When Clients Run Out of Cash
If you’ve been a reader of this newsletter for the past year or so, you know that I (perhaps we) have been facing a higher level of client disengagements (i.e. clients firing me/us) due to cashflow concerns. If you’re new, you can catch up here.
When Clients Run Low on Cash
Here’s something I’ve been experimenting with (remember, there’s no failure in experimenting?) as I hear that a client wants to disengage services due to cashflow concerns…
When a current client tells me they need to pause services due to tight cash in the business, I’ve started offering to put them on a “maintenance subscription” for $50/mo. The key words here being “pause services,” which sounds temporary and like they’re not going to find another bookkeeper. They’re going to just let their accounting ride off into the sunset…until it’s tax time.
Here’s what my “maintenance subscription” includes:
Bookkeeping software subscription (which I’m probably already paying for)
A continued “accountant” connection to the subscription
Email access to me, should some random question come up (no different than any other random email I get from non-clients)
Here’s what it doesn’t include:
Any accounting or bookkeeping whatsoever (including auto-categorization from bank rules, which I turn off during this maintenance time)
Me ever looking at your books until you pay me more than the maintenance fee
So what’s the point?
At $50/mo, it’s not about the profit…
Converting a Current Client to a Warm Lead
As some point, before the next tax deadline, they’ll need their books completed and who might be able to easily swoop in to the rescue, because they’re already connected to the account?
Your friendly, neighborhood Spider-Man accountant. 🕸️
In a few months, it might sound like this:
“Hey! I hope you’re doing well. I have space on my calendar in the next two weeks and see that your QBO needs to be finished up before tax time. I’d be happy to quote you a price on the clean up, if you’re interested in getting this knocked out quickly. Let me know!”
At that point, their choice is - go with the person they’ve worked with before, whom they trust and already has a connection into their QBO account OR go shopping for someone to clean up their QBO…during the heat of tax season. 🥴
Will it work? I don’t know yet, but it feels promising and like a good way to nurture a relationship I want to keep. This isn’t about scaling or making millions. It’s about helping people I like in a way that makes sense for them.
Keeping good clients close is always cheaper and faster than finding new ones.
Hope this helps,
Erica
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