Michelle Long and Sandi Leyva, Author at CPA Trendlines

3 Ways to Work Less and Earn More

Think about the value you’re providing.

By Sandi Leyva and Michelle Long
The Ultimate Accounting Virtual Conference

Let’s talk about three ways to earn more in fewer hours.

MORE SMALL FIRM GROWTH STRATEGIES: When to Turn Over Client Data Files | How to Fire a Client | How to Manage Client Expectations | Trashing the Spreadsheet: Best Practices in Modern Expense Management | 3 Ways to Implement Value Pricing | Building Reputation to Build Your Business | Need More Business? Focus on Referrals

One of the first things you can do is learn more about modern accounting apps. There are so many apps available today that really allow us to work faster and more efficiently, whether it’s for us or our clients. So it’s really important that you keep up with these changes and with technology because there are new apps coming out every single month.
READ MORE →

CLIENT SERVICE OPPORTUNITIES

How to Fire a Client

BONUS: Sample Client Disengagement Letter.

By Sandi Leyva and Michelle Long

How many clients have you fired?

MORE SMALL FIRM GROWTH STRATEGIES: What to Do When a Client Doesn’t Pay | The Dreaded ‘Quick Question’ | How to Handle Referrals – And How Not To | Why Clients Need Dashboards | 3 Ways to Raise Your Prices | Your Existing Clients Are Your Best Leads | Need More Business? Focus on Referrals

Let’s talk about firing a client because sometimes you do need to fire your client. Maybe they’re difficult to work with, or a guy is belligerent and loud and yells, and you don’t want to work for him. Maybe there are ethical issues.
READ MORE →

FEATURED

What to Do When a Client Doesn’t Pay

Ask questions. Negotiate. And be ready to cut your losses.

By Michelle Long and Sandi Leyva

How many times have you been unable to collect from a client?

MORE SMALL FIRM GROWTH STRATEGIES: The Dreaded ‘Quick Question’ | How to Manage Client Expectations | How to Handle Price Sensitivity | How to Handle Referrals – And How Not To | Trashing the Spreadsheet: Best Practices in Modern Expense Management | How to Find Hidden Money for Your Clients | Why Clients Need Dashboards | 3 Ways to Implement Value Pricing | How Small Firms Can Use Value Pricing | 3 Ways to Raise Your Prices | Building Reputation to Build Your Business | 3 Killer Lead Generation Channels | Your Existing Clients Are Your Best Leads | Need More Business? Focus on Referrals

When we asked this question in a poll, 26 percent of you had never gotten stiffed from a client… yet.

That’s good. But a lot of us have gotten stiffed or burned when we’ve not collected money from a client. It’s happened to us.

If you’re one of the smart ones it’s only happened once and never again.

What do we do when there is a billing dispute? First, yes, get paid up front and that’s a good policy.

Let’s talk about some situations where there is a billing dispute. First, if you have a big job and they want you to do some cleanup or catchup work and you estimate it will be a minimum of $2,000, you want them to pay you $1,000 up front before you do the work. If they’re not willing to pay you $1,000 now what makes you think they’ll pay you $2,000 later? Right, so they should be willing to pay some money up front.

PRO Member Exclusive

Increase Fees and Keep (Most of) Your Clients

BONUS: A sample letter you can send clients.

By Sandi Leyva and Michelle Long
The Ultimate Accounting Virtual Conference

When is the last time you increased your fees? Was it the past year, the past one to two years, over three years … or never? If you haven’t, you should.

How do you increase your fees?

Sometimes it’s a sticky situation but you should start setting a policy where you’re going to increase your fees on a regular basis, maybe every year or two. That allows you to avoid having large increases.

If you haven’t increased your rates for five years and you have to go up quite a bit at once that will be harder for the client, but once they get used to an annual or every other year increase and accept it then it’s easier to keep your fees.

BUSY SEASON MANAGEMENT

The Dreaded ‘Quick Question’

Maybe a training session is what’s needed.

By Michelle Long and Sandi Leyva
The Ultimate Accounting Virtual Conference

Let’s talk about how to handle those “quick questions.” How many times do we have clients who say “I just have a quick question” and it’s never a quick answer?

MORE SMALL FIRM GROWTH STRATEGIES: How to Manage Client Expectations | How to Handle Price Sensitivity | How to Handle Referrals – And How Not To | Trashing the Spreadsheet: Best Practices in Modern Expense Management | How to Find Hidden Money for Your Clients | 3 Ways to Implement Value Pricing | How Small Firms Can Use Value Pricing | Building Reputation to Build Your Business | Your Existing Clients Are Your Best Leads | Need More Business? Focus on Referrals

What are we going to do? Are you going to bill? What about the time and effort to track and invoice your clients for those quick questions? What about the questions that are never quick?
READ MORE →

CLIENT SERVICE OPPORTUNITIES

Best Practices for Handling Mistakes

3 steps to take.

By Michelle Long and Sandi Leyva
The Ultimate Accounting Virtual Conference

We’ve all made a mistake. Admit it; we have all made a mistake before. Maybe we missed a deadline or you posted things to the wrong account or overlooked something. What’s a mistake you made before?

