pricing, fees & billing rates

understanding the product pricing life cycle

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chart of a product life cyclewhich of the 4 phases do your products fall into? here’s how to tell.

by august j. aquila
price it right

there is an important concept in marketing that provides companies with tremendous insight as to what they can expect for their products or services in the marketplace. it’s called the product life cycle and, sooner or later, all products and services will go through the complete cycle. as they do, several external and internal factors change.

more: marketing and the 5 p’s | how to shift from production to marketing orientation | how traditional fee methods hurt firms | 6 questions for planning your succession | underperformers come in many shapes and sizes
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the accounting industry and the services it provides are no different. the figure above displays the life cycle of a typical service or product.
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pricing strategies: the real world vs. the cpa world

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businessman and tablet with the word "pricing" above.7 types and how they work.

by august j. aquila
price it right

pricing in the real world is much different than in the accounting profession.

more: marketing and the 5 p’s | how to shift from production to marketing orientation | how traditional fee methods hurt firms | 6 questions for planning your succession | underperformers come in many shapes and sizes | 6 focuses for managing partners | 10 steps to transitioning to a new mp | what managing partners should be doing
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

usually, wholesalers and retailers set their prices by using markups as the product moves through a distribution channel. producers or manufacturers usually set a list price. think of the manufacturer’s suggested list price on the window of a new car. car dealers will use various methods to price the new vehicle.
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how traditional fee methods hurt firms

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a road sign depicting falling dollarsrule of three and cost-plus overlook some key considerations.

by august j. aquila

the time has come for the accounting professional to rethink the paradigm on which pricing has been based. let’s discuss the traditional methods of price setting and how they can have a negative impact on a firm.

more: price to get the maximum fee | why value pricing? | solving underperforming or dysfunctional partners | the 3 types of partners you need | how mps can make a real difference | 5 reasons that leaders fail | 11 things all partners must do | why partners need written goals | the 6-step plan for transitioning clients

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

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the what, so what and now what?

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kyle walters: "to raise fees, you need to raise the value you provide."it’s no longer enough to be a historian.

by kyle walters

ever noticed that a car’s windshield is always larger than its rearview mirror?

more: clients don’t have a fee problem, they have a value problem
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when you are driving down the highway of life, looking ahead is far more important than looking behind you. the same is true when it comes to your client’s financial goals.
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price to get the maximum fee

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piggy bank on scale with dollar signsdon’t work more hours or harder. work smarter and learn how to price your services accordingly.

by august j. aquila

even if your billing methods and philosophy are diligently followed and your collections are under control, if you are not pricing your services properly, you are still leaving significant dollars on the table. you should price your services to receive the maximum fees possible.

more: why value pricing? | 6 questions for planning your succession | underperformers come in many shapes and sizes | 6 focuses for managing partners | 10 steps to transitioning to a new mp | what managing partners should be doing | do your partners pay their own way? | 7 keys to becoming an equity partner | how and why to achieve partner unity
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

most other professionals today price their services based on what the market will bear. why not accountants?

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why value pricing?

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woman checking a departure board at an airportcompare accounting firms to airlines.

by august j. aquila

it is hard to believe that it has been over 25 years since i first wrote about pricing accounting services. much has changed in the accounting profession, the world, and in my personal life.

more august aquila: 6 questions for planning your succession | 7 issues in partner retirement planning | is it time for a partner compensation checkup? | 13 points of a good compensation plan | 5 ways to keep your edge | how to become the firm of choice
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

technology is now a driving force in the profession, professional marketing is well established and accepted by firms, the united kingdom voted to leave the european union (brexit) and donald trump was elected president of the united states of america.

i have moved away from the marketing and business development for professional service firms to be a leader in the area of mergers and acquisitions, leadership development, compensation design, and change management.
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cpas put the brakes on price increases

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non-cpa tax and accounting firms hit the gas pedal.

long-term view: pricing index at cpa firms (index = 100, 2003)

 

which pricing strategy works best today?
join the survey. get the answers.

