How to Grow Your Fees 31% in a Year
The ten fastest growing accounting practices in the Success Tax Professionals group increased their fees by an average 31% for the 2019 financial year.
We asked them how they achieved these results. This is what they had to say:
- ‘My booking system is online and automated so clients can book anytime and anywhere,’ Kervin Kupp (Carlisle, WA).
- ‘Positioning myself as a tax planning expert – business clients like to feel/know they are dealing with an expert in the field where value can be generated for them,’ Unni Ashok (Nundah, QLD).
- ‘Before the end of financial year, we always send reminder letters, email and SMS to our existing clients – the results are amazing,’ Andy Asiandi (Payneham, SA).
- ‘Hold free seminars for small business owners, migrants and property investors,’ Stella Leong and Mike Ng (Burswood, WA).
- ‘I take time with my clients to discuss their tax issues and ensure they have a good understanding of their deduction entitlements, benchmarking for small business, and other reportable issues,’ Sonia Morasutti (Exmouth, WA).’
- ‘I refer them to other services if they need them, e.g. depreciation report or financial advice,’ Nina Wilkinson (Kelmscott, WA).
- ‘I build relationships with migration agents and mortgage brokers and we refer clients to each other,’ Brian Chung (Applecross, WA).
- ‘I extend my office opening hours from 8am to 7pm weekdays and a few hours during the weekend,’ Nishan Senaratne (Kewdale, WA)
- ‘I have most clients on a phone app and they love it as it helps them maintain their receipts through a digital recording system,’ Kervin Kupp (Carlisle, WA).
- ‘I incorporate tax planning fees into fees for all business clients -around $500 per client p/a. As the value and time spent on tax planning/business advisory services are worth a lot more to the client, over time this will increase to $1,000 per client p/a (in addition to standard compliance work),’ Unni Ashok (Nundah, QLD).