MORE SMALL FIRM GROWTH STRATEGIES: How to Manage Client Expectations | How to Handle Price Sensitivity | How to Handle Referrals – And How Not To | Trashing the Spreadsheet: Best Practices in Modern Expense Management | How to Find Hidden Money for Your Clients | Why Clients Need Dashboards | 3 Ways to Implement Value Pricing | How Small Firms Can Use Value Pricing | 3 Ways to Raise Your Prices | Building Reputation to Build Your Business | 3 Killer Lead Generation Channels | Your Existing Clients Are Your Best Leads | Need More Business? Focus on Referrals

The first time I made a mistake I thought the world was going to end. I was devastated and thought my future and having my own firm was over. I’m out of business because I messed something up.
READ MORE →

PRO Member Exclusive

How to Manage Client Expectations

Need data by a certain date? Make it clear what happens when you don’t get it … and what it costs.

By Michelle Long and Sandi Leyva
The Ultimate Accounting Virtual Conference

You’ve accepted a new client and now you have to communicate with that client and set the expectations. So we want to clarify and manage the expectations. We want to make sure we tell the client what information are they supposed to give to us and when, how and in what format. You need to tell the client “I need your receipts to be scanned and input into this folder by the 10^th work day of the month” or every week on Thursday – whatever it is.

MORE SMALL FIRM GROWTH STRATEGIES: How to Handle Price Sensitivity | How to Handle Referrals – And How Not To | Trashing the Spreadsheet: Best Practices in Modern Expense Management | How to Find Hidden Money for Your Clients | Why Clients Need Dashboards | 3 Ways to Implement Value Pricing | How Small Firms Can Use Value Pricing | 3 Ways to Raise Your Prices | Building Reputation to Build Your Business | 3 Killer Lead Generation Channels | Your Existing Clients Are Your Best Leads | Need More Business? Focus on Referrals

So keep in mind when you get a new client you have to spend a little time with them up front training them. It’s like having a new puppy right? You have to train them initially, spend more time with them and hopefully they don’t potty all over the floor. So we have to train our clients, spend more time with them up front and give them very specific information. If you want them to scan and upload documents, then do a remote session and log in and show them how to do it and walk them through it how to do it.
READ MORE →

MARKETING & SALES

How to Choose Clients Right

Questions to ask, plus a welcome letter for those who make the cut.

By Michelle Long and Sandi Leyva
The Ultimate Accounting Virtual Conference

You really need to have confidence when you’re discussing your fees with your clients and realize that you may lose some clients. That’s okay because they’re probably not the kind of client you want to have anyway.

MORE SMALL FIRM GROWTH STRATEGIES: How to Handle Price Sensitivity | How to Handle Referrals – And How Not To | Trashing the Spreadsheet: Best Practices in Modern Expense Management | How to Find Hidden Money for Your Clients | Why Clients Need Dashboards | 3 Ways to Implement Value Pricing | How Small Firms Can Use Value Pricing | 3 Ways to Raise Your Prices | Building Reputation to Build Your Business | 3 Killer Lead Generation Channels | Your Existing Clients Are Your Best Leads | Need More Business? Focus on Referrals

I had one conference participant say, “Many ask about price but I now see it as an opportunity to explain the value I can provide.” That’s great, I like it. Someone else suggested saying, “It seems like responding to price is your primary concern.” That puts it back on them to let them explain it and so that’s a good idea as well.
READ MORE →

PRO Member Exclusive

How to Find Hidden Money for Your Clients

Data will lead you to opportunities if you know how to use it.

By Michelle Long and Sandi Leyva

We’re talking about using dashboards to make more money with Mike Milan, the senior vice president of Finagraph.

MORE SMALL FIRM GROWTH STRATEGIES: Why Clients Need Dashboards | 3 Ways to Implement Value Pricing | How Small Firms Can Use Value Pricing | 3 Killer Lead Generation Channels

Mike Milan:

How do I use this dashboard to talk to an individual? Every business may be a little different but you can always start from the same template and then add in or take away.

PRO Member Exclusive

3 Ways to Implement Value Pricing

Where’s your client’s ROI? That’s where you meet.

By Michelle Long and Sandi Leyva
The Ultimate Accounting Virtual Conference

Here are three tips on implementing value pricing.

Focus on one of your services and not all of them.
Focus on the best service you think you have.
What do you think is the most profitable service you have? That would be the one that is right for converting to value pricing.

MORE SMALL FIRM GROWTH STRATEGIES: How Small Firms Can Use Value Pricing | 3 Ways to Raise Your Prices | Building Reputation to Build Your Business | 3 Killer Lead Generation Channels | Your Existing Clients Are Your Best Leads | Need More Business? Focus on Referrals

What I mean by profitable is profitable for your clients and not necessarily profitable for you – although it will be once you move to value pricing, because value pricing is very profitable.

Here’s what you’re looking for: Michelle Long and Sandi Leyva