Accountants just can't say no to new business - but at what cost?
11th Mar 2021
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Many sole practitioners are guilty of taking on new business at any costs. Understandable for a start-up keen to attract business but the trouble is that the mindset continues once they are established and the fee levels have been set, so to speak.
Some new firms have specialist skills or come highly recommended ( not because they are cheap one hopes ) so they are in a position to raise the bar of the type of work and the fees. Differentiation at it bests perhaps.
But what if you are established and are simply not earning the right money? The odds are that you don't even realise there is a problem but simply assume that as you grow you'll prosper more. Not so, if you keep taking on demanding clients who purport to be small and straightforward but are anything but.
So, here's my money back guarantee - tell these types that you can take them on and solve their problems but these are your terms, both in how they should interact with you and the financial commitment they need to make if they really want to be your client.
You won't regret it, in fact you might even thank me.
Henley Business Brokers are independent specialist business brokers and business transfer agents, working collaboratively with accountants, focused on owner managed companies in the Manufacturing, Engineering, Fabrication, Industrial, Distribution, IT and B2B Service sectors, with turnovers of between £0.5 million and £10 million.