Using Value Pricing to Grow Your Business
Explore the guide to getting the optimal price for your accounting services
Whenever we buy anything, we want certainty. That means certainty over what we are getting and certainty over the amount it will cost us. The old-fashioned way of pricing in the accounting profession does not give certainty. Pricing based on how long the work will take means clients do not know what the final bill will be until after the work is completed and the hours added up. They hate it. They can’t budget and plan for the cost.
There’s another big problem with hourly rates, too. When you give your clients an hourly rate, they will always see it as being expensive. It’s a common reaction because there is no perceived value in an hourly rate. Clients don’t come to you to buy time and so they see no value in an hour of your time.
Clients hate hourly billing because there is no certainty. So, does that mean the solution lies in fixed pricing? Absolutely not. Fixed pricing may be fairer for the client but it won't help you get paid what you're worth.
In fact, the solution is value pricing. Very few accounting firms are successfully value pricing, although the numbers are growing faster every day. One of the big problems is a lack of understanding of the subject. Download this ebook on to learn everything you need to know about using value pricing to grow your practice.