pricing

yes, you can work less and make more

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erik solbakken: build the firm of your dreams.

 

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the disruptors
with liz farr for 卡塔尔世界杯常规比赛时间

q: why did the accountant cross the road?

a: because they did it last year.

erik solbakken, a.k.a. “the heavy metal cpa,” is on a mission to free accountants from an oppressive business model. solbakken spent 18 years working his way up to be a partner in a firm in canada, but when the partnership fell apart, he was liberated to create a new kind of firm, where he and his staff never worked overtime and he made more money. today, he acts as the guide he wishes he’d had when he started out, empowering accountants to create firms they love working in.

more: donny shimamoto: future firm growth requires a mindshift | jennifer wilson: empower young workers to build the firm everyone loves | mike whitmire: re-think your hiring and training practices | hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson

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

how do you get away from the commoditization trap? simple, deliver to the client the transformation that they want for themselves.

solbakken said the profession has brainwashed us into believing three lies:

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ed kless: clients don’t want outputs. they want outcomes

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the disruptors: too busy? raise your prices.

 

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google, spotify, iheart, deezer, amazon music and audible, player fm, audacy, gaana (india), and boomplay (africa).

the disruptors
with liz farr for 卡塔尔世界杯常规比赛时间

what do clients – or, as ed kless prefers, customers – want from their accountants? it’s not the tax return or the financial statement but the outcome for the customer, which is most often peace of mind.

to remain relevant in disruptions like online tax preparation and automated bookkeeping tech firms like pilot, accountants need to consider other ancillary services they can provide above and beyond those basic services.

more:  seth fineberg: your classic business model won’t allow growth | hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson

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

“when you bill by the hour, when you have to measure your time, and when you tell the customer, ‘pay attention to my efficiency because that’s what i’m going to charge you,’ then they start looking at your efficiency instead of your effectiveness, which is the wrong thing to be looking at,” kless explained.

additionally, kless said cpas who are “too busy” need to raise their fees.

he said, “one of the mantras in pricing is innovating for growth, pricing for profit. when an organization wants to grow, the focus has to be on innovating, creating new things to offer, not necessarily what we used to be called rainmaking, which is getting more customers.”

kless maintains that accountants or cpas should strive to be the first person called, no matter what the customer wants, whether it’s super bowl tickets or a recommendation for the best medical team in an emergency. but experimenting with adding additional services or converting to a subscription-based business model will not be possible for firms that remain wedded to the timesheet, which, kess said, quoting ron baker, is cancer of the accounting profession.

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quoting tax resolution fees

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5 scenarios with fee quotation breakdowns.

by jassen bowman
tax resolution systems

one of the most common questions i get from practitioners adding tax resolution services to their service offerings has to do with fees. many practitioners see the benefit of offering flat-fee service options, while others choose to stick with their existing hourly fee model.

more on tax resolution: basics of tax season work flow | overcome objections in 7 steps | how to reactivate lost clients | don’t ignore your existing leads | some office nuts and bolts | the importance of goals and affirmations | market to your ideal clients
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

these are some example of how i quote fees when running a high-volume tax resolution practice. these scenarios do not represent any one particular client i’ve had. rather, they each represent dozens of similar situations i’ve worked on. these scenarios are the norm if you’re focusing on 941 representation. for completeness, i’ve also added a 1040 scenario as an example.
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timesheets: the nuclear option

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lamentations on the billable hour: jamey johnson’s “the dollar.”

nuke ’em: kill timesheets before they kill the profession.

by ed kless

the litany of “challenges for the profession” repeats the narrative that has been well documented and continues to grow for over the last decade:

  • while there are more people graduating with degrees in accounting, fewer of them are sitting for the cpa exam. this is leading to fewer new hires for firms.
  • the new hires they do have are “millennials” who desire a challenge and think they should be made partner sooner rather than later.
  • attrition, especially at the mid-career level, is over 10 percent and is mostly initiated by the professional, not the firm.
  • the loss of people in the middle and bottom of the pyramid is eroding the traditional economic model. non-equity partners are increasing and funding for partner buyouts is disappearing.
  • cries of “we must become more efficient,” and/or, “we must embrace new technology,” and/or “we must hold people more accountable,” reverberate in meetings.
  • compliance work continues to flatline and while new offerings are growing revenue, they are not growing fast enough. worse still those that do this work are often not even cpas!

more ed kless at 卡塔尔世界杯常规比赛时间: your time has no inherent value  |  ed kless: what is strategic pricing?  |  ed kless on factors affecting price sensitivity  |  a radical close look at value pricing  |  billable hour in the extreme  |  the four factors for fixed pricing

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

presentation after presentation is viewed on the modern equivalent of the campfire, the conference room projector. “our profession is sick, even dying. we might have cancer. we really don’t know, but it is bad.” it’s true, the profession does have cancer. the good news is, we know the cause and it is curable.

it is called “a timesheet.” it be must cut it out completely before it kills.

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

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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2 rules for getting your pricing right

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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

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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

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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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