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E-Myth – “Why most small businesses don’t work & what to do about it”

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Edmonton Tax Accountant | Benefits Of A Monthly Accounting Fee

The Edmonton tax accountant firm Spurrell and Associates used to bill their clients at an hourly rate, but discovered that this was not the most advantageous billing system that they could use. Instead of billing them hourly, they decided to try out a flat monthly fee for all of their clients in all of the services that their clients needed regardless of what they were. This ended up being extremely beneficial to both their clients as well as their firm for many reasons.

What they discovered when they moved to this billing structure, is that they were actually able to give the clients the services that they needed to succeed, without them rejecting the services because they were afraid to pay for them. This meant that tax planning and business planning was being done for the same flat monthly fee. The reason this was so important for the Edmonton tax accountant to offer at the same rate, is because 50% of all businesses fail in the first five years, and many reasons why they fail are completely avoidable with the proper planning in place. By helping their clients who are struggling to get business plan help, they are able to increase the odds of them succeeding. This helped the clients get exactly what they needed to stay in business, and also created a customer that would be able to return to the accounting firm. Not only were they protecting businesses, they are also protecting their source of income.

Another reason why they found this was extremely beneficial, is because instead of spending so much of their time on billing clients and answering questions about those bills, there able to send out those monthly bills regularly, have no questions on them because every client is going to get the same bill every single month. Which frees up more of their own time to continue to help clients. Edmonton tax accountant found that they were spending two days every month on billing their clients, which equals five weeks a year. There able to significantly cut that and spend five additional weeks every year on serving their customers, marketing their firm and building their team.

What this did to this Edmonton tax accountant was allow them to more easily provide that high level of services by predicting what resources they needed to do that. Because there able to know exactly how much revenue is being brought into their accounting firm every single month, and how many times that they are going to have their clients book appointments every month, Spurrell and Associates are able to know how many more clients there able to take on, and to do so at the same level of service that all of their clients receive. By providing a high quality of service at a predictable monthly bill, makes clients extremely happy with continuing to come to Spurrell and Associates. By ensuring that all of their clients get exactly the products that they need to succeed, and to bill that they can count on every single month, business owners see Spurrell and Associates as a strategic partner in their business.

Edmonton Tax Accountant | Benefits Of A Monthly Accounting Fee

Many Edmonton tax accountant firmís bill their clients hourly, however Spurrell and Associates discovered that this was creating less of a cooperative relationship between them and their clients, and actually created problems because if their clients were struggling, they would not reach out and contact their accountant when they needed it the most. They did this because they were afraid of having to pay a much higher accounting bill than they were able to afford. Which caused clients who need the most help to get the least help. In order to address this difficult situation, Spurrell and Associates decided to change how they build their clients from an hourly bill which is very typical of most accounting firms, and instead move towards a monthly flat fee.

Spurrell and Associates has three different types of clients including unincorporated businesses, annual corporate clients as well as outsourced clients. Carlos of how much service or what the services are that each of these clients need, this Edmonton tax accountant bills them all the exact same flat monthly fee and they bill them every single month. Many people wonder why they end up paying the exact same amount even if they have an extremely different type of service, and the reason for that is because at Spurrell and Associates, they get the exact help that they need to the best degree that they can for the same price. This might mean that in one year some clients are seeing their accountant a large amount, but in other years not so much. By keeping it even, Spurrell and Associates can ensure that not only are they able to count on a steady stream of revenue every month, but their clients are able to get the same bill every single month that they can count on regardless of the services they need.

One of the biggest reasons they found that that was the model that was importance to them was because the businesses that tended to need the most service were the ones that were also struggling the most. To make them pay extra for services that they needed to survive was not going to allow them to sell those services to the clients so that they can be helped. By offering those services at the same rate as everything else, business owners would not have to turn down that help, and get the service that they need in order to succeed in business, which not only help the business become successful, but also help to ensure that they would can you continue to go to this Edmonton tax accountant for all of their services ongoing. This investment into their clients help Spurrell and Associates ensure that they have successful clients moving forward in their business.