Mark Lee interviews sales trainer Marcus Cauchi, who shares his insights about the mistakes accountants make when quoting fees and making sales.
ML: Marcus, I’ve heard you speak many times and you’re always saying ‘It’s not about the money’. Can you explain what this means in the context of accountants winning new clients?
MC: That's easy. Most accountants start by feeling uncomfortable asking for full fees for fear of losing the job.
They believe it's about the money. It isn't. So they discount the fees they really want to earn from new clients and then when they have the account they don't recover fees for all the hours worked. Often in excess of 40% of the hours are never billed.
ML: Why do you think they do this?
MC: Accountants are most often comfortable as technicians. They crunch numbers, save tax, audit accounts, advise. But when it comes to selling they have a mental block towards selling so they tend to explain why they are the best fit for the prospect instead of finding out the prospects reasons for wanting to buy from them now.
They explain how well established they are and how experienced their people are and then they try and buy the business by undercutting the incumbent's fees or the fees being quoted by other accountants. What they forget is that it's never about the money in a real selling situation.
Marcus Cauchi is a big bloke who has a proven track record of educating professionals and sales teams to adopt the counter-intuitive sales strategies devised by David Sandler. Marcus can be contacted through his website: www.london1.sandler.com by email [email protected] or on 07515 0937221
Mark Lee is consultant practice editor of AccountingWEB and writes the BookMarkLee blog for accountants who want to overcome the stereotype of the boring accountant – in practice, online and in life. He is also chairman of the Tax Advice Network of independent tax experts
About Mark Lee
Mark Lee works almost exclusively with savvy sole practitioners who want more out of their practice. More clients, more money, more time, more satisfaction - or everything!
An accountant by profession, Mark moved away from the provision of professional advice in 2006. He is now a professional speaker, mentor, facilitator, author and debunker.
Mark Lee is a realist and regularly debunks myths and hype related to his areas of interest and expertise. His keynote talk for audiences of accountants is How to STAND OUT and be more than 'just another accountant'.
Mark is passionate about helping accountants generally so is a keen blogger and commentator in the accounting and tax press. He is consultant practice editor of AccountingWEB and has written hudnreds of articles here that have been viewed over a million times.
Check out how he could help you here: www.BookMarkLee.co.uk/savvy
Mark stopped giving tax advice himself despite being a past Chairman of the Chartered Accountants’ Tax Faculty. He is however Chairman of the Tax Advice Network - the UK's highest ranked lead generation website for tax advisers and accountants. The network also publishes a weekly practical tax update for accountants in general practice and full tax support, on demand too. You can also use it as a lead generation resource for local people seeking tax advice from an accountant.