/coaching-options

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Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

Today I share with you a way of looking at 2021 on your clients’ behalf. 

While exactly predicting the future is difficult, the year can be broken down into 3 main phases: hunkered-down, re-opening, and post-Covid. We are likely to be hunkered down through April, then May - September we will see continued business growth as things reopen, then September and beyond as we reach herd immunity, we will find our new post-Covid-normal. 

Helping your clients consider these 3 phases and anticipate demand in their businesses can set them up to avoid a crash, or take advantage of a wave of interest.

Four main groups of businesses

There also exist 4 main groups of businesses.

Those who:

1. experienced significant growth in 2021 (plexiglass and cleaning suppliers, funeral homes, software that facilitated work-from-home)
2. had steady or minimally impacted (professional services, construction, and businesses that were essential or could operate in a Covid-safe way)
3. suffered, but are managing to hang on, if only barely (physical therapists, chiropractors, salons, commercial real estate)
4. Got walloped (local restaurants, gyms, travel related, anything conference related)

Putting your clients into these different groupings can help them think about how they might be affected in each phase.  

Help Your Clients Anticipate Demand

For example:

What should the plexiglass supplier be anticipating for demand in 2021? How about the funeral home - at what point will demand dial down? How should one staff appropriately through each phase?

What should the physical therapist anticipate in terms of demand - if they laid off staff, when should they think about ramping back up? Given that hiring takes time (up to 8 weeks!) when should they begin the hiring process so as not to miss the wave of pent-up demand? If they wait for demand to ramp up to begin hiring, they will be unable to take full advantage of business demand.

For the salon owner: when will demand peak, and how to be best prepared?

Does the restaurant owner need to restock wine inventory?

When should the yoga studio owner begin adding more classes to the calendar?

If you cannot be an expert, at least be a guide

You don’t have to have the answer to all of these questions. Give these questions a few minutes of your attention before your next meeting with them, and address them together with your client, to add significant value. 

This is where you earn the title Trusted Advisor.

Want structure for conversations with clients?

Download the 4x3 grid tool here, Anticipate 2021 for Your Clients

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Free 5-day email course - Better Pricing Strategies for CPAs

Get here

Upcoming training: 

How Should I Price  __X__ ?

Thursday, January 14th, 12pm ET  

Free, register here: https://shethinksbigcoaching.com/free-stuff/

Download the ebook “6 Simple Steps to Double Your Revenue”

https://shethinksbigcoaching.com/download-double-your-revenue

Schedule time with Geraldine:

https://calendly.com/geraldinecarter/15min

Work with Geraldine:

https://shethinksbigcoaching.com/coaching-options

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

Create a different 2021.

It was a hard year. 

I suspect you don't want 2021 to be a recreation of 2020. 

But it's easy to get sucked under, and run on autopilot. 

It's easy to let your business run you, and dictate your day-to-day. 

It's ok (sort of), it happens to most of us. 

But if you want 2021 to be really different from 2020, now is the time to think about what you want it to look like, and what choices you will make to create that different reality. 

Taking a wild guess that you like spreadsheets, I put some together to get you started, and to actually get you putting pen-to-paper (ha) on your numbers, money, math, and time. 

• How many clients will you have?
• And at what prices?
• What work will you decline?

These are choices you may want to make now, before the next wave of busy washes in.

Are my spreadsheets perfect? Could they be more sophisticated? (No, Yes.)

Are they better than starting from scratch? (Yes.)

Set aside an hour or two, and build out Your. Amazing. 2021. 

Would love to hear how it goes, and what your "Holy Heck Yeah" goals are.

HOW TO CREATE YOUR 2021 PLAN & STRATEGY

1. Watch Video – TEMPLATE - 2021 Financial Goals & Strategy 

https://www.loom.com/share/276a996dce144cb08661766c4987cc70

1. Here is a link to the G. Spreadsheet: https://shethinksbigcoaching.us18.list-manage.com/track/click?u=ebb61d37ca514f74be23c7b03&id=3f3767cff0&e=a60340bd48

1. *MAKE A COPY* - and customize to your heart's content.

BONUS: consider creating something similarly useful for your top clients. :)

Free 5 day email course: 

Better Pricing Strategy for CPAs

https://shethinksbigcoaching.com/subscribe-get-your-pricing-right/ 

Upcoming training: 

HOW DO I PRICE ______ ?

