Episode 22: Getting paid by our clients in the time of COVID-19, with Bruce Coombes
In this episode, Sam has a brilliant conversation with Bruce Coombes, the CEO of QuickFee. This is a very uncertain time but it's also a time of great opportunity for accountants and business advisors to really serve their clients. The value and power of conversation with your clients right now is so important, but you also need to get paid. Bruce shares his tips for accountants and business advisors right now to make sure you can look after you and your clients.
Here at Blueprint HQ, we are here to help. We are super passionate about the accounting industry and supporting you with what you need.
We are offering 20 minute reach out calls to help support you during this time - click here to book.
What we cover in this episode
The uncertainties and opportunities for accountants and business advisors at this time
Why our industry must focus on looking after ourselves now more than ever
Helping our clients pay for our services
Taking a good look at how we manage debtors going forwards
Helping clients pay for advice and solutions for managing financials, getting data to banks, apply for JobKeeper etc.
The importance of structures around fixed fee and upfront pricing in times like these
Knowing how to position the conversation about the value of your work
The power of the phone call and the conversations to have with your clients now
Tips for managing the workload around the general advice
Why you definitely need to be charging for advice right now
Watch the podcast
Quotes
“Back in a previous life, a life probably just four weeks ago, when we were all allowed to fly, anybody who heard a safety demonstration would have known they said fit your oxygen mask before you try to help others. And I think it's very important for our profession to be looking after ourselves now so we are there for the long term, to pay our staff and help our clients, not just today but for the long term.” ~ Bruce
“I don't think going forward anyone debates that there's going to be a revenue issue or a pricing or value issue. The issue is, how do we help our clients pay for our services? And also, how do we actually look at the debtors that we have coming in…what are some of the options that we might be able to do [regarding debtors]? Because it's important for us to make sure that the cash is coming in because there's not going to come in in the regular basis that it used to.” ~ Sam
“If you've got debtors today, people are not thinking, ‘Oh, the first thing I've got to do with the limited amount of money I've got is pay my accountant. You've got to be offering a fee funding solution, you got to be offering a QuickFee payment plan, so people can pay you, so you can keep providing the advice that you and your team are giving, which is vital for these SMEs.” ~ Bruce
“The [up front pricing] conversation are not hard but one of the great hurdles is just your own fear. Most sellers of something, whether it's a product or a service, are more scared of the price than the buyer is.” ~ Bruce
“For accountants right now, we are maybe the only people that people can speak safely to about [the troubles they’re having in business during Covid-19]. But we are finding that conversation about just checking in to find out how people are is super important right now, because they can't do that with their employees, they might not necessarily have the partners [to talk to] and we are people that they will talk to regularly.” ~ Sam
“If you're not charging your clients, psychologically, you won't be doing your best work. And we all know the most expensive thing you can buy is cheap advice…It’s not mercenary to be paid to help.” ~ Bruce
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