I also woke up when you said "arithmetic break" 🙄😆 Somehow that excited me as when my grade 1 teacher said "You may sit quietly alone with your book & read!" 😅
On certain legacy/problem clients, firm leadership doubled to tripled our fees this year in hopes they’d leave, instead of having to fire them. Not a single one left after the fee increases.
This only works if you are simultaneously cutting staff (or hours if you pay hourly). Your cost of sales doesn’t change, your % margin changes… unless you cut staff. This video should be accompanied by that concept because it seems to need to be part of the conversation.
We raised rates 20-30% this year (because we didn't in the previous year, and tax prep took WAY long). Only 2-3 complaints out of about 450 clients, from seniors on fixed incomes.
Love the charity point. I like to say "make money ruthlessly so you can give generously". But combining those two things just ends up with you doing both poorly.
Best thing we ever did was raise fees. When you look at the bottom line and go “dang, should have done that sooner” and realize how NOT raising fees only hurts yourself, then it clicks. We now move fees up EVERY year to slightly exceed the inflation rate.
That was amazing...and scarily timely. Or is it just that I'm going through this while everyone *else* is at the same time? Thanks Jason! Hope the little one had fun at grandmas. :)
The ironic thing is that it's easy advice to give but hard advice to take as Jason himself elludes too. What woudl happen if Jason came into my practice, and billed all my work to make sure I got paid what I'm worth. It would be easier for him since it's not his clients and I could say "hey I'm not incharge of billing" and I'm sure the average outcome would be great. Then I could returned the favor for him. We would both probably be much happier and more profitable AND feel good for helping out a fellow accountant. Something to think about...
You're worth it! You just have to believe that you are - confidently raise prices. Your knowledge increases every year, every year you get better - raise those prices proudly!
I specialize in Christian Non Profits and I do charge them a lower fee but I am okay with that. I love being a part of the great work they are doing. I do raise all tax fees every year. I don't tell them even. I just send the bill:)
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I rewatch this about every 6 months and send it to those I love and care about in the profession.
One of the most useful videos on youtube. This is a must watch for all CPA's running their own practice. Thanks.
Thank you Jeff!
Love love love this!!! Now to do what I love. Thanks Jason for your continued advice and encouragement!
YOU GOT THIS
OMG THE END WAS SOOOOOOO CUUUTTTEE I couldnt take it! 10:27
I also woke up when you said "arithmetic break" 🙄😆 Somehow that excited me as when my grade 1 teacher said "You may sit quietly alone with your book & read!" 😅
On certain legacy/problem clients, firm leadership doubled to tripled our fees this year in hopes they’d leave, instead of having to fire them.
Not a single one left after the fee increases.
If I had a dollar for every time I've heard this 🎉 Louder for those who haven't subscribed still
This only works if you are simultaneously cutting staff (or hours if you pay hourly). Your cost of sales doesn’t change, your % margin changes… unless you cut staff.
This video should be accompanied by that concept because it seems to need to be part of the conversation.
Well said 👍🏻
J! Stop reading my personal diary! 😂
Right in the oof!
We raised rates 20-30% this year (because we didn't in the previous year, and tax prep took WAY long). Only 2-3 complaints out of about 450 clients, from seniors on fixed incomes.
Thanks buddy. I truly appreciate this video
You got this 🤜🤛
Love the charity point. I like to say "make money ruthlessly so you can give generously". But combining those two things just ends up with you doing both poorly.
Well, that was uncomfortable - I recognized mysef in quite a few of those scenarios. Thanks for shining a light on things I need to remember.
I'm really good at acting like I don't still do all these things
@@jasoncpa Some habits are hard to break. Espcially when we really, truly like a client and/or believe in what they're doing.
New mic sounds great
Did you notice my haircut
@@jasoncpa I noticed that it *always* looks good.
🥰 this is the time of year I think about this and I rarely change. Thank you.
This is excellent! I'm going to watch this once a week. lol
Ouch, that left a mark..... but thank you!
You're the best! I loved this. We ALL need to raise those prices! Geography is no longer an issue. Raise your prices and fire the 1040 only clients!
No u!
Man I'm really glad I found your channel.
😍😍
Best thing we ever did was raise fees. When you look at the bottom line and go “dang, should have done that sooner” and realize how NOT raising fees only hurts yourself, then it clicks.
We now move fees up EVERY year to slightly exceed the inflation rate.
Great video!
That was amazing...and scarily timely. Or is it just that I'm going through this while everyone *else* is at the same time? Thanks Jason! Hope the little one had fun at grandmas. :)
Oof. Hard truths >.
The ironic thing is that it's easy advice to give but hard advice to take as Jason himself elludes too. What woudl happen if Jason came into my practice, and billed all my work to make sure I got paid what I'm worth. It would be easier for him since it's not his clients and I could say "hey I'm not incharge of billing" and I'm sure the average outcome would be great. Then I could returned the favor for him. We would both probably be much happier and more profitable AND feel good for helping out a fellow accountant. Something to think about...
No deal Matthew. Otherwise yes agreed on all points 😁
You're worth it! You just have to believe that you are - confidently raise prices. Your knowledge increases every year, every year you get better - raise those prices proudly!
I specialize in Christian Non Profits and I do charge them a lower fee but I am okay with that. I love being a part of the great work they are doing. I do raise all tax fees every year. I don't tell them even. I just send the bill:)