January 14th, 12pm ET 

https://shethinksbigcoaching.com/free-stuff

(scroll down)

Schedule time with Geraldine:

https://calendly.com/geraldinecarter/15min

Work with Geraldine:

https://shethinksbigcoaching.com/coaching-options/

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

My guest today is Erica Goode. 

Erica is a freelance finance professional, working with a small handful of clients, focusing on financial forecasts while staying out of tax as much as possible. 

Many CPAs choose hourly billing when they don’t know how long it will take. 

This pricing methodology - if it can be called that - leaves your client without a clear price. 

While it may seem like the safest option, if the project takes much longer than you anticipated, either your client is left with the high cost of your unanticipated work, or you eat the hours. If you split the difference, you are likely both left with a sour taste. 

By simply setting the price at the maximum length of time you might take, you

• Provide a clear price to your client, so they can make an informed buying decision
• Force yourself to actually think through how long it might take, to ensure it’s worth it to you
• Are motivated to be expedient in your work. 

Pricing new and one-time projects is difficult. Consider these strategies when setting your price:

• Set it at the maximum amount of time you think it might realistically take - Scope Creep always happens, and setting the price at the top end of your window gives you margin for the extra follow up communications. 
• Set it just shy of the maximum, knowing you will work more quickly once the price is set, and give your client a “good deal”
• Set the price 15% above the maximum, and give your client the best possible service. You could argue this last strategy is also an excellent deal. 

When you share your price, pay attention to their reaction. 

If it was an immediate Yes, you know there may have been room to go up. If there is a pause, you are likely in the right range. If they say no, recognize they just saved you from either sending a higher-than-desired bill, or eating your hours. In this case, no is not a bad thing. 

Getting your pricing right is the single most important change you can make in your business. 

If you still bill by the hour, head on over to SheThinksBigCoaching.com and take my free 5 day email course: Better Pricing Strategies for CPAs. 

Episodes mentioned:

082 Cashflow Forecasting, Niching, and Raising Your Rates with Emily Sandberg 

https://shethinksbigcoaching.com/082

Upcoming training: 

TRANSLATE YOUR EXPERTISE INTO CASH

Thursday, December 17th, 12pm ET 

https://shethinksbigcoaching.com/accountants-anonymous-12-17

Download the ebook “6 Simple Steps to Double Your Revenue”

https://shethinksbigcoaching.com/download-double-your-revenue

Schedule time with Geraldine:

https://calendly.com/geraldinecarter/15min

Work with Geraldine:

https://shethinksbigcoaching.com/coaching-options/

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

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If you have ever had to fire a client, you know how hard it can be. In the end, you know it will be better for you both (or at least, for you), but when it comes time to have the conversation or hit the Send button,  it’s easy to talk yourself out of doing it today. 

Letting go of, or getting your clients in the right service at the right price, can be difficult, but it’s necessary to maintain the health and growth of your business. 

Most CPAs have more work than they can handle.

If you’re going to maintain and grow a healthy business, creating space is a must for YOU, it’s a MUST for your best clients, and it’s an absolute necessity if you’re going to take on better business. 

This step of creating space is challenging for each of my clients who goes through it. 

But you need to be selective, you have to be more selective, so it’s time to select.

So I’ve pulled together a script for you - that you can download below - to get you started. 

Before I give you the script, let’s go over a few key points. These points will help you stay on track as you navigate the conversation. 

• Give plenty of notice if possible. Either get your letters out now - before the 21st of December - or get them out in the first two weeks of January.
• So START NOW.
• If you have a contract, meet the terms of the contract, or find someone who can take them over. 
• Complete all your outstanding tasks, unless you and the client negotiate a hand-off to another CPA. 
• I am a big fan of treating people with respect and kindness, and maintaining good relationships. So, operate in good faith to help them make a successful transition. 

In terms of the message itself, 

1. Keep your message positive, and keep the focus on you – it’s about you, not about them.
2. Don’t over-explain your reasons – you don’t have to elaborate.
3. Keep your message short, simple, and to-the-point.
4. If you’re finding a new home for a good client, recommend a colleague or two who can take over their account. Make sure you’ve spoken with those colleagues first and that they are truly happy to accept your clients.
5. Your clients might beg you to stay. If they do, be firm. Have a plan with milestones for moving them along, while still being helpful – so that you can maintain a healthy relationship and a clear conscience.
6. If they try to add last minute tasks, set a clear deadlines and scope that will mark completion. 

