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geraldine carter: why charging more is better for your clients

july 13, 2024

do the work you love for clients who value your expertise.

this is a video preview. the complete video episode, with commentary and transcript, is first available exclusively to pro members.

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the disruptors
with liz farr

geraldine carter wants accountants to get off the treadmill of working too many hours for too little pay. her new book – down to 40 hours – will help accountants achieve the “utterly reasonable” goal of working only 40 hours a week.

more podcasts and videos: vimal bava: when working smarter, not harder, is the only option | dawn brolin says grow your firm by shrinking it | jason blumer & julie shipp: move leaders out of client service | james graham: drop the billable hour and you’ll bill more | karen reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusion | bill penczak: stop forcing smart people to do stupid work | sandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow |

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

carter helps accountants solve the problem of overwork with a three-pronged approach: creating value for clients, pricing effectively, and delivering services efficiently. a key to this approach is focusing on a niche. by focusing on a particular type of client, you see the patterns that help you create value for clients, “and you’re likely going to be one of the few with that expertise.” providing more value “enables you to increase your prices for the same work,” she says.

productize services for consistent client value

july 10, 2024

by jody padar

high-end alignment creates more satisfying client experiences.

by jody padar
radical pricing – by the radical cpa

now that you have hopefully standardized your services, it’s time to look at productization. productization is the packaging of intangible services to make them feel tangible. you put everything you will do for a persona into an offering that resonates with them because it’s customized for them. it’s then clearly priced so the buyer knows what they get for their investment.

more: 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
exclusively for pro members. log in here or 2022世界杯足球排名 today.

this is just as useful for your clients as it is for your staff. clients appreciate it because they know exactly what they’ll get and what to expect. staff appreciate it because, unlike in traditional firms where there are at least four different ways to get to the same deliverable, this model has one pathway for each deliverable and service product, making it both efficient and traceable.

say adios to audit fee pressure

july 8, 2024

by alan anderson

what client goes out for an audit proposal when their auditor provides relevant advice and useful suggestions?

by alan anderson, cpa
transforming audit for the future

your client likely engaged your firm for an audit because they need an audit. but what is it that they want? they don’t want a stack of paper delivered months after year-end. like anyone else, they focus on “what’s in it for me?” or wiifm.

more: use eight audit exit items to deepen client relationships | exceptional audit client service demands effective communication | deliver more audit value by getting out of the conference room | know your three audit w’s | planning lays the foundation of audit relevance | how do we drive relevance in audit? | before the audit: more than just planning | are you correctly identifying the relevance intersection? | lack of relevance drives audit commoditization | five crucial attributes for successful audit leadership | traditional audits don’t deserve premium billing
exclusively for pro members. log in here or 2022世界杯足球排名 today.

they want relevant ideas that will help them improve their businesses. they want to learn from you about your experience with others in their industry or in a similar situation. they want a relationship with you to talk about their business in plain english. they want someone who can explain the accounting standards and how they impact how they report their results.

remember our definition of relevance:

four considerations when standardizing client tech stacks

july 3, 2024

by jody padar

how to make sense of their various channels.

by jody padar
radical pricing – by the radical cpa

clients use the client technology stack to run their day-to-day businesses. the stack they use depends on their niche or vertical. for example, law firms use clio, while e-commerce businesses rely on webgility, among others.

more: 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 | advisory work must be priced by value, not hours
exclusively for pro members. log in here or 2022世界杯足球排名 today.

the next tech layer is data aggregation. all the data feeds will land here, and you can determine what to do with and how to organize this information based on kpis or other metrics around which you’re building their business success.

digitize clients for standardization

june 26, 2024

by jody padar

don’t lose your shirt over process.

by jody padar
radical pricing – by the radical cpa

why is mcdonald’s easy to price and why is their product so consistent no matter where in the world you are? you know that if you get a big mac in chicago or one in new york, it will taste and cost the same. this is because of standardization, and you shouldn’t underestimate the role digitized data plays in maintaining this consistency.

