This is the story of Elnize Goosen who has been putting the value pricing foundations in place for the last few years and transforming the results of her firm.
Of course, if you would prefer to watch the full interview, you can find it on my YouTube Channel here, https://youtu.be/16t46EYwGC4
Elnize Goosen’s firm, DGE Chartered Accountants and Registered Auditors, is based in Centurion, South Africa. They are a fully virtual, cloud-based firm.
Previously, Elnize worked in a corporate firm. However, the firm that she was working for merged with another firm, and they had a finance department already. Elnize was declared redundant. In a recent interview together, Elnize told me, “I was about six or seven months pregnant at that stage. And I was declared redundant, and I lost my job. It was a shock! But for a while before that my husband Daniel had been nagging me to start my own firm. That was the...
You must review prices regularly. After all, circumstances change. One of the most common questions I get from the accountants and bookkeepers I work with is how to re-price existing clients, particularly when the current price is far too low, and the price hasn’t been changed for some time.
This is a huge opportunity for you to significantly improve your profit. Here’s a case study to help illustrate that. It is based upon an interview I did with an accountant called Stanley Dean in October 2021.
If you would prefer to watch the full interview, you can find it on my YouTube Channel here: https://youtu.be/JMbt8Sxvz8Y
Stanley Dean runs a firm called SDA CPA Group in Atlanta, Georgia in the USA, and has been in business since 2003. When he started his firm, as a CPA Stanley believed he knew everything about running an accounting practice. However, it wasn’t until he got into it that he realised he...
This is the story of Carol Kostachuk who is now much more confident with pricing. She knows she does not need to win every client and she uses a meeting fee to pre-qualify.
If you would prefer to watch the full interview, you can find it on my YouTube Channel here: https://youtu.be/O7nxDdBzyOU
Carol is based in British Columbia, Canada, and has been in business for over 24 years. She started in a position where she was doing administration and bookkeeping. But Carol was working crazy long hours, going to work at 5:30 in the morning and not getting home till 5:30 at night.
Then, when she was off on maternity leave, Carol spoke to her friends that were already in the bookkeeping business right out of school, and during her maternity leave she started her own business.
Since then, Carol has completely transformed the way that she prices from the old-fashioned way of time-based billing. I spoke with her recently to...
You need to systemize the process of communicating value. Words are so important. The wrong words will get the “That’s expensive” reaction we all hate. The right words will get the client to buy and buy at higher prices. There is so much at stake with the words we use.
You can systemize the communication by creating standard scripts, proposal templates and pricing brochures for your core accounting services.
This is a story from Jhonatan Aldama, who is getting great results from pricing. If you would prefer to watch the full interview, you can find it on my YouTube Channel here: https://youtu.be/K3DoPgayFJc
Jhonatan Aldama’s firm Nuve is based out of Austin, Texas. They are a virtual accounting firm serving clients all across the US and launched in December 2020.
In a recent interview together, Jhonatan shared with me some of his major pricing struggles that he faced...
This interview with Kimme Lafayette demonstrates what is possible when you have a system for value pricing. Read it carefully, there are many learning points.
Even better, watch the full interview which goes into further detail. You can find it on my YouTube Channel here: https://youtu.be/-3CJZYRGZps
Kimme is located in Southern Ontario, in the Niagara region, and she’s had her business for about seven and a half years. Kimme focuses on bookkeeping, sales tax filings and payroll tax filings – focusing on being involved with her clients on the day-to-day stuff.
In a recent interview, Kimme told me, “When I started my business, I had been working as a bookkeeper for a company and they were changing all of their staff to subcontractors, and they dictated what my opening rate was going to be - $25 an hour instead of the salary I’d been on.”
This was a challenge for Kimme because...
This is the story of an accountant who has really mastered the value conversation. You can find it on my YouTube Channel here: https://youtu.be/PYUcIXFWEeY
Neil Criddle is based in Weston-super-Mare, in the Southwest of the UK. Prior to starting his business, Neil had about 12 years in industry working for lots of large corporates including veterinary, financial services, construction and telecom industries, but no experience with an accountancy firm.
In a recent interview I had with Neil, he told me, “As I got further into my career, I wanted to help people, but in my own kind of way. I’m not a massive fan of following the rules if I think the rules aren’t fit for purpose for the end user. I was doing a lot of good work and getting frustrated by the fact that I couldn’t help people in the way that they would have benefited from because of political red tape and hierarchies. So I started my...
Over the course of 2021, we've added LOADS of exciting new features to Effective Pricing, some of which came from your own great ideas and suggestions.
Here are all the new features added to Effective Pricing over 2021 in case you missed any:
Effective Pricing had some updates which went live at the end of January 2021 relating to proposals. Here is a quick summary of the main changes:
In the top left you could only see 3 of your proposal pages at a time which made it cumbersome managing page ordering with lots of pages. There is now a new icon allowing you to expand or contract the list of proposal pages.
We removed some of the headings from the standard pricing tables you can embed in your proposals. For example, the “Questions” heading on the table where you show your client how they...
I am frequently told by my students in the Value Pricing Academy that price psychology is the most fascinating and powerful aspect of pricing.
In this interview with Jan Baudat, she talks about how she re-priced her clients. Look out for how she uses quantification, the contrast principle, and creates a new anchor when re-pricing.
If you would prefer to watch the full interview, you can find it on my YouTube Channel here: https://youtu.be/9SPxX_P3EM0
Jan and her husband Michael are the owners of QB Jan LLC DBA: FitBooks, a business cash flow management service. Together, they handle bookkeeping and remotely support over two dozen QuickBooks Online and QuickBooks Desktop clients. Jan currently lives in Cornville, Arizona (near Sedona), and is planning to move to the Weatherford, Texas area in the fall of 2021.
Jan shared with me how she used to struggle with pricing, having not put her prices up in three years, and...
In my last blog post, in this series about getting more stuff done, I talked about the importance of energy and how we can find more energy to promote productivity.
In this blog post, I share with you how to get more clarity in our lives, as well as some of the biggest time-wasting distractions that get in our way, and some tips on how to limit them.
To get more clarity in our lives, what we need to do is figure out what our goals are. What do you want your life to look like? What do you want your business to look like?
Have you sat down and thought about your goals and where you want to be? Because a lot of people haven’t done that. So they’re working really hard and putting in lots of hours, but they’re not really going anywhere because they haven’t got that clarity.
One of the foundations that I like to teach is called Vision to Plan, which is a process that I’ve been doing now for 15 years. Because things...
Do you ever struggle with feeling overwhelmed?
We all do.
Because no matter how successful we are or how much stuff we manage to get done, we always want to get more done. So we start to feel overwhelmed and down for a while.
But largely we feel overwhelmed because we drive ourselves too hard. Or, sometimes, it’s because we’re lacking clarity.
In this blog post in a series on how to find the time to get stuff done, I’ll take you through why energy is so important for productivity, and how you can find more energy.
Have you ever had those mornings where you’ve gotten to your desk with a big to-do list that’s been preying on your mind, and you sit there and just think, ‘I’m tired, I can’t, this is too hard, I can’t be bothered’? And the morning drags by because you’re so tired and overwhelmed.
When we feel like that, it’s because we aren’t bringing enough...