⚠️Not aligning your service with what is valuable to the business customer can lead to low profitability and difficulty in selling.
💡Connecting your service to the specific value points for your customer allows you to sell larger retainers and increase your profitability.
📈Practicing a methodical sales process and asking probing questions will help you better understand your prospect's needs and increase your chances of success.
What are some common mistakes that new bookkeeping businesses make?
—Some common mistakes include not aligning their services with what is valuable to the customers, undercharging for their services, and not effectively marketing their business.
How can I increase the profitability of my bookkeeping business?
—By identifying and connecting with the specific value points for your customers, you can sell larger retainers and increase your profitability.
What is a methodical sales process?
—A methodical sales process involves building connections with prospects, asking probing questions to understand their needs, and developing a comprehensive understanding of their business.
How can I better understand my prospects' needs?
—By actively listening, asking open-ended questions, and taking notes during meetings, you can gain a deeper understanding of your prospects' needs.
How can I effectively market my bookkeeping business?
—Effective marketing strategies include identifying your target audience, crafting compelling messaging, and utilizing digital marketing channels such as social media and advertising.
00:00In this video, the speaker shares three massive fails that can hinder the success of new bookkeeping businesses.
02:38The first fail is not aligning your service with what is valuable to the business customer, resulting in low profitability and difficulty in selling.
05:00The second fail involves not connecting your service to the specific value points for your customer, which limits your ability to sell larger retainers and increase profitability.
09:24The third fail is not following a methodical sales process, which prevents you from understanding your prospects' needs and effectively selling your services.
