hint: you don’t have to do it all at once.
by michelle long and sandi leyva
we know some of you might be afraid to raise prices, but there are some painless ways for both you and the client.
more small firm growth strategies: building reputation to build your business | 3 killer lead generation channels | your existing clients are your best leads | need more business? focus on referrals
exclusively for pro members. log in here or 2022世界杯足球排名 today.
here are five:
if you just pay people and move on, you’re missing critical information.
by ed mendlowitz
question: i keep timesheets for billing purposes but am not clear how i can use them to better manage my practice. how can i do this?
more practice doctor q&a: why more firms are trashing timesheets | how much overhead is too much? | when partners stop growing | clear billing procedures make collecting easier | change your thinking about ‘small’ clients | it’s not sales. it’s your duty | when staffers stagnate | when to hire an admin assistant | why the average fee doesn’t matter | 8 times when hourly billing trumps value pricing | 10 (nearly) painless ways to keep up to date with technology | 5 time management tips for an overworked accountant | running an accounting business | 14 ways to switch to value pricing
answer: analyzing time records is a very effective practice management tool and is an essential part of most professional services organizations. some people contend that timesheets should not be used since they should not be the basis of any pricing, with fees solely based on the value to the client.
bonus checklist: the 3 prices you need to set.
by jody padar
the radical cpa
you should know your relative costs and assumptions to value. when i say, “know your cost,” you’re not going to know every freaking minute that it takes to do something. but you should know approximately what the accounting file is like.
when you’re thinking about pricing your cleanup work with either a cloud-based product or let’s say you’re not even in the cloud, you should have already done a diagnostic on that quickbooks file or whatever accounting software the prospect is using.
more on radicalism: a radical close look at value pricing | let’s get radical about content | each social channel has a language | get ready for radical transparency | 5 radical ways to be social and strategic | how social media transforms firms to their core | 10 radical steps into the cloud | six competitive advantages for the radical cpa | radical customers are on their way | the market is moving toward the radicals | 5 radical transparencies; are you ready? | being radical is all about your customer | being radical starts with being the change | why should cpas be radical? | the roots of ‘radical’ cpas
you also should analyze the five traits of their financial personality:
tips for handling everything from late payers to extra services to minimum fee schedules.
by ed mendlowitz
question: can you give me some suggestions on overall firm pricing and billing methods?
more practice doctor q&a: there’s more to growth than marketing | how to make staff a team again | before you even think about selling your practice | how to make annual staff evaluations work | change your thinking about ‘small’ clients | why adopting new technologies is a must | when fees don’t keep up with cost increases | lowballing and why it (usually) doesn’t work | what goes in a client’s permanent file? | why the average fee doesn’t matter | how to apply value pricing to bundled services | 6 ways to take a client beyond tax prep
exclusively for pro members. log in here or 2022世界杯足球排名 today.
answer: here’s how we’ve handled the billing and collection process at my firm.
with an eight-point analysis of your firm’s pricing strategy.
by august aquila
creating the effective partnership
all you need to do is think of any services, professional or commercial, that you have purchased over the last few years. 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.
more for pro members: how to combine two firms after merger: carefully | six new year’s tips for leaders in tax and accounting | mirror, mirror on the wall | 6 steps to handle staffing problems in a merger | new times call for new cpa firm metrics | 6 reasons why cpa firms fail in innovation | 7 signs your firm is headed for an implosion | why is it always about partner compensation? | why merge and what to watch out for | 13 steps to fool-proof mergers and acquisitions | 13 questions to ask yourself for personal growth | partner problem? first, ask yourself these 21 questions | 12 reasons cpa firm staff meetings are a waste of time | the managing partner’s secret weapon in change management | the 10 basic ways to boost profits at an accounting firm | 12 must-do items for your partner retreat agenda
when pricing your services you need to carefully analyze the three key factors
for example, it’s hard to get a premium price for a basic 1040 return because there are thousands of competitors offering the same service as very competitive prices. however, if you are offering litigation services for high net worth divorce cases, then you need to look at the unique characteristics of your services, what is potentially at risk for your clients and the firm’s overall marketing and pricing strategies.
to find out how marketing oriented your firm’s pricing strategy really is, just complete the following brief pricing strategy questionnaire. there are no incorrect answers. the purpose of the survey is to give you a snapshot of where you are today. you goal, then, is to lay out a plan to get you where you want to be tomorrow. read more →
auditing and tax rates continue to inch upward.
pricing strategies and trends in tax and accounting
join the survey. get the details.
by 卡塔尔世界杯常规比赛时间 research
the pricing index at cpa firms stands at 116.8, just one-tenth of one point below the six-month average for the year, suggesting firms are maintaining their strong grip on fees. read more →
live online cpe at july 28 virtual conference. in its fifth year, the ultimate accounting vcon is now offering day-long summer intensives on selected topics. the next one, how to implement value pricing and give yourself a raise is july … continued
here are just 19 factors.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
question: i am in process of buying a practice and would like to know how much to pay.
more practice doctor q&a: when fees don’t keep up with cost increases | when large (or any) clients need backup assurances | 18 ways to blow a partnership opportunity | 10 do’s and don’ts for making small business clients happy | 10 ways to get new 1040 clients | before you even think about selling your practice…
answer: an alternative question is how much to sell it for. this is a complicated issue with many important variables, some of which are:
it’s not too late in the year to make changes.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
question: my expenses have crept up greater than my fees. what should i do?
more practice doctor q&a: lowballing and why it (usually) doesn’t work | when is it time to merge? | what goes in a client’s permanent file? | why the average fee doesn’t matter | no more printouts at cpe programs? | how to apply value pricing to bundled services | 6 ways to take a client beyond tax prep | 18 ways to blow a partnership opportunity | when experience doesn’t add up | 8 times when hourly billing trumps value pricing | 6 ways to know what you don’t know | 10 do’s and don’ts for making small business clients happy | client’s difficult daughter balks at bill | 6 simple steps to impress a prospect
answer: very important to increase fees at least enough to keep up with your increasing costs. here is a story i have told dozens of times at speeches. this is one of the things i wrote that i really like. in case you wonder, i have given a copy to freddie.
not all data is relevant.
by ed mendlowitz
the practice doctor
question: what is the average fee that your firm charges for a review? assume the company is approximately $10 million in sales and $3 million in assets.
answer: what is the average size suit men wear? this might be nice to know but it is not relevant to any specific situation. read more →
don’t confuse it with value billing.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
question: i tried value billing and it didn’t work. i would rather bill my business clients on a fixed fee for my services.
response: actually, you are value pricing when you do the fixed fees. you confused value pricing with value billing. value pricing is where you sit down with the client and you jointly determine the price before any work is done.
more practice doctor q&a: 18 ways to blow a partnership opportunity | 8 times when hourly billing trumps value pricing | 10 do’s and don’ts for making small business clients happy | 10 (nearly) painless ways to keep up to date with technology | 23 reasons clients really need you for taxes | running an accounting business | 14 ways to switch to value pricing | pricing, billing, costing: don’t blame clients
value billing is where you try to get an extra payment after the work is done. i believe the best way to determine a fee for recurring services is to set the fee with the client in advance of performing any work. i’ll explain. read more →
and when it doesn’t.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
question: i am trying to switching to value pricing and am having trouble getting completely away from time-based billing in certain situations.
response: value pricing is a great method and concept. i suggest reading, and thoroughly understanding ron baker’s “implementing value pricing: a radical business model for professional firms.” i like what he suggests, have used some of his techniques even before he started writing and speaking about them, and recommend it in many situations.
readers’ forum: hours worked. firing clients. setting prices.
