Impeccable Processes and Relationship Pricing - Dawn Brolin’s Route to Growth, Stability & Success

“I had like 8 people at the time, and I was doing all the admin work and not getting any work done. I am the highest billable person, and I am not even billing. Finally, I broke, and I was like I need someone. I think a lot of the time we think we are doing the right thing and that we are running the firm the right way, and I don’t know if it is the breaking point or something, but I wish people would bring on an admin sooner rather than later,” Dawn Brolin, CEO of Powerful Accountat, the Designated Motivator and a leading voice in the accounting industry says in a conversation with Maanoj Shah, offshoring expert, Co-Founder and Director at Finsmart Accounting in the Smart Outsourcing Talks podcast. 

Watch the complete conversation with Dawn Brolin here: https://youtu.be/OxSOfIp7NEU?si=THp28SM9ILx-q6p6 

One of the most important things that Dawn talks about is that it is not about how many clients you have in your firm. If you want to become a multi-million dollar firm, that is fantastic. If you don’t, that’s alright too. What is important is that you can deliver value to your clients without losing your life in the business. 

That is where you need processes that fit right into your systems

Dawn takes an interesting point – she has an admin, one who is also the client communicator, responsible for putting all clients and all tasks in the pipeline. While talking about processes, Dawn says, “If someone at the store says, ‘Dawn, I want you to do my tax returns’, and I say, ‘Give me your cell phone number, I will shoot out a text message and we will figure it out,’ Poor process, does not work well. Because Tracy (her admin) is the start of the process and not Dawn.” 

When firms, especially solopreneurs, work without strong processes, they expose themselves to chaos, errors, and poor client experience. An admin, on the other hand, can take a lot of the load off of you. Processes also bring along consistency, both for the teams and the clients. Just like Dawn, a seamless process can help free up leaders to focus on growth, and not on firefighting. 

What are some of the places you can leverage technology for?

• Bookkeeping/Tax software
• Document organizing and storage
• Practice management
• Client and internal communication 
• Comp analysis
• Automation tools

Some accounting firms today are still struggling to adapt to the new-age technology. Technology is not about driving people out of their jobs; it is about making your teams more efficient and productive. Most new-age technology is designed to integrate seamlessly with your existing tools, making adaptation easy. Once you create a stable foundation with processes, workflows, and technology, you can truly focus on the growth of your clients. 

Right Pricing – Your Growth Lever

One of the key hindrances accounting firm owners face when it comes to growth is the right pricing. In the current accounting industry, value-based pricing is more important than ever. Today’s clients, when hiring an accounting firm, don’t simply want them to get their tasks done; they look for advisors. But it is not simply about increasing your prices.

Dawn had to measure the pros and cons before letting go of many clients and setting up a niche for herself. Today, she and her team work with individuals with multiple business entities. This has allowed Dawn to perform focused work. The model with which Dawn prices her services is what she calls relationship pricing. 

“Money is an uncomfortable conversation for everyone and anyone. And when you can take the money out of a conversation and make it clear, it is easier. It’s like we are in your back office. You don’t even need to worry about any of this. And that has given our clients a real sense of comfort.”

“When I decided to move to relationship pricing, I told my clients I was changing my business model. This is not about you; this is about how my firm and I want to operate. Whether you are on board or you are not. This is a mindset shift, and I really encourage people to sit down and figure out what they want out of their firm,”  says Dawn.

According to Dawn, relationship pricing is not just about sending out a pricing chart and asking all clients to abide by it. It is about building a relationship with small things – sending cookies on birthdays or a “get well soon” card when someone isn’t feeling well. 

When pricing is well-aligned with the relationships around, it encourages openness – clients end up sharing more because they don’t worry about the “running meter”. This transparency creates an opportunity for stronger bonds, enabling accountants to become true advisors rather than just service providers. 

Relationship pricing does more: 

1. Brings stability in revenue and forecasting
   

• As Dawn said, the trust that they have been able to build through relationship pricing gives firms predictable recurring revenue. This stability in the cash flow allows firms to reinvest in tech talent and processes. This helps in shifting the focus from short-term billing to long-term partnerships.
  

2. Tailored value proposition for each client
   

• You cannot have relationship pricing with everyone. Despite changing your pricing model, there will always be someone who wants to limit the relationship to bookkeeping and payroll. Relationship pricing helps acknowledge this difference among clients. This also makes it easy for accounting firms to tier their services – some want compliance only, others want advisory. Even if you bundle the services, this makes it easier to put a number.
  

3. Helps unlock growth and scalability:
   

• Firms that can adopt relationship pricing are better positioned to scale. This is because they can package and price services consistently. This model also makes it easier to integrate offshore teams as the margins created by relationship pricing fund capacity expansion. The bottom line is that firms can grow sustainably without burning out staff or slashing fees. 

We keep talking about reducing the 70-80-hour workweek and striking the work-life balance. These are important conversations, especially in an industry like accounting, where the nature of work, pressing deadlines, and client demands make extended hours an everyday reality. But here’s the thing – it can get better. With the right processes, workflows, tools, technology, and pricing, firm owners can build the business they have dreamt of. 

Watch the complete conversation with Dawn Brolin here: https://youtu.be/OxSOfIp7NEU?si=THp28SM9ILx-q6p6

Want to know more about how offshoring can help in your journey of growth and scalability? Book a free consultation with us: https://finsmartaccounting.com/free-consultation/