Fairly often, TaxAssurances meets with new business owners that aren’t sure what to charge their potential client and even more nervous about actually asking for it. After all, they’re new and they don’t want to overcharge and lose the potential client.
It’s always recommended that they research competitors in the industry for guidance. But more importantly, when they’re starting out, tell them to do what’s necessary to get the business and experience. The relationship can be a huge boost in terms of credibility and confidence. As well as in pay.
The best part about this experience has been when the new business owner has that horrible, “ah ha” moment. That moment when they realize they dramatically undervalued themselves and the client got away with murder.
TaxAssurances has its own horror stories. Ten seconds of advice saved a potential client millions in taxes and they never paid for the advice.
Those are breakthrough moments. It’s at that point the new business owner says, “oh, we’re not doing that again.”
So new business owners, just do what’s necessary to get as close as possible to what you should charge, but look to do the business. Over time, you’ll figure out what to charge and stand firm on it.
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