The script I’m about to share is for clients you’ve outgrown.

We’re not talking about problem clients. And by problem clients I mean the ones who are chronic late-payers, difficult to deal with, and chew up your time, THOSE, we have to handle a bit differently. 

I’ll handle that script in a future episode. 

Remember, this is for clients you have outgrown, but who aren’t bad clients. 

Finding a new home for your clients is hard. You have relationships with these folks - some, that last decades. 

Finding the right words can be tough, so hopefully this script will make it a bit easier. 

But remember that change is part of life, and that you are responsible for your life and your business only. And your best clients deserve the best of your attention. Doing this is in the best interest of your best clients. 

If anything, you owe it to your best clients to find a new home for your decent clients. 

And as long as you make good on your end of the bargain, AND do what’s right that might not necessarily be spelled out,  you will set them and you up for an amicable transition. Wish them well, they will do the same, and carry on growing your business. 

Download PDF: Script for clients you’ve outgrown

https://shethinksbigcoaching.com/115-pdf-download

Free 5 day email course: 

Better Pricing Strategy for CPAs

https://shethinksbigcoaching.com/subscribe-get-your-pricing-right/ 

Upcoming training: 

TRANSLATE YOUR EXPERTISE INTO CASH

Thursday, December 17th, 12pm ET 

https://shethinksbigcoaching.com/accountants-anonymous-12-17

Schedule time with Geraldine:

https://calendly.com/geraldinecarter/15min

Work with Geraldine:

https://shethinksbigcoaching.com/coaching-options/

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

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Trap money is money that looks like good money, but in reality, it’s a trap. 

Trap Money is important to be able to recognize because it’s one of the factors keeping CPAs under the glass income ceiling and working long hours. 

If you can learn to recognize Trap Money for what it is, you’ll be better equipped to say No Thank You at the gates, and then, eventually move your Trap Money income out of your revenue streams.

If you can stop accepting Trap Money, it will make your transition to a high-margin CPA firm that much faster, and that much easier. 

So what is Trap Money? It’s money that appears to take only 20 minutes to make, and you make 3 or 4 hundred dollars. Typically it’s in the form of individual returns. 

It looks like good money, because the thinking goes that if it takes 20 minutes to make $300, that’s an hourly rate of $900, and that’s not shabby. 

The problem is, that math doesn’t account for the whole picture. 

The math on 20 minutes for a personal return is 18 weeks working 40 hours a week. 18 weeks is 4.5 months. Tax season is only 2.5 months, or 10 weeks. 

Now, if you have 3 staff you can push the work to, that’s another situation. That’s 6 weeks per staff member. So that’s doable. If it’s truly 20 minutes per return, which we have established that it’s more like 2 - 3 times that. 

But would you rather that your business have: 

• 10 CFO-Advisory clients at $75K 
• 30 clients where you are a Concierge CPA at $25K 
• 50 simple Advisory clients at $15K 
• 250 business returns at $3K  
• or 2,000 Individual returns at $350 apiece?

A reason that so many CPAs are stuck on the hamster wheel is Trap Money. 

Recognize it for what it is, decide WHO you want to have as clients and where you want to focus your talents, and get rid of anything that risks getting you caught in trap money. 

If you don’t believe me, let me give you an update from Minnie, my client from last week’s episode. Last April, she was drowning in Trap Money. She was making enough Trap Money - she was making GOOD Trap Money - but the earning of that money had taken control over her life and crowded out time to spend with her new little one. 

Once we got into her business, set up consulting packages at $2500, $5K, and $7500, she was able to start buying her time back, and that enabled her to find a new home for about 30 clients. 

So watch out for these offerings you have that look like easy money….  

If you’re not convinced, Do the math… and add up all the increments of time. 

Your next steps to getting to the bigger ticket items is to stop accepting this type of work, take it off your services list, and if people ask for it, recommend some other CPAs who would be happy to have that type of work. 

