the great debate: timesheets vs. value-pricing
the essential managment tool.
by ed mendlowitz
pricing rates
gross profit in a professional services firm: opening a dialogue
plus specific ways to improve in services, marketing, sales, delivery and support.
by august j. aquila
price it right
accounting firms focus on top-line revenue or net profit. but are they focusing on what really matters?
more: tomorrow’s leader in 9 bullet points | checklist: 18 essential steps to effective billing | how to get partners to accept a new pricing philosophy | 12 pricing factors beyond cost | 13 questions about providing value | how to shift from production to marketing orientation
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profitable businesses involve more than just selling more products and services to increase revenues. there is an old joke in the retail business: a salesperson tells the manager that they are losing $1 on every shirt they sell. the manager says, “don’t worry, we can make it up in volume.”
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is it time to manage your receivables like a real business?
consequences: are there any?
by domenick j. esposito
8 steps to great
it never ceases to amaze me how lax many small and midsized cpa firms are when it comes to managing their work-in-process and accounts receivable and optimizing their cash flows.
more on strategic planning: profitability requires discipline | the link between strategy and winning on value | focus on an enhanced client experience | solve the partner comp problem | 6 rocks in the path to growth | use compensation to shape partner behavior | the importance of m&a culture due diligence
sloppy billing and collecting policies often result in lost billing opportunities (i.e., if you don’t bill it timely, clients forget the value you provided and resist receiving a bill 90 days after the work was performed) and for a need to have a relatively large line of credit. sloppy policies also result in year-end fire drills with clients when partners “beg” clients for cash before the end of the firm’s fiscal year end.
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11 ways to move to value pricing
plus: 13 benefits clients will happily pay for.
by rob nixon
as you go through the journey of value belief and client value perception, you have to be conscious of price parity.
more on strategy: are your prices too low? | 6 steps of moving to value pricing | feel good about yourself | how to build enduring relationships | they should all be ‘a class’ clients | accountants are the last trusted advisors | how to structure your firm for success | why average project value matters
if a client has been paying $5,000 for your service and even if you feel it is worth twice as much, the client may not pay much more for it – particularly if it looks like the same service. your client might pay 15 percent or 20 percent more, but double? – give me a break. unless you completely redesign your product offering so it looks completely different, your current client will have a hard time paying the price.
but when it comes to new services that the client has never bought before – different story. there is no price parity with a new service that has not been purchased before – charge at will!
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you cannot prove your value
you can, however, help clients and prospects discover it.
by hitendra patil
accountaneur: the entrepreneurial accountant
you cannot prove your value to your clients (and prospects).
you can not.
more on entrepreneurial strategy: certified blockchain accountant: from cpa to cba | who wants to be a comptometrist? | is blockchain an extinction event for accountants? | blockchain accounting is an oncoming train | how to fly the automation dragon to your dream practice | your clients hold a secret key to your practice growth | seven lessons for accountants from self-driving cars
they need to discover it themselves.
because value is perceived in their heads.
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