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How Two Tax Pros Started Adding High-Value Clients & Increased Their Revenue By 50%

Problems:

  • Getting Their Value
  • Didn’t Have Support to Delegate To
  • Didn’t Know How To Grow Their Firm

Solutions:

  • Put Systems in Place to Delegate
  • Set Up Value Ladder
  • Generate High-Value Leads

Goals:

  • Focus on Business Growth & Development
  • Implement Targeted Marketing 
  • Sign High-Value Clients

 

Ready to retire and turn her attention to her art, Randy Joseph was called back into the tax business by her daughter. Together, they started a tax firm from scratch, and with the help of DreamFirms, have grown into a flourishing business built on proactive tax planning and strategic financial coaching. They started by simply offering invaluable knowledge about stock options and incentives, and now they have high-value clients “crawling out of the woodwork” trying to get in touch with them.  How did they go from treading water to actively adding high-value clients to their firm? That’s what we’re here to unpack.

Keeping Their Heads Above Water

No Time To Focus on Growth

When her boss and former mentor tossed a couple of papers on her desk and told her she needed to learn about incentive stock options, Randy Joseph devoted her entire day to understanding the complex topic. Little did she know, she’d be spending the next chapter of her life using that knowledge to launch her very own practice. Today, she’s joined by her daughter, Deva Hetrick, and together they helm their own tax advisory firm.

We don’t want to be gigantic, but we want to grow a little bit more. And we were just kind of going in circles”

In their own words, neither Randy nor Deva wanted to launch a huge mega-firm. But, they still weren’t quite where they needed to be. Although Deva had experience, learning the ins and outs of advisory was time-consuming, and most days, she didn’t have time.

She was focusing on the new clients and handling all the basic needs and questions that come along with signing new clients. Randy was able to focus on providing the valuable advisory services they were offering but didn’t feel extremely confident in their pricing model. They were making enough money but certainly, this was not the ceiling. Randy and Deva wanted their firm to grow. They were putting in the hours. They had clients. They were devoted to their business, but they still weren’t seeing the results they wanted. They were treading water, and they needed a change.  

And then one day, Deva decided to explore some continuing education options. She stumbled across our Create Your Dream Firm program, and the rest is history….. Or should we say their story?

It’s been this amazing rollercoaster ever since then…”

A Ladder to The Top

Getting Their Worth With A Value Ladder

One of the things holding Deva and Randy back from the success they desired was their pricing model. Although Randy felt fairly confident in their pricing, after beginning the Create Your Dream Firm program, she realized that it could use a little work. In their efforts to get new clients and go above & beyond for their existing clients, Deva and Randy were severely underpricing their services. 

We are over givers and I liked that about us, but we need to be paid for that.”

Together, we worked with Deva and Randy to establish something we refer to as a value ladder. The value ladder acts as a pricing framework, with different packages and offerings for different clients. This allowed Deva to take another step towards a more effective sales process and to began issuing quotes face-to-face, or her in her case camera-to-camera (thank you Zoom). Together, these things gave Deva and Randy confidence in their pricing and value, and gave them the certainty they needed to turn away clients.

“Before your program, that would have been unacceptable to me that I hadn’t converted a higher percentage, but now I learned through you that…if you’re converting higher than that, you’re not pricing high enough.”

Help Wanted

Implementing Systems & Delegating

Another thing holding Deva and Randy back from their dream firm was a lack of help. With Deva handling clients’ day-to-day needs and Randy focusing on providing the bulk of their services, neither one had time to focus on anything else. This meant that marketing and continuing education efforts had to take a back seat and ultimately slowed their growth. But, after hiring a third team member and implementing some of Dream Firm’s systems, things changed drastically.

“We’ve revolutionized our technology, you know what we’re using and it’s just, I mean… I think it’s just making this massive difference in efficiency.”

Now, Randy and Deva have time to work on their business instead of for it. Randy credits their new hire and increased efficiency for giving her the time to step up and be a leader, and Deva has found the time to not only improve her tax advisory knowledge but also her marketing knowledge. Instead of focusing on time-consuming daily tasks, she’s able to turn her attention to learning how to better serve and connect with her clients.

“My competence is just skyrocketing, I think because of the time that I’m able to take, to dedicate towards the learning and the strategy, instead of all the admin stuff.”

 And together, these changes have allowed Randy and Deva to build a system that has their dream clients reaching out to them. With the free time they needed to focus on high-level procedures, Deva and Randy have stopped treading water and started bringing in new, high-value clients weekly.

Holding Firm To Dream Firms

Where Deva & Randy Are Today

“I think we have about 50 new clients. We were at around 200, we’re at around 250 clients and we are on track to increase our revenue about 50% this first year.”  

They started out with nothing more than the drive to make their business succeed and tax advisory knowledge. Today, they’re on track to almost double their yearly revenue. Deva and Randy had the drive and the dedication to make their accounting firm succeed, they just needed a little guidance to grow. And that guidance came from our Create Your Dream Firm program. This time last year, they had somewhere between four and five leads a week. Last week, they had 26 leads. They made their dream firm a reality, and they aren’t stopping there. 

 “It like revolutionized our practice and in so many ways…you know, we wouldn’t be doing any of this, if it weren’t for Tyler.”