Improving Your Client Pricing, Billing and Collection Techniques
Near and dear to every practitioner, besides performing great service, is getting paid. This seminar will show you how to determine fees for the myriad services you perform and when to use different rates, when and how to increase fees for long time clients stuck in a fee range, charge for extras and overcome the scope creep of freebies, and the best time to bill and ask for payment. We will also cover explaining what you’ve done in the terms of benefit and value to the client so you get paid what you should. Twelve billing methods (including reverse value billing), the use of a fee schedule and strategic use of engagement letters will also be discussed with sample engagement letter language. Also covered will be the mathematics of increasing or not increasing fees, determining costs and realization and how to use the time sheet as an effective management tool. Planting seeds for cross selling opportunities will also be illustrated as will the use of the Ed Mendlowitz 1/20th rule for additional services from existing clients.
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- Ways to identify special pricing and billing issues when they occur
- Improving communication with clients about the value and efforts that go into what you provide them
- Charging the Right Fees at the Right Time for the Right Work
Who Should Attend:
Firm partners, senior managers and administrators.
Instructor: Edward Mendlowitz, CPA, ABV, CFF, PFS - Partner, WithumSmith+Brown
Instructional Method: Group-Internet
NASBA Field of Study: Practice Management
Program Prerequisites: None
Advance Preparation: None