 

by rick telberg
卡塔尔世界杯常规比赛时间 research

under pressure by an increasingly competitive and uncertain business environment, cpa firms are pressing the brakes on new price increases, according to new data obtained by 卡塔尔世界杯常规比赛时间

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when the inmates are running the asylum

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crazy doesn’t get better by adding more crazy.

by dom cingoranelli

“we can’t really enforce this because we don’t want to risk having him (or her) quit.”

i can’t tell you how many times we hear something to this effect when we talk with cpas. we hear this at small firms and we hear it at large firms. we hear it from partners, from directors, and from managers. it doesn’t matter what size firm they’re in, nor does it matter what level or position they hold.

it’s always the same line. it reminds me of the old adage, “the inmates are running the asylum.” and, it raises the question of who actually is running the firm. who’s in charge?

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why next-gen firms embrace subscription billing plans

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sabhlok

zoho president explains the “freemium upsell.”

pricing strategies that work
join the survey. get the answers.

 

by sandi leyva and michelle long

let’s take a look at some pricing strategies for the subscription economy.

more small firm growth strategies: welcome to the subscription economy | ed kless on factors affecting price sensitivity | how to keep current | best practices for growth: network, specialize, share | 10 easy tips to boost your business cash flow | 2 ways to serve clients better | how to fire a client | how to manage client expectations | trashing the spreadsheet: best practices in modern expense management | 3 ways to implement value pricing | building reputation to build your business | need more business? focus on referrals
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there are a number of things that businesses can do related to subscription models, in particular around their pricing strategies. we have the freemium and upsell model, multiple additions, pay as you go, tiered or volume-based pricing and bundling. i’ve got some examples of each one of these. i’d be fairly surprised if we haven’t run across these already as consumers.

our guest for this discussion about subscription-based models is raj sabhlok, president of zoho corp., in his own words…

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five emerging trends for today’s savvy accountant

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what are your new year’s resolutions?

by sandi leyva

as accountants, our daily work is full of to-the-penny details that keep us focused on transactions, charts, data, and numbers all day long.  we have to be good at the details to be in our industry.  but we also need to be able to move from the trees to the forest and see the big picture. 

more:  why offering packages can catapult your revenue  |  four tools for a millionaire mindset  |  pssst, want out of compliance?    |  when to turn over client data files  |   5 quick steps to getting organized

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it’s such an exciting time to be an accountant.  not only are they making cool movies about us, we are seeing so many exciting and productive changes that we can benefit from.  here are some sweeping trends and how to measure how your firm stacks up.  read more →

2017 fee survey: price for non-itemized 1040s advances 6% to $176

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national average fees for itemized form 1040 with schedule a and a state tax return. source: nsa

but some other prices are down.

next question: who’s succeeding with value pricing? 
join the survey; get the answer.

by 卡塔尔世界杯常规比赛时间

the average fee for a professional to prepare and submit a form 1040 and state return with no itemized deductions will be $176 this year, according to a biennial survey conducted by the national society of accountants. the figure represents a gain of about 16 percent since the last survey in 2015.

more on pricing, fees & billing rates:  why offering packages can catapult your revenue  |  new survey finds widespread rate hikes in tax & accounting firms  |  client retention drives today’s pricing strategies  |  chaos in tax & accounting pricing  | tax & accounting firms wrestle fewer price increases from clients

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

compared to two years ago, some prices rose and others dropped – a clear signal of volatility and pressure in the market. surveyed firms expected to increase their accounting service fees by an average of 6.1% in 2017, up from an actual increase of 5.3% in 2016.

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the two most common management styles

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senior businessman with his team at officedo cpa firms need management or leadership?

by bill reeb and dominic cingoranelli

let’s start out with a straightforward question. what is the difference between management and leadership?

more on performance management: 8 ways to manage clients | the limitations of rainmakers | firms only grow when partners play their roles | the four basic parts of cpa firm partner agreements | younger partners see succession differently | how to compensate your managing partner | the job of managing partner: empowered or emasculated? | how the best managing partners turn ideas into reality
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

from one point of view, leadership is far different than management.
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