We believe it’s important to maintain fair pricing and treat people with respect. While we do have some leverage in the market, it doesn’t justify taking advantage of others or engaging in dishonest practices.
Currently, our industry, like many others, is facing capacity challenges. Therefore, we need to be selective about the clients we work with and ensure that we charge appropriately for our services.
At Inspire, we prioritise fairness in our pricing. We invest a significant amount of time internally, including coaching sessions, to help our team navigate these conversations and truly understand the value we provide. Even before meeting with a client, we reflect on the key moments we have been there for them in the past few years. This ensures that the price we propose is reasonable and aligned with the value we bring.
If a client doesn’t accept our price, we are okay with that. We strive to detach ourselves from the outcome and respect their decision. On the other hand, if they do accept it, we are equally content. Most of the conversations our team has had with their clients result in a simple and unexpected agreement, which feels like a normal, friendly exchange.
Overall, our approach is centered around fairness, understanding, and maintaining positive relationships with our clients.
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We’ve never taken repricing for our clients so seriously this year.
There’s a big reason for that. Our costs have been skyrocketing due to increasing wages, fluctuating exchange rates, and rising subscription fees over the past few years. Not only that, but we’ve noticed a few others in the industry raising their prices too
If we don’t adjust our prices for that, we will be taking a pay cut.
If we stick to our current prices while our costs keep going up, our profit margin will either vanish or turn into losses, which we don’t think any of us would want at all.
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One of our secret weapons for our growth is none other than workshops and webinars! 🚀
These interactive online and in-person sessions have been an absolute game-changer for us.
Our clients have gained invaluable knowledge, profound insights, and essential skills through these sessions, resulting in an organic boost to our growth.
From 2020 to 2022, we have successfully delivered 76 sessions with over 2000 attendees.
If you’re looking for a turbo boost in your growth and sales, we highly recommend giving virtual engagements a try. 🙌
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From April 2020 to June 2022, this timeframe was coined as “Inspire 3.0” which marked the period of transition where Ben Walker became the sole owner of Inspire.
His primary objective during this period was to mentor and elevate three Senior Accountants to the positions of partners and senior managers. The ultimate goal was for them to independently manage their own teams and clients without Ben’s direct involvement.
Over the course of these two and a half years, these accountants were able to significantly boost the company’s revenue, taking it from $1,650,000 to nearly $3,000,000. This marked a substantial growth and success for Inspire under Ben’s leadership and mentorship.
Discover your firm’s performance score and identify opportunities of low-hanging fruit to increase your firm’s profit, value and overall enjoyment as the owner of the accounting firm.
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Ben Walker, Founder of Inspire Accountants and High-Performance Accountants shares about learning from his expensive marketing mistakes.
Here’s what he said on the recent ‘Creating a High Performing Accounting Firm’ webinar –
Marketing, this is an expensive one but one that definitely helps with growth.
There are problems at different stages.
Inspire 1.0
I relied on word of mouth only. I had a limited audience, which was my own network and also a limited track record. I remember I was 23 years old, I was sitting with clients who were in their forties, sometimes fifties, and sometimes I was taken as a bit of a joke. So, it took me a couple of years to build a track record and to be okay with being pretty young at the time as well.
And the other thing that I struggled with was having just not much marketing budget. I had to do a lot of things. I chose to do a lot of things myself. I learned digital marketing by doing courses and studying and getting coaching.
Inspire 2.0
I had a core group of clients and they were starting to refer clients, that was a great point. I remember that the magic number was about 12. So, once I had hit 12 clients, they started to come from that client base.
My marketing was reactive when I ran out of leads or had gaps in capacity, burning through cash with a high cost to reach new people. We were doing events in our event space. We were flying to Brisbane, Sydney, and Melbourne.
In Inspire 2.0, we were spending tens of thousands of dollars on Facebook ads and room hire and flights. Our marketing was focused on us as a firm, not the client themselves and it came across as a bit salesy at times.
Inspire 3.0
The marketing results are capped by the investment you give in time, team, and resources. So, a good bunch of my time in Inspire was actually spent in marketing. We’ve got Roze, who’s our full-time Marketing Manager and we’ve got two Assistants, Tey and Rons. And also Glaze, my Executive Assistant, does help out with coordination and a few bits and pieces with marketing as well.
We now know that social media is one of the most powerful tools to not only increase your firm’s brand recognition and trustworthiness, but as a lead generation strategy to build your client base. Download this FREE marketing plan and implement the strategies to your firm today.
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Are you constantly chasing your tail with work – never meeting ATO due dates, clients blowing up wondering where their job is at and always needing to work crazy hours to keep up?
Things that helped:
At Inspire, we have HPIs for every team member. HPI stands for High Performance Indicator, not KPIs. Every team member has at least one number that they are reporting on every week – which has been one of the ways we’ve replaced timesheets, is by having HPIs.
Additionally, being a master of project management, diving deep into what technology is needed for the firm as well as weekly team training has been extremely beneficial.
We also have a dedicated QA (Quality Assurance) – he’s our go to for all technical questions.
Also, our Q&A is incharge of training the team every week and manages their team planning.
Indeed, having a dedicated QA has absolutely changed the game when it comes to reviewing. He doesn’t manage clients directly, so wearing more than one hat at a certain size is no longer beneficial for that person in terms of their own enjoyment.
The solution:
As a result, your firm is meeting agreed deadlines, where clients are delighted with your efficiency, proactivity and turnaround. You are rarely involved in preparing or reviewing work.
Discover your firm’s performance score and identify opportunities of low-hanging fruit to increase your firm’s profit, value and overall enjoyment as the owner of the accounting firm.
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Creating a marketing machine is beneficial as it generates high-quality leads each week that fall within your target audience. It also aids in building relationships with prospects through education and value well before they become clients.
In terms of assets, having a marketing plan and a good marketing calendar is crucial so you can map out events, social posts and the overall finish of it. Creating a marketing machine is a game changer.
To bring your marketing into the current era, branding, websites and the way you come across digitally all play a massive role in success.
In the accounting industry, you have to be okay with speaking in front of a camera or in front of people, but these can all be used to generate content from the backend. It saves time if content is able to be captured upfront. On top of that, when you have a team behind you, posts, videos and blogs are all able to be delegated to them.
We now know that social media is one of the most powerful tools to not only increase your firm’s brand recognition and trustworthiness, but as a lead generation strategy to build your client base. Download this FREE marketing plan and implement the strategies to your firm today.
Grow a fun, super rewarding accounting firm that runs like clockwork. We help accountants go from feeling burnt out, working way too many hours, making an average profit and struggling to grow.
