557 search results for pricing

dear midsized firms: yes, you can change

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why you should strive for utopia.

by jody padar
the radical cpa

in a traditional firm, the partner is the center of everything – from technical knowledge to relationship management to operations.

more on radicalism: the radical road to (business) transformation | transitioning to a radical firm: bringing a legacy customer along | the four factors for fixed pricing | target content to consumers, not industry | social + strategy = success | make the cloud work for you | 5 ways to capitalize on trends

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and, it’s not a pretty sight.

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how to get partners to accept a new pricing philosophy

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businessman putting a card with text "don't resist change, embrace it" in suit pocket5 common objections … and 5 reasons to change. bonus: an 11-point fee audit.

by august j. aquila
price it right

before you announce new pricing policies to your clients, it is critical that you and all the partners in your firm embrace the new pricing philosophy. the entire process begins with the following:

more: preparing to change pricing philosophy | 11 alternative pricing methods | applying cobb’s value curve to your firm | the four types of competition | marketing and the 5 p’s | why choose a marketplace orientation?
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  1. the firm’s willingness to make some changes
  2. an analysis of existing engagements and the economic impact that a different pricing strategy will have on the firm
  3. a review of how the firm is currently delivering and producing its services
  4. the firm’s overall relationships and communication style with its clients

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preparing to change pricing philosophy

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businesspeople chatting around a water cooler5 factors to consider.

by august j. aquila
price it right

once you have decided to adopt an alternative pricing philosophy, what do you do next?

more: 11 alternative pricing methods | 12 pricing factors beyond cost | 13 questions about providing value | how demand affects pricing | how to shift from production to marketing orientation | how traditional fee methods hurt firms
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changing your firm’s pricing philosophy is really a three-step process. first, you need to consider several factors before suggesting a change. second, you need to get your partners to agree that it is a good idea, and third, you need to educate your clients so that they accept and understand the new approach.
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the four tenets of radical firms: a brief review

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purple no. 4 billiard ballsay goodbye to change management.

by jody padar
the radical cpa

before we can fully leap into the future, we need to understand where we’ve been.

more on radicalism: the radical cpa: always changing | the four factors for fixed pricing | clients buy solutions, not time | how to leverage social media | target content to consumers, not industry | narrow your social focus | why transparency matters to clients
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the foundation of any radical or new firm is comprised of the four tenets.
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11 alternative pricing methods

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woman in officewhen to use each, plus the marketing and operational perspective.

by august j. aquila
price it right

there are many ways to price professional services.

more: 12 pricing factors beyond cost | ethical issues in pricing | how utility and value affect pricing | understanding the product pricing life cycle | 4 ways a production orientation can harm a firm | price to get the maximum fee | 7 issues in partner retirement planning | is it time for a partner compensation checkup?
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alternative pricing methods in the legal profession have received much more attention than in the accounting profession. in fact, entire publications have been issued by the american bar association (aba) on this particular topic.
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ethical issues in pricing

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august aquila: "if someone is going to be unethical, it will not be a result of the billing method he or she uses."specifics of rules 302 and 503.

by august j. aquila
price it right

in the old days you could go into a shoe store and purchase sneakers or gym shoes. nowadays, there are tennis shoes, running shoes, cross trainers, aerobic shoes, basketball shoes, soccer shoes and the list goes on and on. perhaps the billable hour paradigm soon will go the way of the gym shoe.

more: applying cobb’s value curve to your firm | 13 questions about providing value | how demand affects pricing | 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
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accountants need to realize that in pricing their services, one pricing method will no longer do. as with athletic shoes, accounting and consulting services can be priced in many different ways. this post will explore ways for you to move away from the hourly billing paradigm.
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applying cobb’s value curve to your firm

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hand turning a knob up to the maximum with a dial where it is written "value added"“pricing – that is, fee-setting – is above all a marketing decision.”

by august j. aquila
price it right

there is a completely different way of looking at value and it is tied into the type of accounting or consulting work that is available in any given market and the type of accounting or consulting work that your firm provides.

more: 13 questions about providing value | how utility and value affect pricing | understanding the product pricing life cycle | 4 ways a production orientation can harm a firm | price to get the maximum fee
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nearly 30 years ago william c. cobb wrote “the value curve and the folly of billing-rate pricing,” providing a great deal of insight into the concept of pricing and value. many of the ideas that follow are based on cobb’s article.
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13 questions about providing value

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hand moving triangle along beam to indicate balance between price and valuerate both yourself and your firm.

by august j. aquila
price it right

there are things that you can do to help your clients perceive a higher value in you and your services. these are not activities that will immediately increase your fees, but if done consistently, they will reinforce to your clients the added value that you bring to them.

more: how utility and value affect pricing | the four types of competition | marketing and the 5 p’s | why choose a marketplace orientation? | why value pricing?
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innovative firms realize that it takes more than just a seminar or newsletter to provide added value to the client. everything revolves around the personal relationship that ultimately develops between the professional service provider and the client.
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how to structure your firm for success

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diagram of silo partnership modelyour new org chart has 5 key areas.

by rob nixon

the new growth equation means you need different skill sets. you will need a different structure to create, market, sell and deliver the new services to new and existing services. and you will definitely need different people involved.

more on strategy: be a history maker | growth is all about the clients | change is on the horizon | order takers and history writers | why old pricing models are unethical | 8 ways to improve firm profits | 17 killer questions for prospects
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the traditional “partnership” model is one of a silo model. often it has been described as “accountants sharing rent.”
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how utility and value affect pricing

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man's hand drawing upward arrow with words "value for money"shift the focus away from the service provided, and think about the 8 kinds of utility.

by august j. aquila
price it right

if indeed we believe the phrase “perception is reality,” then it is the client’s perception that is the only reality. ultimately, only a client can determine the value of your service, that is, the fee he or she is willing to pay. if the client perceives that he or she has received a benefit there will be some perceived value attached to the service.

more: the four types of competition | how demand affects pricing | how to shift from production to marketing orientation | how traditional fee methods hurt firms
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consciously or unconsciously, the client’s determination of the correct fee for a service is related to two concepts: utility and value. let’s look at these two concepts and how they apply to setting prices.
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be a history maker

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illustration of man pushing "services" buttonthe awesome 8 beyond compliance.

by rob nixon

the old model suggests that most of the work that accountants do is history writing.

more on strategy: growth is all about the clients | why average project value matters | do your clients want more? | the bizarre habits of accountants | 12 traits of a better you | 8 ways to become super-efficient | sales is like workflow management | how to dominate the internet | marketing objectives determine marketing amount
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writing up the past and presenting it is a timeframe that it is not relevant anymore. clients want additional help and if you take the view that by being proactive and really helping your clients, you can become a history maker.
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how demand affects pricing

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word cloud related to demandone word: elasticity.

by august j. aquila
price it right

economists define demand as a schedule of the various amounts of an item (a good or service) that buyers will purchase at different price ranges during a given time period.

more: understanding the product pricing life cycle | marketing and the 5 p’s | why choose a marketplace orientation? | why value pricing? | solving underperforming or dysfunctional partners | the 3 types of partners you need
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

according to the theory of price elasticity of demand, there is an inverse relationship between price and the quantity of an item bought. in other words, as the price of a service decreases, the quantity demanded increases and as the price of a service increases, the quantity demanded decreases.
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