Cross-Selling Beyond Your Comfort Zone

Three people having discussion at table over document and water glassesBenefit your clients and yourself.

By Ed Mendlowitz
Call Me Before You Do Anything: The Art of Accounting

In my practice I have always tried to generate additional revenue from existing clients.

MORE: How Auditing Is Like a Pirouette | Upselling Made Painless | Boosting a Fixed Fee Substantially | Creative Ways to Retain Staff | What CPAs Can Learn from Lawyers and Doctors | My Top 10(ish) Regrets | My ‘Brand’ Is the Exciting History of Accounting | What’s Your Negotiating Style?
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It was much easier than searching for new clients. It was also fun because I had an attentive audience when I spoke, and it gave me the satisfaction of helping a client.
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How Auditing Is Like a Pirouette

ballet dancer performing a pirouetteThe key: focus.

By Ed Mendlowitz
Call Me Before You Do Anything: The Art of Accounting

An auditor’s mindset distinguishes a great accountant from an average one.

MORE: Upselling Made Painless | A Test of Concentration | Staff May Surprise You with Leadership | When Pushing the Pencil Pays Off | I Used to Hate QuickBooks | Why We ‘Kill’ to Get Partnership Returns Out Quickly
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The mindset involves really looking at items and not just checking them off. Believe it or not, I developed this by watching ballet.
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Upselling Made Painless

You can do it in a way that makes your clients grateful.

By Ed Mendlowitz
Call Me Before You Do Anything: The Art of Accounting

My car had a recall notice and I had to bring it in.

MORE: Boosting a Fixed Fee Substantially | Creative Ways to Retain Staff | Social Security Is an Asset Class | What’s Your Negotiating Style? | How to Make Your Own Opportunities
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When I made the appointment, I was told to call the afternoon before to make sure they had the part in stock. Annoying, but I did and I was told they had it for me.
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A Test of Concentration

Not so focused after all.

By Ed Mendlowitz
Call Me Before You Do Anything: The Art of Accounting

Before COVID-19, much of an accountant’s work was done at the client’s premises. However, whenever we are there, it is an intrusion on their routine.

MORE: Boosting a Fixed Fee Substantially | Value Pricing in Uncharted Waters | I Am an Accountant Because of Clients like Stanley | Advising Cheapskates | Getting Bonuses from Clients | Be an Accountant, Not a Salesperson for Other Things | When Clients Don’t Know
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We need to remember we are guests and should remain “out of sight.” Well, let me tell you what happened early on in my career.
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¿Que Es Bookkeeping?

man writing in notebookDo you think it matters?

By Ed Mendlowitz
Call Me Before You Do Anything: The Art of Accounting

Nobody knows bookkeeping anymore.

MORE: Boosting a Fixed Fee Substantially | Value Pricing in Uncharted Waters | Advising Cheapskates | Why You’re Only as Good as Your Staff | Why We Train on Excel, Word and Adobe | Stop Pricing by the Hour | Getting by Giving Back | Growing with a Client

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Bookkeeping is done by every business, but it often seems completely automated. The transactions flow to where they need to, generating sales reports and backup schedules, financial statements, bank reconciliations, invoices and automatic bill payment. But no one seems to understand how this is done and the significance. Question: Does this matter?
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Boosting a Fixed Fee Substantially

More work = more pay.

By Ed Mendlowitz
Call Me Before You Do Anything: The Art of Accounting

Most of my clients, large and small, have always been on fixed annual fees, payable monthly.

MORE: Value Pricing in Uncharted Waters | Testifying Before Congress | Underpaying Others Hurts You, Too | My Top 10 Personal Game Changers | Yes, Christopher Columbus Had an Accountant | 10 Reasons for My Success | When the Kids Don’t Want to Take Over | Staff May Surprise You with Leadership
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Some also allowed for year-end adjustments based on time charges. At the end of each year we usually increased the fees across the board by 5 to 10 percent, depending on circumstances.
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Nine Keys to Success and Growth

Put them to work for you.

By Ed Mendlowitz
Tax Season Opportunity Guide

What is needed for growth and success?

MORE: What Kind of Accountant Are You? | COVID Tests Accountants’ Entrepreneurial Talents | Help Your Clients and Yourself | 9 Overlooked Tax Season Resources | What’s NOT to Like about Tax Season? | Do Your Clients Feel Important?
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All these elements are essential:
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Value Pricing in Uncharted Waters

Businessman sitting on scales with stack of coins in other trayAnd when hourly billing and fixed fees make more sense.

By Ed Mendlowitz
Call Me Before You Do Anything: The Art of Accounting

Equitable is not the same as equivalent.

MORE: Testifying Before Congress | Creative Ways to Retain Staff | What CPAs Can Learn from Lawyers and Doctors | My Top 10(ish) Regrets | Social Security Is an Asset Class | What’s Your Negotiating Style? | How to Make Your Own Opportunities
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I use the word “equitable” because I have charged three completely different fees for the same result. “Equitable” refers to the value delivered and charged to the client. But it’s not “equivalent.” And the difference can determine your pricing strategies.

With many accountants now working in uncharted waters helping clients get through the COVID-19 crisis, the pricing question is especially important.
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What Kind of Accountant Are You?

The six personalities that define you, your business, and your future.

By Ed Mendlowitz
Tax Season Opportunity Guide

Is your practice satisfying?

MORE: COVID Tests Accountants’ Entrepreneurial Talents | Have You Gotten Where You Wanted Yet? | Ask This Before Clients Do | More Services for Your Tax Clients | Can Your Reviewers Answer These 10 Questions?
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Do you like it the way it is, or do you want it to develop and grow? Some people like the way things are and don’t care about change.
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