Are you running your firm like a discount carrier, cramming in as many clients as possible, competing on rock-bottom prices, and charging extra just to keep the lights on? Or are you running a “Private Jet” practice; serving a select group of clients who happily pay a premium for a high-value, white-glove experience?
If you are tired of the “volume trap,” dealing with price-sensitive clients, and feeling the burnout of tax season year-round, you are not alone. In this episode of Building the Premier Accounting Firm, host Roger Knecht sits down with Michelle Weinstein to diagnose the “underearning disease” plaguing the industry and reveal the cure: shifting from a commodity mindset to a value-based model.
Meet the Guest: Michelle Weinstein
Before transforming the accounting sales space, Michelle worked as a financial analyst at Moss Adams and even pitched her own food company on Shark Tank, landing her products in Costco. Her unique blend of high-stakes sales experience and financial background gives her a “zoomed-out” perspective on the industry. Today, she has helped her clients collectively add over $20 million in revenue by mastering the art of selling high-value services without feeling “salesy.”
The “Spirit Airlines” Trap
As Michelle explains, many firm owners operate like a budget airline: they try to be everything to everyone at the lowest possible price. The result? You attract clients who complain about every invoice, demand instant responses, and don’t value your expertise.
The alternative is the “Private Jet” model: fewer clients, higher fees, and a focus on deep, transformative value. Michelle notes that the right clients will not only accept a 200% or even 500% fee increase—they will respect you more for it.
3 Steps to Stop Undercharging & Start Scaling
In this episode, Roger and Michelle break down the actionable steps to transform your pricing strategy:
1. Kill the Hourly Bill (And Accounts Receivable)
If you are still billing hourly or sending invoices after the work is done, you are acting as a free bank for your clients. Michelle advises shifting to upfront payment models. Just like you buy a plane ticket months before your trip, your clients should pay for their “seat” in your firm before you lift a finger. This one shift eliminates the stress of chasing down checks and stabilizes your cash flow immediately.
2. Implement the “ER Fee” for Rush Work
Do you drop everything when a client has an “emergency”? If so, you are training them to disrespect your time. Michelle suggests establishing a clear boundary: if a client needs something done immediately, they pay an “ER Fee”—a premium rate (often 4-5x your standard rate) that reflects the urgency. This not only compensates you for the stress but often eliminates false emergencies altogether.
3. Use Your Engagement Letter as a Shield
Scope creep is the silent killer of profitability. Roger and Michelle discuss why your engagement letter shouldn’t just list what you will do—it must explicitly list what is excluded. This gives you a tool to manage expectations and trigger a new sales conversation the moment a client asks for something outside the original agreement.
Overcoming the Fear of “Firing” Clients
The biggest hurdle to raising your rates isn’t your clients’ budget—it’s your own fear. Fear that they will leave, fear that you aren’t “worth” it, or fear of conflict. But as Michelle puts it, you have to realize that your intellectual property—your “inventory”—is valuable. By raising your standards, you naturally filter out the clients who are dragging you down, making room for the ones who are ready to fly first class.
Listen to the Full Episode
Listen to the full conversation with Michelle Weinstein here to learn exactly how to script these difficult conversations and secure your financial freedom.
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