The Abundant Accountant: Leads, Sales & Business Growth for Accounting, Tax and Bookkeeping Professionals
Episode 149 | Building An Effective Enrollment Process With Bruce Gerstenfeld
Jan 1, 2025
In this engaging discussion, Bruce Gerstenfeld, a CPA with over 20 years of experience, shares his journey of modernizing his father's legacy firm. He candidly discusses the challenges he faced in updating systems and pricing structures while maintaining client loyalty. Bruce emphasizes the importance of transforming firm dynamics and fostering a supportive team culture for growth. He also inspires listeners to conquer self-doubt and embrace community support for achieving financial confidence, making bold changes that can lead to success.
28:35
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Quick takeaways
- Transitioning to a competitive pricing model allowed the firm to enhance profitability while emphasizing the importance of communicating value to clients.
- Implementing a client-focused sales process led to significant improvements in client retention and revenue, doubling the firm's income within a year.
Deep dives
Transforming Pricing Strategies
Transitioning from a low-fee structure to a more competitive pricing model is crucial for accounting firms. A guest realized that the previous average fee of about $250 per tax return was unsustainable and sought to increase it significantly, aiming for a range closer to $1,000. This change not only addressed profitability but also highlighted the importance of communicating value to clients, emphasizing that existing clients could be retained with fewer customers at higher fees. The guest found that understanding the worth of services offered and effectively communicating that value were essential steps in successfully implementing these pricing changes.
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