pricing rates

four considerations when standardizing client tech stacks

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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
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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.

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digitize clients for standardization

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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
goprocpa.comexclusively 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.
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disruptors: cut 90% of your clients with dominique molina

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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 |

goprocpa.com 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.

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six steps to creating a standardized practice

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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
goprocpa.comexclusively 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

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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 |

goprocpa.com 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.

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four ways automation pushes the paradigm shift

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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
goprocpa.comexclusively 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:
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are you the key signal caller for your clients?

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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
goprocpa.comexclusively 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.
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value pricing requires defining your clients

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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
goprocpa.comexclusively 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.

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