Tag: client relationship

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The hidden costs of being too helpful to clients 

Here at Minerva Accountants we are fortunate to have the best clients. This is a deliberate strategy on my part as I feel that we do our best work for people we like. I often put down the phone after a call and think ‘that’s my favourite client!’ 

The downside of dealing with such wonderful business owners is that we have to remind ourselves not to be too helpful. 

  • Over-servicing and scope creep – while we include telephone support in most of our packages it’s easy to do too much. Much as I love my work I’m running a business and not a charity so it’s important to charge for extras. If it’s not a quick answer and requires either calculations or research then we book a paid call. 
  • Constantly saying ‘yes’ can have an emotional cost when it becomes hard to set boundaries when you need to say ‘no’ 
  • Giving away too much begins to erode profitability so you need to work extra hours or take on more clients. More clients means not enough time to service the ones that you already have so it’s a lose-lose. 
  • Setting expectations early is important. As in any good improv class the answer is ‘yes, and … ‘ In our case it is ‘yes, and … that will cost £x or £x per hour’ 
  • Clear boundaries improve client relationships. I’ve lost count of the number of times on online forums when accountants close to burnout are complaining about clients who expect them to answer the phone in the evenings or over the weekend. The simple answer is to turn off the phone (or send calls to voice mail) outside of office hours.  

I hope you are setting the right boundaries in your business for your profitability and your health. Good clients won’t push these boundaries. 

If you think you’re over-servicing then contact us for our Over-Servicing Assessment and reclaim your profitability  

Scale up 4 Growth grants are back! 

For businesses with 5-249 employees and where activity and outcomes are delivered within a 50 mile range of UWE Bristol 

https://www.uwe.ac.uk/business/businesses-and-employers/scale-up-4-growth

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We don’t take just anyone

It’s not that we don’t like you. Far from it. We like to serve people where we can provide the most value.

At Hudson Business Advice we only choose clients in certain industries and who have the time, resources, and motivation to implement any agreed actions. We don’t like people to waste their money if they’re not going to do anything. But we also want you to succeed in having the business you first dreamt about as I get my real reward seeing happy business owners with time freedom and financial freedom. (Yes, I do cry real tears of joy when that happens)

At Minerva Accountants we use a lot of automation to operate as efficiently as possible so that clients have up to date management information to make informed business decisions. We can’t provide the sort of service I’d like for people who aren’t tech savvy. We can help them a little bit but will often refer them elsewhere.

Similarly we encourage you to be picky about your own clients so that you can run your business more efficiently without trying to be all things to all men.

Work out who your ideal client is (have a look at your current best clients) and focus on finding more of these by creating valuable content and resources for them.

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Know your client

Lots of client meetings this week. Yes, we need to know our clients for AML but chatting to them usually results in extra work. Sometimes it’s a quick query that can be answered straight away and earn ‘brownie points’ and client loyalty but sometimes it is paying work that earns extra fees.

How often do you speak to your clients?

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Do you carry a condom on a first date?

I don’t know about you but I use social media for networking rather than selling. Like face to face networking I like to take my time to get to know somebody and find out what interests we have in common, exchange a little bit of information about our respective businesses, and to see whether we actually like each other. I’ll then arrange to meet for a coffee if they’re nearby or if we’re going to be at the same business event.

The other form of networking I’ve been doing recently is internet dating and, rightly or wrongly, I follow the same sort of format. I get to know somebody online before meeting up to see whether we get along in real life.

But both forms of networking have pushy people.

Linked In has the annoying people who connect with you only to try and sell you something, or to persuade you to give up your valuable time for a “free” software demo (hint: my time is a limited resource so it has a value). The online dating arena is full of people wanting to promote their “assets” by sending photos or wanting sex before you’ve even met for that first coffee.

Whether in business or dating, timing is everything. Please take your time to get to know people and don’t assume that people want to see the whole package before they have got to know you. A good relationship is worth investing a bit of time up front.