How A Bookkeeper Got A 6-Figure Fee Using Value Pricing

bookkeeping value pricing Feb 27, 2020

I got an email recently that completely blew my mind.

When I saw it, I couldn’t believe what Carla was telling me…

I was absolutely astounded by this result. Not only had Carla got an incredible 6-figure fee, but she had done it only one month after discovering value pricing, on her first attempting, in just 2 hours with the client!

I had to reach out to Carla to find out exactly how she achieved this amazing result. She agreed to an interview. It’s 29 minutes of pure gold! I suggest you watch it now.

Meet Carla Davidson

Carla started her bookkeeping practice small, by herself, from her house.

She struggled with the amount of work, and couldn’t make a decent profit because she was still using hourly billing.

She wanted to be able to help her smaller clients so started hiring people to help, but things didn’t improve right away.

Hourly Billing Became A Big Issue

Carla found that, because she was using hourly billing, all her clients were asking for a breakdown of her work.

They wanted to know what work she was doing to see how she justified her prices.

It can be difficult to justify prices based on time, so Carla found herself constantly defending her prices…

“It was so hard because I had to keep explaining myself and I was so busy I didn’t have time to educate and teach my clients about my value. I wasn’t even valuing myself.”

Hiring More Staff Only Made It Worse

Overwhelmed with the workload, Carla decided to hire more staff to ease her burden. But the opposite actually happened.

She realised that whilst she knew every procedure and system in her head, passing that information to staff was rather difficult.

She was already busy, but now she had to train her staff as well.

This burden was the cause of great stress for Carla and it prevented her from doing the business improvements she really wanted to be doing…

“I was always focused on the job itself and getting things done. Everything else falls through the cracks so you’re not doing what you need to do for your own business, for your own sanity.”

Carla Cracked Value Pricing In A Month

Desperate for a solution, Carla discovered value pricing and signed up for my course…

“This is exactly what I needed. I signed up for the course ‘How To Price Bookkeeping’ and it was the best thing I’ve ever done. I wanted to do it quickly because I needed to feel better and make my clients happier too. I can’t be explaining myself all the time and teaching all the time.”

She worked her way through the course in record time by completely removing herself from her business and dedicating a whole month to learning.

She mastered all the concepts and decided to test it out in a meeting with a new client.

She ended up signing a contract for an annual fee of C$128,880.

She Doubled Her Prices

Hourly billing was out the window!

She expected this client to say her prices were too expensive, considering she used to charge HALF that amount.

But he agreed straight away!

Before this, she had been seriously underpricing herself, that’s why she was struggling so much.

Now To Try On Existing Clients

Carla was more concerned about repricing her existing clients.

She tested her process a few days after her first success, on a particularly difficult client who was always asking for a reduced price.

She invited her in for a meeting and explained in detail the work she does, the reason she is moving to value pricing and why it is beneficial to the client, and thoroughly explained her value.

The client had no idea Carla did all these things for her.

She forgot all about wanting a lower price and signed up for a package 30% higher than her original price.

Boosted by her winning streak, she met another existing client.

She had the meeting exactly the same, but the outcome was much different.

The client decided the price was too expensive and refused to work with Carla.

Rather than panic and start discounting, Carla held firm on her price and let the client go…

“If they don’t want to stay with you, and they don’t value you, well, maybe they’re not a good fit for you. That’s what I thought. I needed to be confident on that and confident in myself that if they trust me and they like me and they value my job, they will stay.”

So that client left. But a month later he called Carla up and asked to go through the package again.

Clearly, Carla’s value could not be matched anywhere else, so he had to come back. He ended up signing for a package at 60% higher than his original price.

Value pricing has made such a difference to Carla’s business, and to her own confidence.

She achieved all of these results within just a month of discovering value pricing. Her enthusiasm and belief in the value pricing concept has helped her to double her prices and save her from overworking and stressing.

I really recommend you watch the full interview here to hear in more detail how she achieved all of these results.


INTRODUCING BOOKEEPERS' PRICING ACADEMY

Carla got these results using my How To Price Bookkeeping course. You get access to that whole course, plus over 4 hours of live training every month (plus tons of other bonus resources) with the new Bookkeepers' Pricing Academy

Join now and get the first 30 days free. If you sign up before the end of April 2020 and use Coupon Code: BPA50PCAPRIL you can get 50% off for life. Click here to find out more.

If you would like to learn more about value pricing, I run a free monthly online training session which you can attend and ask me questions live. Click here to register and I will send you an invitation to the next session.

And if you would like to join a community of like-minded accounting professionals learning to price more effectively and confidently, you can join my Facebook Support Group here.

Wishing you every success on your pricing journey.

Mark Wickersham

Chartered Accountant, Public Speaker and author of Amazon No.1 Best Seller, “Effective Pricing For Accountants”

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