The Value Pricing Podcast

You may think that by narrowing your area of expertise you will drive away a lot of clients. Well actually – that’s true. But you will be driving away the clients that you don’t want to work with. The PITA clients, the one’s that will moan about your prices, the ones that work in industries that you don’t really enjoy working with. When you niche, you drive away the people that don’t fit your busi...

Do you ever find people tell you, “that’s expensive!” when you reveal your price? One of the biggest reasons for this is they simply don’t understand the value you offer. The words “that’s expensive” are an automatic response people often give when they are shown a price.  It does not mean you are too expensive. It means you have not communicated your value effectively enough. In fact – most of the...

Increasing the prices of your existing customers is the quickest way to increase your profits. And it’s easier than spending money, time and effort bringing in completely new clients that you then have to onboard, spend time getting to know their business and doing all that initial work.  Your current clients already know you, like you and trust you. It’s far easier to sell to them. So, how do I r...

So, you’ve moved away from hourly rates and you’ve given a fixed price up front – great!  But then your workload unexpectedly increases because: 📈 Your client’s business grows 🤦‍♂️You were missing information 🙏 The clients asks for a little extra job 🤷‍♀️ Something unpredictable happens When these things happen, it’s called scope creep (the scope of the work is increasing). And as you already...

Clean-up work is a bit of a pain in the ass to price. I once had someone bring all their receipts to me in a McDonald’s Big Mac box (and there was sauce and bits of lettuce over everything - yikes). I had no idea what problems were lurking in there. There are so many uncertainties and unexpected problems that you don’t figure out until you are halfway through the job. A client might say they are u...

Billing a client based on how long a job takes is easy – it’s the way we’ve traditionally priced in the profession…  …that doesn’t make it right.  Hourly billing is a terrible way to price for several reasons:   -        Your clients hate the surprise bills -        It’s not an effective way of pricing (so you make less money) -        You and the client have conflicting interests (it’s actually k...

Are there services that you do completely free of charge for your clients? Do you charge for Mortgage Reference Letters? Do you charge for Dormant Company Accounts? Do you charge for setting a client up on a Cloud Accounting System or other apps? Then, my questions is - why are you doing them for free? If the service is valuable to the client, you should charge for it. Now, I understand that these...

Value Pricing is based on providing the client with the highest possible value, and then charging based on that value. The problem is, everyone values things differently.  Value is subjective. It’s to do with individual perception. So how do you find out exactly what people value? It’s simple - ask them. When you first meet with a client, you should have the ‘value conversation’ with them. In this...

Here’s Why Your Customers Aren’t Buying More From You First of all, you have to actually offer the client more things to buy. This sounds obvious, but you’d be amazed at how many firms don’t actually do this. If you have additional services, extras or bonuses that you can add-on to enhance the client’s solution, you should make the client aware of them, and make them readily available at every pos...

You Can’t Compete With Competitors On The Price (and you don’t have to)! There are always going to be firms down the road that are constantly under-cutting you with their insanely cheap prices and stealing your clients. But you shouldn’t be worried about these firms - in fact you should pity them. If their prices are so cheap, how are they ever going to make any profit?  And if your clients are go...

If You Only Ever Give One Price, That Price Is Wrong - Guaranteed Everyone is different. We want different things, we value things differently, and we will spend different amounts of money to get those things. If you only ever offer one single price, or one single hourly rate, to all of your clients, it is impossible for that price to be right for every single one. If the price is too high for the...

The Accounting Profession Has ALWAYS Underpriced Their Services When your prices are too low, it can have a big effect on your business and your own life… Most accountants and bookkeepers I know are overworking, chasing clients for payments, losing out on time with their families, getting stressed and exhausted - and all for a measly little profit!  It’s time to make a change. It’s time to raise y...