We’ve all done it I’m sure. We make assumptions about what our clients want, their reasons for asking for advice, the fees they will pay and their motivations in business, explains Mark Lee. But what if we’re wrong?
Why do accountants assume?
The main reason accountants do it I suspect is because we think we’re entitled to make assumptions based on our experience. And, yes, I know I’m making an assumption of my own here. It’s so easy to do.
If you have plenty of experience in practice then you should, almost by definition, know what tends to drive clients.
After all, you have worked with plenty of other clients who have faced similar issues and challenges. You have experienced the reactions of many, many clients to your fee proposals. And you can point to dozens of occasions where your preconceptions and expectations have been matched by reality.
Perhaps you also think that clients expect you to know all the answers and that this requires you to also know why they have asked their questions.
Maybe there are other reasons?
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- The dangers
- Fee limiting
- The lost opportunities
- What can we do?