Negotiating & Pricing Strategies for Accountants & CPAs - Accounting Influencers Podcast

Episode 122

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Published on:

1st Oct 2020

Negotiating & Pricing Strategies for Accountants & CPAs

Malcolm Smith has a background in science and marketing which gives him unique insights into how businesses negotiate, transact and develop. Today he employs this considerable expertise through a portfolio of non-executive directorships and owned businesses.

He is a keynote lecturer on Leadership, Project Management, Negotiation, Influencing and Consultative Selling at London Business School, Cass Business School, Oxford University SAID Business School and Cambridge University Judge Business School. Shownotes:

  • How accountancy compares to other sectors in commoditising its offering, and what is driving that move
  • The main reason accountants charge by the hour and why they shouldn't
  • How even the revered doctors and general medical practitioners have become commoditised through availability of knowledge
  • Why accounting compliance has become less valued in the eyes of clients
  • The major downside for accountants of becoming commoditised and undifferentiated
  • How advanced tech like AI can allow you to be profitable as a commodity in accounting
  • The dangers of 'proximity bias' that causes accountants to undervalue their skills
  • Tips for accounting firms to expand their core offerings into advising and consulting services
  • An example of what 'proactive brilliance' looks like for an accountant
  • The best way to find out what your 'value-adds' are as an accounting firm
  • The benefits of asking your clients why they choose you and building your accounting firm's proposition around the answers
  • The three value disciplines in a professional firm that allow you to charge premium fees
  • The biggest cost in running an accounting firm, and why your fees need to reflect that
  • The big mistake poor negotiators make when handling fee conversations with their accounting clients or prospects
  • Why non-F2F negotiation is more difficult than being in the same room as people
  • The biggest issue for accountants when negotiating on video platforms like zoom
  • The importance of the 'opening position' for accountants when negotiating deals and setting fees
  • The dangers of using 'round numbers' when setting and negotiating your accounting or consulting fees
  • Negotiation tips for accounting firms, especially in a virtual, non-F2F world
  • The problem many accountants make in giving away unilateral concessions in negotiations
  • How accounting professionals can get much better and more confident in handling common sales objections
  • Why accountants should always quote money rather than hours for a particular job or service
  • The importance for accountants to never invoice the negotiated amount.

Malcolm Smith on the Accounting Influencers podcast with BD Academy founder Rob Brown

Malcolm was Speaker of the Year for Vistage International in 2007, 2011 and 2015 and has won the Outperformer Award every year since 2004. He scored the last goal ever at Eastville Stadium, Bristol UK) before it became an IKEA store. Contact him here:

Website and blog

LinkedIn

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About the Podcast

Accounting Influencers Podcast
Host Rob Brown shows accounting professionals and leaders how to be more influential, grow their personal brand and be more authoritative, relevant and high profile in their roles..
The Accounting Influencers Podcast, hosted by Rob Brown, is a must-listen for accounting professionals looking to strengthen their leadership presence, stay informed on disruptive forces in accounting and build credibility within their firms. Geared toward firm leaders, managers, partners and influencers, the show covers key topics like career development, influence, personal branding and interpreting the evolving trends impacting the accounting world. Rob brings his expertise to each episode, offering insights and guidance on how to grow your personal brand and stay strategically important in a rapidly changing profession. Whether you're aiming to influence within your firm or expand your reputation outside of it, this international podcast offers practical advice and forward-thinking insights that will keep you informed and prepared for the future.
Accounting leadership
Executive presence for accountants
Building influence in accounting
Accounting industry trends
Personal branding for accountants
Accounting firm strategy
Accounting business models
Leadership in accounting firms
Talent management in accounting
Authority in accounting profession
Career development for accountants
Accounting firm growth strategies
Influencers in accounting
Accounting firm management
Disruptive forces in accounting
Accounting leadership strategies
Accounting career success
Accounting firm decision-makers
Accounting business trends
Building credibility in accounting

About your host

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Rob Brown

Rob Brown hosts the multiple accounting podcast and chair conferences, panels and events globally for the accounting and fintech profession. He is co-founder of Accounting Influencers Roundtable (AIR) which helps vendors, experts and influencers serve the accounting and finance world. He is a dynamic speaker and accomplished expert on trust, reputation, employer brand, talent, career development, succession, gen z/generations, employee advocacy and executive presence. Rob is author of the bestselling book Build Your Reputation (Wiley) and his TEDx talk ‘The Personal Brand of You’ has been viewed 400,000 times on YouTube. He is a stroke survivor, has epilepsy, is a committed Christian and has a black belt in kickboxing. He is based in Nottingham UK, home of Robin Hood, plays chess and backgammon, loves orange chocolate and is allergic to grapefruit.