pricing rates

fine-tuning the subscription fee model

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how cpa jamie lopiccolo’s subscription pricing models manage client expectations and the firm’s cash flow.
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with steven sacks
the new fundamentals: thriving in disruption

james (jamie) n. lopiccolo, cpa, cgma
lopiccolo

jamie lopiccolo, the managing member of a small midwest firm, has been employing a subscription-based model for more than four years to invoice clients for services rendered. in addition to positioning the cpa as the client’s partner for success, it also encourages those who employ the system to provide maximum value in each client interaction, rather than focusing on getting as much money or billable hours as possible. catch another conversation with lopiccolo here: sell service, not hours.

more: blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  |  accounting nerds, unlock your super powers  | private equity vs. the cpa firm partnership the fintech flood: accounting will never be the same  |  think small to think big with matt wilkinson | your sales tax headaches are only just beginning | when financial statements go extinct with corey schmidt  |  can geraldine carter save accountants from themselves? |  re-inventing accounting with tyler anderson |  turning client service into new revenue

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the approach is to both manage expectations by the client and ensure a normalized cash flow for the firm. additional benefits include a more strategic approach to dealing with new clients because they are getting the full picture of their business’s needs.

more takeaways:

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marketing orientation is what firms need

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production orientation is where too many rest.

by august j. aquila

let’s look at the different focuses or orientations that firms can take toward managing and running their practices and see which ones the traditional pricing methods encourage. any organization, whether an accounting firm or not, usually tends to have one of four focuses.

they are either selling-oriented, product-oriented, production-oriented or marketing-oriented.

more: when hourly billing hurts profits
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each focus will have a direct impact on how a firm looks at servicing clients and pricing its services. the predominant focus is often dictated by the value system of the founders of the organization or its current management team. perhaps when the firm was first started, the predominant focus was appropriate. however, a danger exists when the external environment changes and the internal environment of the firm stays the same. in the ’70s and early ’80s firms did quite well by following a production orientation focus. in the late ’80s and the ’90s, this strategy did not work as well. and it certainly does not work today.
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when hourly-billing hurts profits

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the rule of three algorithm vs. the new cost-plus worksheet.

by august j. aquila

the time has come for the accounting professional to rethink the paradigm on which pricing has been based.

most now agree that the traditional methods of price setting can have a negative impact on a firm.

more: the morning after the merger | 6 action steps for a smooth retirement transition | the eternal riddle of being an effective leader | 7 pieces of leadership advice | tomorrow’s leader in 9 bullet points | 5 ways to get clients to accept a new pricing philosophy | 11 alternative pricing methods

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somewhere along the line accountants began to believe that an hour of their work had a set value to their clients. as we shall see, this false assumption has led to the current state of affairs and has caused accountants to:

  • produce more chargeable hours by constantly reinventing the wheel
  • hoard work and, consequently, do a poor job of delegating
  • inhibit the creation of more efficient ways of producing accounting services
  • hinder the development of more efficient project management

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the disruptors: can geraldine carter save accountants from themselves?

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go pro for the complete video, notes, analysis, takeaways and transcript.

the disruptors
with liz farr

geraldine carter is on a mission to make accounting more attractive as a profession, and to make accountants more profitable, particularly soloists and small firms.

more: the disruptors: re-inventing accounting with tyler anderson |  the disruptors: how to scale with new padgett coo amanda aguillard | eat that frog: asking for a prospect meeting | growing revenue through client service | lease accounting is about to get very real | google ads for new tax season clients | exclusive: eisner ceo charly weinstein explains the private equity deal  | flash briefing: a “call to arms” after private equity deal | four ways to beat the staffing shortage, with pasha malik

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in this episode of the disruptors with liz farr, carter explains the trouble with “orphan 1040s,” how to “level up” your firm, the priceless value of emotional intelligence, and why giving your all is too much (80 percent is enough.)

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beyond tax prep: the big cha-ching!

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five reasons business clients are ready for tax advisory services.

credit for data: intuit

by 卡塔尔世界杯常规比赛时间

question: if half your tax clients were buying planning or advisory services for five times what they’re paying for tax prep, what would that add up to?

answer: a big cha-ching!

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this may be the season for tax filing, but accountants failing to leverage prep into planning and advisory are missing out on a lot of potential revenue.

the average annual fee for tax planning and advisory services is $2,351—five times the average annual tax prep fee of $459, according to a new study. read more →