more: 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 | accounting disruptors are heading your way … with deep pockets | the convergence of trends makes pricing changes imperative
exclusively for pro members. log in here or 2022世界杯足球排名 today.

your firm can standardize and price just like mcdonald’s does, if you have the right tech infrastructure, in addition to standards related to both clients and workflow.
read more →

disruptors: cut 90% of your clients with dominique molina

june 25, 2024

by liz farr

we risk losing a generation of highly talented people if we continue to expect them to pay their dues and work long hours.

this is a preview. the complete video episode, with commentary and transcript, is first available exclusively to pro members.

the disruptors
with liz farr

in 2006, dominique molina was overworked and burned out at her accounting firm. but instead of throwing in the towel, she drastically overhauled her firm: she pruned her client base from 300 to 30, focused on her expertise in tax planning, and shifted to value pricing.

more podcasts and videos: dawn brolin says grow your firm by shrinking it | jason blumer & julie shipp: move leaders out of client service | james graham: drop the billable hour and you’ll bill more | karen reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusion | bill penczak: stop forcing smart people to do stupid work | sandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow |

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

that transformation was “beyond my wildest dreams,” molina says. “i never could have predicted the joy that i feel in my life, the satisfaction and fulfillment i feel from my work” by helping her clients with their own business transformations.

six steps to creating a standardized practice

june 19, 2024

by jody padar

don’t be blinded to the benefits of standardizing services.

by jody padar
radical pricing – by the radical cpa

the accounting profession will never resemble an automotive production line, perhaps for no other reason than we don’t look good in steel-toed boots. we’ll never be widget producers and, from my viewpoint, that’s a good thing. however, our position among the professional class shouldn’t blind us to the benefits of standardizing many of our services.

more: 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 | six steps to start value pricing | stop selling time | why pricing is so disruptive | the radical pricing model: start with $25k | three critical factors drive the value pricing trend | accounting disruptors are heading your way … with deep pockets | the convergence of trends makes pricing changes imperative | stop looking for talent that does not exist
exclusively for pro members. log in here or 2022世界杯足球排名 today.

anyone who has been an accountant for any length of time has certainly seen enough to eliminate the need to reinvent the wheel every time they start a new engagement. an entire firm has even more institutional knowledge to draw from. you can develop reliable and repeatable recipes for different services and deliverables by capturing this institutional knowledge. this is standardization, and it makes your service offerings more efficient, cheaper, consistent and predictable – all good business practices. you’ll be able to predict with better accuracy the time frames required for new projects, and you’ll be able to scope out exactly what will be required to bring the project to a successful conclusion. read more →

loren fogelman: stop undercharging and start being client-centered

june 18, 2024

by liz farr

stop letting your business and career “suck the life out of you.”

this video is a preview. the complete video episode, with commentary and transcript, is first available exclusively to pro members. the podcast version will be available everywhere you get your podcasts.

the disruptors
with liz farr

loren fogelman is on a mission to help accountants and bookkeepers build businesses that “don’t suck the life out of you.” as fogelman says, “how much can you actually give up your personal life before it’s not sustainable any longer?”

more podcasts and videos: dawn brolin says grow your firm by shrinking it | jason blumer & julie shipp: move leaders out of client service | james graham: drop the billable hour and you’ll bill more | karen reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusion | bill penczak: stop forcing smart people to do stupid work | sandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow |

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

according to fogelman, a keynote speaker and one of america’s top-ranked business coaches for business success solution, “at least 57% of firm owners are undercharging for their services.” she encourages professionals to double or even triple their fees, which frees up time so they can provide client-centered services and “go back to the gym or spend more time with your family or take that much-needed vacation.”

the highly-sought business coach has several methods her clients use to earn more, work less, and have more quality time for themselves.

