Episode 26

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Published on:

1st Apr 2022

Pricing: How do you price your value?

This is the third episode we've done on pricing and today we tackle how to pricing the value added services you provide. Take a listen to the previous episodes as they do build on each other. As we've said before we're not pricing experts, instead we've shared our insights from being in practice and working with firms to help them implement a practical pricing model. We've attempted to keep it simple and do talk about an hourly rate for the value add services - when you are thinking critically about your clients business. In fact we recommend building it into your back-end pricing model - factor in and calendarize this time to focus on where you can add value to your client's business.

Importantly this time isn't to come up with all the answers - instead this is the time come up with the questions to ask your clients when you meet. What's driving this trend? The report says this, what's the impact of that? Your labor costs are increasing...And it's ok to charge for this time by the hour - but make sure it's at your premium rate. From these sessions will come a bunch of value add work - be ready to book in the follow up meeting.

Let us know what you think this episode on pricing - and if you'd like to talk about your firm's pricing and updating it - get in touch with us on LinkedIn.

Penny Breslin - LinkedIn | @PennyB57

Damien Greathead - LinkedIn | @Damien_GH

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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.