If you think you might have Trap Money you can’t see, and you want me to help you find it, a single 1:1 coaching session with me will surface it. 

Getting rid of Trap Money is just one way to get your business to the next level. 

Changing how you price is the single fastest change you can make with the largest impact.

Episode mentioned:

113 Out of Compliance and into Tax-savvy Stock Option Consulting, with Minnie Lau, CPA

https://shethinksbigcoaching.com/113

Free 5 day email course: 

Better Pricing Strategy for CPAs

https://shethinksbigcoaching.com/subscribe-get-your-pricing-right/ 

Upcoming training: 

TRANSLATE YOUR EXPERTISE INTO CASH

Thursday, December 17th, 12pm ET 

https://shethinksbigcoaching.com/accountants-anonymous-12-17

Schedule time with Geraldine:

https://calendly.com/geraldinecarter/15min

Work with Geraldine:

https://shethinksbigcoaching.com/coaching-options/

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

My guest today is Minnie Lau. Minnie provides tech professionals working in late-stage start-up companies that are about to IPO, guidance on stock option vesting and selling strategies. 

These tech professionals who work at top levels inside start-ups about to IPO are going to receive stock options worth hundreds of thousands of dollars, sometimes more. 

Without guidance, not only will they get hit with a giant surprise tax bill, they will lack a strategy  for how to optimize those options based on varying stock prices and other factors.

Minnie helps them understand their CHOICES. 

I wanted to have Minnie on the podcast to showcase what’s possible in the Advisory space. What she has created in terms of consulting packages is well outside the box, it’s completely different from the more common forms of Advisory services that CPAs often offer business owners. 

You will hear what it’s been like for her to transition from a compliance-heavy practice to offering high-margin consulting packages.

What stands out to me is that when it comes to transitioning your practice to high-margin work, there is no bible, no single playbook for everyone to follow. 

I am working with 9 CPAs and accountants right now on this transition, and yes,  while there are shared fundamentals, no two clients have created the same advisory services. Everyone is creating something different that uniquely suits their talents and interests, overlapped with what their clients need and value.

If you want to do high-value, impactful work that comes easily to you, and for clients you enjoy, it requires writing your own playbook. 

If you want to create and offer high-value advisory or consulting services, so you can earn more and get your life back, I offer a variety of ways to help you do just that. Check out shethinksbigcoaching.com/ for solutions that fit inside your time available and what you are comfortable investing. 

YOU CAN change the nature of your business and the quality of your life.  

Episodes mentioned:

103 Cashflow Forecasting, Niching, and Raising Your Rates with Emily Sandberg 

https://shethinksbigcoaching.com/103

053 Adding Advisory Services and the Power of Niching Down with Tracy Jepson

https://shethinksbigcoaching.com/053

Connect with Minnie:

Website: https://minnielau.com/

Upcoming training: 

TRANSLATE YOUR EXPERTISE INTO CASH

Thursday, December 17th, 12pm ET 

https://shethinksbigcoaching.com/accountants-anonymous-12-17

Download the ebook “6 Simple Steps to Double Your Revenue”

https://shethinksbigcoaching.com/download-double-your-revenue

Schedule time with Geraldine:

https://calendly.com/geraldinecarter/15min

Work with Geraldine:

https://shethinksbigcoaching.com/coaching-options/

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

Today I'm going to dig into what deliverables are and what they sound like in the CPA world, so that you can get better at recognizing them and understand why it's such a problem to sell deliverables. We'll talk about what outcomes you might consider selling so that you know what it sounds like. And finally, when you're stuck in deliverables, how to convert them into outcomes. 

CPA deliverables sound like this: P&L, balance sheet, accounting services, financial service, individual, and business tax prep, state and trust tax, print, nonprofit tax prep, tax planning, tax presentation, bookkeeping and write-up, business valuation, cashflow and budget analysis, payroll, accounting software selection and setup, elder care, monthly meetings, spreadsheet of your most important KPIs, plans and projections, tax returns, a secure password-protected portal, and succession planning. 

Why is it a problem to sell deliverables? 

1. It's not what your clients want.

2. Not only is it not what they want, it's that they might not even know that that's what they need. Who really wants an analysis of their budget? If, on the other hand, we take care of your financial health and wellness, that's a different conversation. 

