2 rules for getting your pricing right

businessman extending $100 bills fanned outare you leaving money on the table?

by martin bissett
business development on a budget

there probably is not a bigger issue in professional services selling than pricing. the war between timesheet and value pricing has been going on for some time now, with no sign of resolution in the near future.

more on business development: how to prepare for the first meeting with a new prospect | the five fastest ways to kill a new opportunity [video] | use this spreadsheet to evaluate prospects | before the sales meeting | lowballing is undervaluing yourself | do you have a pipeline or just a list? | overcome recurring fee apathy

pricing is a huge topic, and it’s not within the scope of this post to cover it in detail. i do, however, want to give you my two major rules for the pricing aspect of any proposals you present.
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8 questions to analyze your pricing

number 8 in gold

building a growth-centric pricing strategy requires analyzing 3 factors.

which pricing schemes are working best today?
join the survey; get the results.

by august aquila
creating the effective partnership

think of any services, professional or commercial, that you have purchased over the last few years.

more on leadership for pro members: what makes a successful strategic plan? | back to basics: 25 ways to grow your practice |3 ways to halt a poor leader | 8 questions that staff ask in a merger | the 4 best ways to use your senior partners | 11 steps to building a better partnership team | partnership is about persuasion

would you pay a premium rate to a bonsai gardener just to trim a regular tree or shrub? most likely not, since there would be many a gardener available to do this simple task. however, the price of an open heart surgery would not matter, if the operation would save your life.
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increase fees and keep (most of) your clients

growing stacks of blocks with an arrow tracing upwardbonus: a sample letter you can send clients.

by sandi leyva and michelle long
the ultimate accounting virtual conference

when is the last time you increased your fees? was it the past year, the past one to two years, over three years … or never? if you haven’t, you should.

how do you increase your fees?

sometimes it’s a sticky situation but you should start setting a policy where you’re going to increase your fees on a regular basis, maybe every year or two. that allows you to avoid having large increases.

if you haven’t increased your rates for five years and you have to go up quite a bit at once that will be harder for the client, but once they get used to an annual or every other year increase and accept it then it’s easier to keep your fees.

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