Don't Be Afraid to Have the Fee Conversation
Source: Solutions for CPA Firm Leaders
The following is a complete reprint, reproduced with permission, of a blog post by Rita Keller.
For the many years I worked inside a growing CPA firm, I was often amazed at how little many partners talk about fees with their clients.
I believe you talk about it, face-to-face and in depth, when you bring on a new client. Don't just put it in the engagement letter and assume the client has no questions. Explain openly how it works at your firm. (It doesn't work the same way at all CPA firms.) Then, have the fee discussion at least once a year before the engagement begins. The client is wondering but often is not proactive in asking.
Steve Erickson [ http://www.steveericksonllc.com ] has a great blog post entitled Talk to Your Clients about Your Fees and recommends:
- Stop quoting fee ranges.
- Initiate the conversation about fees with all of your clients.
- Negotiate the scope of work, not your fees.
- Use scheduled billing techniques.
- Call before sending an unexpected bill.
Read Steve's descriptions about each of the five.
For the original post, read “Talking About Fees With Your Clients.”
From Solutions for CPA Firm Leaders, the blog of Rita Keller. Visit http://ritakeller.com/blog/.