Sign up to save your podcasts
Or
Share Discounting your fee. Is it a valid strategy?
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Discounting your fee. Is it a valid strategy?
We discuss discounting your fee this week.
Discounting your fee as an accountant or bookkeeper can be dangerous.
We'll make it up with quantity we hear you say.
They will tell our friends about us we hear you say.
Well the facts are that if your present net margin is 30% (average), and you give a 10% discount, you need to increase your turnover by 50% to make the same amount of profit. And all they will tell their friends is that you're cheap.
It's far more profitable to work out some marketing strategies or change your service mix that adds value rather than to discount fees for this reason.
Diane (The Bookie aka Bookkeeper) from https://www.directmanagement.com.au and Kane (The Beano aka Accountant) from www.activeoutsourcing.com.au and www.accountancyonline.com.au are professionals practicing who encounter these issues and many more every day.
View all episodes
By Bookie & BeanoWe discuss discounting your fee this week.
Discounting your fee as an accountant or bookkeeper can be dangerous.
We'll make it up with quantity we hear you say.
They will tell our friends about us we hear you say.
Well the facts are that if your present net margin is 30% (average), and you give a 10% discount, you need to increase your turnover by 50% to make the same amount of profit. And all they will tell their friends is that you're cheap.
It's far more profitable to work out some marketing strategies or change your service mix that adds value rather than to discount fees for this reason.
Diane (The Bookie aka Bookkeeper) from https://www.directmanagement.com.au and Kane (The Beano aka Accountant) from www.activeoutsourcing.com.au and www.accountancyonline.com.au are professionals practicing who encounter these issues and many more every day.