3. Deliverables unto themselves are of limited value. And because value must exceed price for your prospect to buy, deliverables will suppress your prices, because deliverables will always be less valuable than outcomes. So take for example, a P&L. A P&L is valuable, but by comparison to outcomes, like stop having a bank account that's always empty, start filling up your emergency funds and saving for retirement. That's much more valuable. 

Deliverables are of limited value. Outcomes and results and transformations are limitless in value. So sell those instead. 

Now you're wondering what outcomes do I sell instead? It depends on what your niche or vertical wants. 

So here's where the meat is in this burger. When you are stuck in deliverables, how do you get your head into outcomes? Use this little phrase: SO THAT. 

It works like this: 

• Get your P&L every month on time so that you know where your money went. 
• Get your balance sheet so that you know what your business is worth. 
• Take care of your estate planning so that your loved ones get your assets, not the government. 
• Get on top of your cash flow so that you are never late on paying your employees. 
• Get on top of your cash flow so that you are not up at night wondering if that check will clear. 
• Get a spreadsheet full of KPIs so that you know what numbers to focus on and can stop guessing about what drives profitability in your business.
• Use our password-protected portal so that you can send us your documents easily and securely. 
• Let's do a business valuation so that you know how much you can get for your business when you put it up for sale. 

So that. This is the phrase that gets you out of deliverables so that you can get into results, so that you can provide more value to your clients, so that you can increase your prices, so that you can work less and earn more because that's the ultimate outcome, right?

Stop selling deliverables and start selling outcomes. 

If you want help transitioning your accounting practice from selling lower value deliverables to selling high value outcomes put 15 minutes on my calendar. Just head over to shethinksbigcoaching.com and click on the big fat red schedule time with me button and the interwebs will take it from there. 

Episode mentioned:

110 15 Phrases to Scrub from your CPA Firm’s Website

https://shethinksbigcoaching.com/110

Upcoming training: 

15 PHRASES TO SCRUB FROM YOUR WEBSITE AND WHAT TO SAY INSTEAD

Thursday, November 19th, 12pm ET  

Download the ebook “6 Simple Steps to Double Your Revenue”

https://shethinksbigcoaching.com/download-double-your-revenue

Schedule time with Geraldine:

https://calendly.com/geraldinecarter/15min

Work with Geraldine:

https://shethinksbigcoaching.com/work-with-me/

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

We're back today with Jonathan Stark. In case you missed it we did a recording with Jonathan a couple of weeks ago. It’s episode 106 - Better Pricing Strategies for Accountants. There was so much more to talk about that I invited him to come back on to continue the conversation about pricing. 

One of the problems that CPAs run into in their practices is that they tend to fall back on two methodologies for pricing: billing by the hour, and flat rate, which tends to be a cost-plus version of billing by the hour. 

These two methodologies limit them in terms of how they price in their firm. Coupled with the problem that hourly billing is problematic in that the client doesn't have a price until after the work is done. And if the bill exceeds the value to the client, that's a big problem.

So what we want to talk about today are different pricing methodologies for CPAs. 

Before we started recording, I laid out a couple of options, namely retainer, value-based, contingency and subscription. Jonathan walks us through what those different pricing methodologies look like, what's good to use and what kind of circumstances and why you don't want to use them in certain circumstances and what the risks are.

Download the PDF below for the notes on the different pricing strategies.

Download the PDF: Different Pricing Methodologies for CPAs

https://shethinksbigcoaching.com/111-pdf-download/

Connect with Jonathan:

Website: https://jonathanstark.com/

Episodes mentioned:

081 Time to Rethink Your Pricing Strategy? with Ron Baker, Founder of VeraSage Institute

https://shethinksbigcoaching.com/081

104 How Much Would a CPA Pay for a Kid’s Bike?

https://shethinksbigcoaching.com/104

106 Better Pricing Strategies for Accountants: Stop Billing by the Hour

https://shethinksbigcoaching.com/106

Geraldine Carter on the Ditching Hourly Podcast - The Forensic Bounty Hunter

https://podcast.ditchinghourly.com/episodes/coaching-call-with-geraldine-carter

Book recommendations:

