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pricing, fees & billing rates

which clients should you scope?

the process should align you with the client on the value and which services will be delivered.

by jody padar
radical pricing – by the radical cpa

scoping is a time commitment, so know that the client is worth the commitment and they have the revenue to back it. start by setting a minimum price point you will charge for the assessment process. if the client falls below your threshold price point, it doesn’t mean you’re not going to scope them, it just means the process will be less complex and can probably be done within an hour.

more: perfecting the client needs assessment | four steps to scoping for alignment … and the #1 rule to remember | here’s how profit sharing improves your firm | productize services for consistent client value | four ways automation pushes the paradigm shift | how value pricing impacts your employees | why pricing is so disruptive | accounting disruptors are heading your way … with deep pockets | advisory work must be priced by value, not hours
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

for smaller clients, it helps the process if they arrive at the assessment with all the necessary information. you can look at their quickbooks data and tax returns to get a strong sense of what they need and how long it will take to deliver. scoping a small, straightforward client will become second nature with time. but be careful about being too casual when scoping smaller clients. if you miscalculate, you are still opening your firm up to risk.

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pricing, fees & billing rates

perfecting the client needs assessment

standardization will make you more efficient, effective and profitable.

by jody padar
radical pricing – by the radical cpa

a client assessment is an onsite or virtual session where you observe the client’s accounting system on which you’ll be working. this is your opportunity to see how they run their business: their software, their processes and who does what. this is when tasks and responsibilities are clarified and assigned. both the client and your firm need to understand their responsibilities in this new partnership.

more: four steps to scoping for alignment … and the #1 rule to remember | getting aligned on scope helps your team and your clients | create more meaningful kpis | here’s how profit sharing improves your firm | five areas to ground new metrics other than time | five reasons to ditch timesheets for good | productize services for consistent client value | digitize clients for standardization | six steps to creating a standardized practice | four ways automation pushes the paradigm shift | are you the key signal caller for your clients?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

this assessment also allows you to fully understand the client’s service needs. it is a real-world assessment of services, budget and the work required to provide deliverables. it will also allow you to understand what it will take to onboard them. again, this assessment goes both ways. it’s worth assuming you have competition, so take advantage of this time to impress the client with some consultative advice demonstrating the value you bring to the table – this is especially true if you are charging for the assessment.

one of the key benefits is the ability to limit your risk and as you:

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pricing, fees & billing rates

four steps to scoping for alignment … and the #1 rule to remember

only price for that which you can see. 

by jody padar
radical pricing – by the radical cpa

how often have you heard the old saying about having two ears and one mouth because listening is twice as important as talking? hopefully, often, because it is as true as anything i’ve ever heard. scoping is all about listening, so when you make a presentation, you’ll know what you’re talking about, and the client will know you know.

more: getting aligned on scope helps your team and your clients | create more meaningful kpis | here’s how profit sharing improves your firm | five areas to ground new metrics other than time | five reasons to ditch timesheets for good | productize services for consistent client value | digitize clients for standardization | six steps to creating a standardized practice | value pricing requires defining your clients | stop selling time | three critical factors drive the value pricing trend | stop looking for talent that does not exist
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

here are four basic steps you can follow to make sure you and the client are in alignment when the time comes to start a new project or present to a potential new client:

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pricing, fees & billing rates

getting aligned on scope helps your team and your clients

master the map to success.

by jody padar
radical pricing – by the radical cpa

there are two basic ways to drive from door county, wisconsin, to new orleans to attend mardi gras in february. the first is to chart a course using a map or gps app. it will tell you the route to take, where to stop along the way and how long it will take to make the drive. the second way is to start the car, back out of the driveway and head south, hoping you’ll bump into new orleans along the way.

more: create more meaningful kpis | here’s how profit sharing improves your firm | productize services for consistent client value | four ways automation pushes the paradigm shift | how value pricing impacts your employees | why pricing is so disruptive | accounting disruptors are heading your way … with deep pockets | advisory work must be priced by value, not hours
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

which do you think gives you the better opportunity to arrive in new orleans in time for the festivities?

scope is a lot like creating a project map showing what you want to accomplish, who’s going to do what, how you’re going to do it, what you’ll need along the way and how long it will take to get there. it includes all the specific details of what you’ll deliver to the client, including, for example, tax returns, quarterly planning, bookkeeping and cash flow management.

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pricing, fees & billing rates

create more meaningful kpis

employees must understand what they’re working toward.

by jody padar
radical pricing – by the radical cpa

key performance indicators separate the signals from the noise. throwing timesheets into the trash is your opportunity to focus all your attention on what is most important to your firm’s continued success.

more: five areas to ground new metrics other than time | five reasons to ditch timesheets for good | productize services for consistent client value | digitize clients for standardization | six steps to creating a standardized practice | four ways automation pushes the paradigm shift | are you the key signal caller for your clients? | value pricing requires defining your clients | how value pricing impacts your employees
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

good kpis are quantifiable measurements agreed to beforehand. they must be important to the organization as a whole and specific. here are a few examples you might consider adopting:
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pricing, fees & billing rates

here’s how profit sharing improves your firm

pay for performance to reap greater rewards.

by jody padar
radical pricing – by the radical cpa

as long as you’re changing how your firm operates, you should also look at how your staff is compensated. if your customers are paying for value, shouldn’t your teams be paid on the same basis? once your firm turns to a value paradigm, the people delivering the knowledge work – your staff – are your most valuable asset and should be compensated as such.

more: five areas to ground new metrics other than time | five reasons to ditch timesheets for good | six steps to creating a standardized practice | value pricing requires defining your clients | stop selling time | three critical factors drive the value pricing trend | stop looking for talent that does not exist
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

it’s all about alignment. clients pay on value. staff should be compensated on value. there are proven ways to make sure this alignment takes place.

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pricing, fees & billing rates

five areas to ground new metrics other than time

you need to measure your progress and success, but not by the hour.

by jody padar
radical pricing – by the radical cpa

it may sound ridiculous, but the only people who are married to timesheets are professional services firms staffed by people who spend their professional lifetimes building their knowledge. every other company in the world has figured out how to sell and price products or services without relying on timesheets.

more: five reasons to ditch timesheets for good | productize services for consistent client value | four ways automation pushes the paradigm shift | how value pricing impacts your employees | why pricing is so disruptive | accounting disruptors are heading your way … with deep pockets | advisory work must be priced by value, not hours
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

why do professional services firms believe you should sell knowledge in increments of time? ron baker, an accounting visionary and author of “firm of the future,” once asked, “when you’re a knowledge worker, should you be selling your time?” i don’t think so.

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pricing, fees & billing rates

five reasons to ditch timesheets for good

you get what you measure.

by jody padar
radical pricing – by the radical cpa

when you measure time on timesheets, you are measuring a scarce commodity. there are only so many billable hours in a week.

more: productize services for consistent client value | digitize clients for standardization | six steps to creating a standardized practice | four ways automation pushes the paradigm shift | are you the key signal caller for your clients? | value pricing requires defining your clients | how value pricing impacts your employees | 6 steps to start value pricing | what are you selling? | three critical factors drive the value pricing trend
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

by measuring billable hours, you’re living in a world of scarcity. this is bound to affect your firm, both internally and externally.

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