Edmonton Tax Accountant | How Accounting Monthly Fees Work
One of the most beneficial things that Edmonton tax accountant and Burrell and Associates ever did for their clients as well as for themselves, is to switch their hourly billing schedule to a flat monthly fee. The reason why they did this, was so that they could more significantly help entrepreneurs who needed extra services for their business to thrive, however they were not able to pay for that service upfront. By switching all of our clients to a flat monthly fee, not only could spell and Associates significantly help entrepreneurs who were struggling to beat the odds that 50% of all entrepreneurs fail in the first five years of business, but also, that allow them to be able to anticipate how much revenue they were going to get in their business every single month, which allowed them to plan out how they were able to help their clients.
How this Edmonton tax accountant firm actually did this, is ensure that all three of their clients were on a flat monthly fee. Regardless of the type of clients that they were, what are they were unincorporated businesses that needed tax advice and business planning, or if they were corporate clients that needed fiscal year ends completed and filed in addition to tax planning and business planning, or if they were outsourced clients that acted as companies accounting departments doing their payables and payroll as well as strategizing on a monthly basis. Regardless of what type of business they were or how much they needed every single month in terms of service, they all got build same flat monthly fee.
This enabled them to completely even the playing field no matter how much they needed, in terms of services. This allowed entrepreneurs to be able to not have to choose between getting the service they need in order to succeed in business and having an invoice they could afford to pay with this Edmonton Tax Accountant.
What this allowed the Edmonton tax accountant to be able to do, is to invest on the future of their clients, helping them be more successful in business, so that they were able to continue to return to them as an accountant customer year after year. By investing that time and those clients, they can ensure that they were creating a system that they could use every single year in order to have clients that were also invested in their long-term potential. After the first year, the the work that they had to put into each client is merely updating information, and to continue to provide the service that their clients are used to.
By significantly impacting the businesses of their clients, spell and Associates are able to ensure their clients are getting the services that they need in order to succeed and grow their business, all at a bill that they can plan on month after month. By doing that, they not only impacted their clients businesses, they were able to significantly free of the amount of time that they had in their business as well as create a predictable income for their office, they can use for office planning so they know how many more clients they can bring on board and help.
Edmonton Tax Accountant | How Accounting Monthly Fees Work
One of the ways that this Edmonton tax accountant want to impact the businesses of their clients, is by increasing the rate of success of Canadian entrepreneurs. Since 50% of all businesses fail in the first five years, Sperling Associates wanted to significantly increase that number, because the reasons why entrepreneurs tend to fail can be avoided with the business plan. By getting rid of their hourly billing, they were able to create a more supportive environment for their clients, where they are able to give them the help they need to succeed in business. What they had discovered with a hourly billing rate, is that it contributed to animosity on behalf of client towards their accounting firm, because clients would not want to reach out and connect with them if they had any problems, because they were scared of getting a larger accounting bill than they could pay for.
There are several things that they took into consideration when creating this flat monthly fee to help clients. The first thing that they wanted to ensure of, was that regardless of the services that their clients needed, they would all p same price. Because of this, this Edmonton tax accountant did not want to charge any extra for business plans nor do they want to charge extra for tax plans or financial plans as well. The reason for this is because the clients that needed the most amount of help in terms of financial plans were business plans, or also the exact clients that would be less likely to be able to pay for those services. In order to actually impact their clients businesses, they had to ensure that fee was not a barrier to the services.
This started to move the relationship between clients and their Edmonton tax accountant firm towards a more collaborative and strategic partnership. By not charging their clients any additional fees regardless of how many times they called, or had meetings, or what services they needed, that created an environment where clients reached out to them more often. Since they were able to get whatever services they needed in order to succeed, they saw all of the suggestions and help that their accountant was giving them as truly help instead of trying to upsell a service.
Not only were they able to start helping clients that traditionally would not be able to get help because they could not afford it, and impacting their clients businesses, but this Edmonton tax accountant also saw that they saw significant changes in their business as well. The time that they had previously been spending on creating billing, sending it out and answering questions, was up to five weeks every single year that was now spent on continuing to serve clients at an extremely high level.