As accountants, we are passionate about helping our clients and bringing value to their businesses.
However, sometimes we might find ourselves giving away our services for free or undercharging due to our fear of discussing fees or apprehension about charging clients for additional work that falls outside the initial scope. While this may seem like a kind gesture or a smart marketing move, consistently offering free services can ultimately adversely affect our businesses and personal finances.
Don’t set precedents
When we provide services without charge, it inadvertently sets a precedent. Clients who get used to receiving free services might start expecting them and could be reluctant to pay for additional offerings in the future. This mindset can lead to a decrease in revenue and profitability, negatively impacting our businesses.