Follow Michele Riffe on Her Journey to Value Pricing
Meet Michele, a veteran pro with a stable client base who wants to shift her focus to fewer, higher-value clients. She’d like to more confidently convey why her advanced services that help clients grow are well worth the price.
Oh I detest it when the first thing somebody says is, "How much do you charge an hour?". You know, like before they can even start the conversation about what is it that you do need.
The name of my business is Sherwood Financial Business Solutions. My office is located in Owatonna, Minnesota. It's a small town 60 miles straight south of Minneapolis.
I've been an accountant for over 25 years. I've always had a home office. My primary focus is QuickBooks consulting and technology and business solutions. I use QuickBooks products, QuickBooks Pro, Premiere, Enterprise, QuickBooks Online. I'm also an Intuit authorized reseller.
I'll get back to you on Wednesday at 9:00 if that works for you?
The technology helps me do my job more efficiently because I can be unfortunately on 24/7. We went on a vacation a couple of years ago to Punta Cana and I did 3 payrolls because I can log in remotely. I have 2 laptops and a desktop and then I also have a Mac. All of them are set up with dual monitors so I can bounce from one to the other so that I can work more efficiently.
My client base ranges from an automotive repair shop to a bridal store. I have a lot of construction people, blue collar, HVAC plumbers, that sort of thing.
Hey Sam, it's Michele calling. How are you
Currently when I bill clients it's a hodgepodge. Some of them are still on an hourly rate because I haven't converted them over yet. Some of them, the services that I provide are just a flat fee service.
There are 3 clients that I go see onsite. One is just down the road. The bridal shop is one of my newer clients.
Hi, how are you?
Good. How are you?
She likes a little bit of face time once in a while just because she understands the bridal industry but she will be the first to tell you that she doesn't understand QuickBooks or accounting.
More detail is always helpful.
Cut's down on me having to call you and say, "Hey, what's going on?"
I bill Marsha hourly and sometimes I do that in the beginning for the first year that I work with the client and the reason for that is I never know what's going to come up.
I've started the Value Pricing concepts already. I don't feel like I've perfected them by any means. I would like to start working with fewer clients that are higher value clients. I'm trying to do a little bit more of what I would call the advanced level work and that is to help them build and grow their business and I'd like to get paid more adequately and I know that I need help to do it.