How To Measure Anything: Finding The Value of Intangibles in Business, by Douglas Hubbard

https://hubbardresearch.com/publications/how-to-measure-anything-book/

Implementing Value Pricing: A Radical Business Model for Professional Firms, by Ron Baker

https://www.amazon.com/Implementing-Value-Pricing-Business-Professional/dp/0470584610

Hourly Billing Is Nuts by Jonathan Stark

https://jonathanstark.com/hbin

Upcoming training: 

15 PHRASES TO SCRUB FROM YOUR WEBSITE AND WHAT TO SAY INSTEAD

Thursday, November 19th, 12pm ET  

Download the ebook “6 Simple Steps to Double Your Revenue”

https://shethinksbigcoaching.com/download-double-your-revenue

Schedule time with Geraldine:

https://calendly.com/geraldinecarter/15min

Work with Geraldine:

https://shethinksbigcoaching.com/work-with-me/

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

Today we’re talking about the copy on your website. Because you might be either alienating prospects who visit your website, or not attracting them to begin with. And because of that, you could be missing out on really good revenue. 

 What am I talking about? All kinds of words and phrases that are meaningless at best - and are potentially harmful - and are taking up valuable real estate on your website, and doing nothing to rank in search results when your ideal clients are googling around for someone like you. And when prospects DO make it to your website, they go, mmmm, not THIS CPA. and they bounce.

And you might be thinking to yourself, well, I don’t get most of my business from my website. I get it from word of mouth and referral. So, why bother with my website?

You might be right that website traffic is not a source of leads for you, so why bother… but the other way to think about it is… a lackluster website that doesn’t speak to your prospects is exactly why you get few to no leads from it. 

So let’s take a spin through a bunch of words and phrases I see in use, see what is problematic about these words, and what to say instead:

1. Affordable
2. Experienced, Accurate, Integrity, Trustworthy, Honesty
3. Talking about things that are expected, the bare minimum
4. Full-service, broad range of services, wide range of expertise
5. Small Firm Personality, BIG FIRM CAPABILITY
6. Bizarro Aspirational phrases that mean nothing: 

• THE SKY'S THE LIMIT, Achieve Your Goals
• committed to your success, ensuring success
• We dream big with you
• achieve more than you thought possible

1. Serving our community since the stone age
2. We have established a reputation for excellence, teamwork, community involvement, and a certain alternative character.

Here is what prospects want to see on your website:

You know who they are - specifically - martial art studio owners. Landscapers. Creative agencies. Architects. Etsy shop owners. Women in the stages of divorce, who need to get a handle on their finances.

And an indication you know what those people want:

• Martial art studio owners: what do the numbers need to look like for them to buy the building, or open a second location?
• Landscapers - stop getting paid 60 days after they’ve mowed the lawn, and instead get paid up front, so they can stop chasing cash and instead have enough reserve to make it through the winter months. 
• Contractors - want to stay on top of project costs and know week to week how estimate to actuals are doing. 
• Women in the stages of divorce who need to get a handle on their finances after years of not being in charge of the money.

You need to be able to identify the pain points that are specific to the type of business owner you want to attract, so that they know you understand them. Doing this will not only separate you from the CPA around the corner, but it will get you much farther along the value curve. 

Scrub your website of accurate and honest and we reply to your questions, and instead give your prospects an indication you know who they are, what their struggles are, and what they want.

If you want my eyeballs on your website to see what kind of verbiage needs to be scrubbed and what you can replace it with, sign up for Accountants Anonymous - it’s Nov 19th at 12 ET - and walk away knowing exactly what to say to attract your ideal clients. 

Register at https://shethinksbigcoaching.com

Episode mentioned:

106 Better Pricing Strategies for Accountants: Stop Billing by the Hour

https://shethinksbigcoaching.com/106

Upcoming training: 

15 PHRASES TO SCRUB FROM YOUR WEBSITE AND WHAT TO SAY INSTEAD

Thursday, November 19th, 12pm ET  

Download the ebook “6 Simple Steps to Double Your Revenue”

https://shethinksbigcoaching.com/download-double-your-revenue

Schedule time with Geraldine:

https://calendly.com/geraldinecarter/15min

Work with Geraldine:

https://shethinksbigcoaching.com/work-with-me/

Announcing the *NEW* Client Success Stories podcast: 

https://business-strategy-for-cpas-success-stories.transistor.fm/

👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