Episode 21

full

Published on:

3rd Feb 2022

Pricing: Don't Trash the Time Sheet...Yet

Pricing is difficult and by no means are we experts! We have made a lot of screw ups along the way however and we'd like you to learn from our collective mistakes. Pricing is part science, part art, and a bit of luck thrown in as well.

This is part one on pricing. Of how many episodes we don't quite know just yet. We decided to start with the billable hour and when it makes sense. Interestingly we both disagree with the trash the timesheet folks - we both believe timesheets play an important role in a firm as a productivity tool and a costing mechanism.

Time sheets can be a great place to start for your fixed pricing journey as it’s important to understand how long tasks should take to be completed with technology properly implemented.

Stay tuned for our next instalment on pricing.

Would love to hear your feedback ad comments on this topic.

Please get in touch if you’d like help with your pricing methodology via LinkedIn.

Penny Breslin - LinkedIn | @PennyB57

Damien Greathead - LinkedIn | @Damien_GH

Next Episode All Episodes Previous Episode

Listen for free

RSS Feed Apple Podcasts Spotify

Show artwork for Strategy and the Virtual Controller

About the Podcast

Strategy and the Virtual Controller

Helping accounts and bookkeepers build the firm they want, their way

Your hosts Penny Breslin and Damien Greathead have more than 30 years of combined experience in the accounting industry. This podcast is to share their experiences of working in, and consulting to accounting and bookkeeping firms of all sizes, helping them grow.

Nothing discussed will be rocket science, instead they'll be discussing 'how' firms have successfully, and not so successfully, pursued growth. Penny and Damien will be sharing their insights on how firms can be successful by focusing on their people (clients included), their technology, and their processes and systems.

Ultimately how successful an accounting business will be depends largely on how the owners manage change, which alongside taxes appears to be the only constant.

We do want to acknowledge David Maister's great read Strategy and the Fat Smoker: Doing what's obvious but not easy as the inspiration for our title. Buy it on Amazon - https://amzn.to/3dhcUFC

Subscribe today for an upbeat and practical conversation about what's working and what's not in accounting businesses around the world.

About your hosts

Penny Breslin

Penny Breslin is the founder of MoneyPenny, a consulting firm specializing in helping accounting firms and other businesses embrace the power of technology to simplify their operations and increase their profit margins.

Drawing on her years of experience and her knowledge of what it takes to run a successful business, Penny oversees the development of back office processes for her client firms. From the initial evaluation of the firm’s workflow, to technology selection, and assisting in the on-boarding of the firm’s clients, Penny works with her clients to maximize the benefits of a paperless and cloud-based firm.

Damien Greathead

Damien has been working in the accounting industry for more than 15 years. In addition to getting his hands dirty preparing tax returns and doing bookkeeping, but the bulk of his experience comes from consulting to both accounting firms and the technology companies that serve the industry.

He set up 2020 Group USA which was a membership group for small and medium sized accounting firms and then went on to set up Receipt Bank (now Dext) in North America.

He regularly speaks to industry bodies on technology, marketing and change management.