The Receipt Bank Blog

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6 Steps to an Extra $100K: How to increase revenue from existing clients

6_Steps_6.jpgThis is our last post in our series on how accountants and CPAs can capitalize on the client contact of tax season to build a business model that relies less on compliance work. By focusing your practice on monthly recurring revenue, you can partner with your clients to help them refocus their energy on the growth of their business, while you take care of the financial management. Today we're looking at how to increase revenue from your existing clients. If you missed the previous steps, you can catch up here:

  • Part 1 - Setting Targets
  • Part 2 - Planning Month Revenue
  • Part 3 - Value Added Services
  • Part 4 - The Right Tech For The Job
  • Part 5 - Pricing Your Services

If you've been keeping up on this series, congratulations for sticking with this. For your dedication, we've got a bonus step at the end of this post. We're on our final step, and we're focusing on where you'll find the clients for your monthly recurring revenue.

Building on trust

We often hear from firms that they'll sell the service to the next new client who comes in the door. But why would you want to wait for a new client when you have existing clients coming through your door every day during tax season? We recommend starting with the clients you already have. Why would you try out a new system on a new client with whom you haven't even established trust yet? Your existing clients already know and love you. You've already developed a level of trust. They'll be much more receptive to moving to a monthly recurring fee because they already know your work.

Increasing revenue from existing clients starts with a conversation

Begin by talking to those clients who are starting to drop off their tax information. Don't just chat about the weather, thank them, and send them on their way. Take the time to sit down with them and ask them about the ways in which you could help them grow their business. Find out what keeps them up at night and then tell them how you can help alleviate those fears. You'll likely find that many of your business clients will agree to your offer of a recurring monthly fee. You may also be pleasantly surprised that of those clients you need to make your target, many are ones with whom you already work.

Bonus step: Measure, Monitor, and Celebrate


Just like setting a goal to get in shape, you'll want to break your target into smaller goals. You and your team will stay motivated as you check off each target. Post the goals in the break room and update it weekly, so everyone knows where the firm stands.


As you hit your smaller goals, review the systems and make adjustments as needed. It won't be perfect from the get-go, and that's ok. Keep your eye on the target and fine tune as you move towards it.


Get your team involved. Buy-in from staff is critical to your firm's success. Decide as a team how you'll celebrate when you hit each target. Do you know what motivates them? Is it dinner out at a swanky restaurant? Is it a paid day off? Is it a company outing to a sporting event?

Whatever it is, make sure your team can enjoy the fruits of their labor. If you're starting out, ask us questions in the comments below or get in touch on Twitter. And for those of you who have already transitioned your firm, share what worked and what didn't so we can learn from others.

We may share your experience in a future blog post.