Fewer clients can lead to more value
Accountants should aim to have less clients, for whom they provide more value for a higher fee, advised the founder of a global accountancy group.
Ric Payne, chief executive of Principa, debated the ideal client-accountant relationship with head of charity Emmaus Bristol, Richard Pendlebury and accountant Paul Scholes during our latest Exact video conversation.
Payne discussed the merits of having specific client selection criteria - the main element of which is working with clients who they can provide value to and in return, the clients recognise the value the accountant is providing.
“When you have that type of relationship - i.e. less clients, more value - as a result you end up building a much more robust client base, have a better life, more engaged team members, happier clients referring you to similar clients,” he said.