How would you handle this one.

How would you handle this one.

Didn't find your answer?

I have a one off request from a potential new client who wants some additional advice  his current bookkeeper/accountant admits

is beyond what he is comfortable doing.

the guy is looking to sell his business and wants to go through a few options about succession planning outright sale etc.

I met him for the initial meeting to collect the information of what outcome he would like etc.

I think I have come up with the answers he needs but unsure of how to play it with him.

if I contact him to say I have the answers to what you want but its going to cost £x for me to tell you.

He may tell me where to go.

If i go and see him and  give him the advice, he could go away and get his existing guy to see it out and he may not agree to my

fee for doing the work.

How would you guys play this.

Replies (4)

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ghm
By TaxTeddy
06th Nov 2014 11:50

First things first

When this happens to me, the first thing I ask myself is "Do I want this work?"

If it's a resounding yes, then I'm prepared to give free info (but not all the answers) to start a dialogue - and see how it pans out.

If I'm ambivalent about the work or the client I give away nothing without a fee. If he walks away, fine - he probably would have done so anyway.

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Stepurhan
By stepurhan
06th Nov 2014 11:54

Requires research

You don't tell him you have come up with the answers. You tell him that you believe you can provide the answers, and that the further research and compiling your findings will cost X.

The problem is you appear to have done the work before ensuring that you will get paid for it.

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avatar
By andy.partridge
06th Nov 2014 14:45

Tangible

I would let him know that I am interested to undertaking the work. I would quote £x for preparing a report that answers the points he raised (and maybe a few more too that he hadn't) and £x for a subsequent meeting to go through it with him.

That way if he is price sensitive I am offering the means to keep the fee lower than it might otherwise be. He also has something tangible if there is any future dispute about the fee or what I did to earn it.

If he isn't interested then hopefully I could consider the research like training in that it could be useful to me and/or another client later.

If you go and just let him know what you found out for him then you deserve to be taken advantage of!

Thanks (1)
Glenn Martin
By Glenn Martin
06th Nov 2014 14:23

Thanks for responses

The business is one I would like to look after as it is a good looking job.

my thinking is that if I do a decent job on this I may get to do accounts work if hi son takes it on or stand a shout with the new owner.

I suspect however that he my have touted this around a few others to gleem as much free info as he can.

at the initial meeting I was vague an said I would come back to him t with a detailed response.

I have not yet prepared a detailed report s not sent a huge amount of time on it.

I think I will get a fee agreed with him for given him the info before I do anything else.

 

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