More on Guarantees

In my last post, I wrote about the power of creating guarantees for your business.

Thank you to Dr. Joe Hwang for his comments and excellent question.

Dr. Joe, a dentists, was wondering how professionals who must operate under the restrictions of a governing body can offer guarantees.

As a CPA, I too have restrictions on the guarantees that I can offer. For example, CPAs cannot not guarantee a tax refund when they prepare a tax return. Nor can CPAs guarantees that a business will receive a bank loan as a result of financial statements that they prepare. However, CPAs can provide service guarantees. They can guarantee that phone calls and emails will be responded to within one business day. They can guarantee that work will be completed within a certain time frame. And, they can guarantee up front pricing.

Professionals can create strong guarantees by looking at a combination of their unique value proposition and the key frustrations of their customers.

Professionals who are still uncomfortable with using guarantees can implement something similar through the use of service commitments, performance standards or a customer’s bill of rights.

The VeraSage Institute recommends The Consultant Customer’s Bill of Rights.

Other professionals offering guarantees in some form include:
Biggs Kofferd, CPAs

Fitchitt & Benedict, CPAs

Michael Anderson & Company, CPAs & Business Advisors

RFCO Services, LLC

Contact your local Principa CPA for tools on preparing your unique value proposition and developing the appropriate guarantee for your business.