four ways automation pushes the paradigm shift

june 12, 2024

by jody padar

everyone’s job is enhanced when you can automate wherever possible.

by jody padar
radical pricing – by the radical cpa

when you have three people in your firm, each doing things their own way, you won’t be able to standardize until you get them all on the same page. technology makes it easy to do that.

more: 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 | accounting disruptors are heading your way … with deep pockets | the convergence of trends makes pricing changes imperative | stop looking for talent that does not exist | advisory work must be priced by value, not hours
exclusively for pro members. log in here or 2022世界杯足球排名 today.

technology is spurring innovation and driving automation – and that’s reshaping the future of accounting. automation is simply using technology to complete tasks that are typically done by humans, and it will help you standardize by providing:
read more →

are you the key signal caller for your clients?

june 5, 2024

by jody padar

calling the right plays means understanding your clients and their goals, as well as their weaknesses.

by jody padar
radical pricing – by the radical cpa

it’s up to you to recognize the client persona most suited for your firm, but you’ll want to start by defining your customers’ needs. so, what do people really want, and how can you figure it out?

more: value pricing requires defining your clients | how value pricing impacts your employees | six steps to start value pricing | stop selling time | why pricing is so disruptive | the radical pricing model: start with $25k | three critical factors drive the value pricing trend | accounting disruptors are heading your way … with deep pockets | the convergence of trends makes pricing changes imperative | stop looking for talent that does not exist | advisory work must be priced by value, not hours
exclusively for pro members. log in here or 2022世界杯足球排名 today.

certainly, you can engage in expensive research, from questionnaires to focus groups. but, in reality, most of the clues you need will come from your knowledge of the people you work with within that group.
read more →

value pricing requires defining your clients

may 29, 2024

by jody padar

choose your client personas wisely.

by jody padar
radical pricing – by the radical cpa

one drawback of the hourly pricing model is its one-size-fits-all nature. every client is charged the same rates per hour, with the only difference being the number of hours each uses.

but the world isn’t made up of identical people working in identical businesses and driving identical cars to and from their identical homes. thank goodness!

more: how value pricing impacts your employees | six steps to start value pricing | what are you selling? | three critical factors drive the value pricing trend | accounting disruptors are heading your way … with deep pockets | the convergence of trends makes pricing changes imperative | stop looking for talent that does not exist | advisory work must be priced by value, not hours
exclusively for pro members. log in here or 2022世界杯足球排名 today.

clients are as different as you or me, but we can group them into buckets called personas based on shared values or traits. in a client-centric firm, it helps to understand these basic personas so you can more efficiently meet each client’s needs. you probably have a handful of personas in your firm right now. you just haven’t seen them as a grouping because, in your bill-by-the-hour model, it doesn’t matter who they are.

how value pricing impacts your employees

may 22, 2024

by jody padar

would your employees prefer to be valued for their knowledge and experience or for the time spent on a project?

by jody padar
radical pricing – by the radical cpa

do you think any of your staff studied accounting in college so that they could punch a time clock for the rest of their life? they value being professionals as much as you do. more than likely, they enjoy being valued for their knowledge and experience.

more: what are you selling? | three critical factors drive the value pricing trend | accounting disruptors are heading your way … with deep pockets | the convergence of trends makes pricing changes imperative | stop looking for talent that does not exist | advisory work must be priced by value, not hours
exclusively for pro members. log in here or 2022世界杯足球排名 today.

given the choice between being valued for their time or valued for their professional accomplishments, which do you think they’d prefer? valued employees are happy employees!

six steps to start value pricing

may 17, 2024

by jody padar

change is inevitable. value pricing has reached this critical stage.

by jody padar
radical pricing – by the radical cpa

can you remember doing business before cell phones or social media? you really don’t have to be too old to remember because change happens fast. in fact, if you are over 50, you probably remember when every home had a landline, firms advertised in the yellow pages, and accountants charged hourly for mundane compliance tasks.