How to Increase Your Revenue with Existing Clients

Start with ClientsThey already know you, like you, and trust you.  You already have their permission to help them with their business. You already have all the information you need to run a report as their accountant.

If you want BizBench to pay, make a commitment to simply run a report for every client who operates a business.  Start with the clients most open to your direction, and move down your client list and you’ll find ways to increase your revenues from your current clients alone by thousands of dollars within your 1-year BizBench subscription.

The process is as simple as 1-2-3-4-5!


 City Cycle Detail 2014 Cover1. Run the Report

Since you already have the information you need to run a BizBench Report for your client, JUST DO IT.  If you’ve got 12 months worth of income statement data and their latest balance sheet, JUST DO IT.  It will only take a few minutes and will usually reveal things about your clients you did not already know.

Identify their strengths and weaknesses, and particularly look for any areas of deep concern.  Most BizBench reports contain at least a few areas where they are significantly below their industry standard.  If they are doing well and are close to, or have already achieved 90th percentile in ROA, you have additional opportunities to submit them for the BizBench Top 10% Award.


 Business man telephone2. Arrange the Appointment

Once you have an understanding of where they need the most help, and have the greatest opportunity, give them a call.  Announce that you have recently implemented a new industry benchmarking and analysis tool, and as a courtesy ran a summary report for them for free.

Let them know that you’ve confirmed some real successes for them, but that you also have some areas of concern you need to discuss with them at their earliest convenience.  No charge.


 BizBench Banner 13. Present the Problems

When you meet with them, give them an overview of the summary report.  Begin with any areas where they are above industry standard.  Congratulate them for their success in these areas.  Explore some opportunities to take things to the next level in these areas.

Then focus on those areas in the report where they are below industry standard, particularly where they have the lowest scores.  Let them know that when you noticed these areas you felt a responsibility to get with them, let them know about them. and offer help to get them corrected and back on track.   The report and graphic evidence of their problem will give your concern the credibility and sincerity it deserves.


72524044. Outline the Opportunities

When you feel they have accepted your diagnosis and want to improve, outline the opportunities for growth and propose two or three options to work together to resolve the problems and get their business back on track or elevated to the Top 10% in their NAICS code.  Include any of the following options or any others you create that may be more appropriate for you and your client:

  1. Offer to prepare for them a full Detailed Report for only $195 (or whatever you feel is appropriate win/win for both of you), They can work through the report themselves and you’ll be happy to provide any answers.
  2. Offer to provide the Detailed Report and include your personal one-time one or two hour consultation for only $395 (or whatever you feel is appropriate).
  3. Offer to provide the Detailed Report, an initial consultation, and ongoing consultation each month for a slight increase in their monthly fee of $100 (or whatever you feel is the best win/win), until you can guide them into the Top 10% of their industry.

 25744939_m5. Confirm and Commit

After they have selected the option that best suits them, make sure to confirm the next step.  When and where will you meet?  What will you discuss?  How often will you meet, if long term engagement is accepted?   When and how much will they pay you for your help?

 


As you may already know, this approach will probably not work with ALL your clients.  But if you offer it as outlined above to ALL your clients, enough of them will accept one of your options, and you will have increased your income from your current clientele alone by hundreds, if not thousands of dollars.

Other Ideas

There are many other ways to creatively market this to your clients:

  • Hold a seminar and invite all your clients to attend for a fee or even for free.  Prepare a summary report for each of them and go over the KPIs and strut your stuff.  We even have PowerPoint webinar and seminar presentations that you can brand and present.   Make the same “next step” offers that you would if you were going to meet with each of them separately.
  • You will have a powerful quantifiable, specific goal with your clients if you can get them to catch the vision of achieving and being awarded for leading their industry in the Top 10% of their industry!
  • Hold a lunch for your clients where you make the challenge to them of achieving Top 10% status.  Offer them a free Summary Report and consultation if they’d like to make a long term consulting plan with you to get there.
  • What other ideas can you come up with?   You may be able to teach us a thing or two!

You have a full year to make it most profitable for you.  And we are here the entire year to help coach you support you in how to make it happen!

Let’s get you started with BizBench so you can start increasing your income by guiding your clients into the top 10% of their industry!

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