Tuesday, March 26th, 2019

Discussing Fees

“Price is what you pay. Value is what you get.” – Warren Buffett

I hear stories that have a similar theme:

  • I inherited the firm from a sole proprietor. The clients are just not used to paying what would be a normal fee.
  • I am working so many hours and need to increase my fees. But, I am afraid I will lose too many clients.

I ask, “How do you describe your fees to clients?” What I usually discover is that the CPAs who have such a great fear of losing clients are not actually talking about fees WITH the client, at all. I also learn that CPAs who charge an appropriate fee don’t talk with clients about the fees either.

My friend, Sarah Johnson Dobek of Inovautus Consulting gives us some excellent advice:

  • Initiate the conversation
  • Describe the services you will provide
  • Present your fees with clarity
  • Write it down
  • Don’t be defensive

Read more about each of these points on Sarah’s blog post. Take the time to teach your entire team how to talk about fees with clients.

  • "The price of inaction is far greater than the cost of making a mistake."
  • Meister Eckhart

Leave a Reply