7 Ways to Become the Sought-After Expert

I want to share seven powerful ways to become a sought-after expert. To become the person clients are queuing up to work with.

 

 

If you prefer to watch the video, you can watch the video here.

 

#1 Write a book or e-book

 

I can already hear you thinking “I can't write a book. I'm an accountant. And anyway, where would I find the time?”

The good news is that nowadays technology makes it much easier than you think. One process I teach shows you how to write a book in less than seven hours. And whether you work in tax planning or business growth, your book will ensure you’re seen as an expert and win you business.

 

#2: Blog – regularly

 

Regularly is the keyword here. Blogging once and then forgetting about it won't establish your credibility. You need to post at least once a month or, even better, once every fortnight or week. One tip is to write posts in batches – if you try to write one a week, things always crop up to...

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The 3 Reasons You Should Have a Brochure

value pricing Aug 29, 2016

A glossy brochure doesn’t only grab people’s attention. It also increases what they’re willing to pay.

 

In this post, I want to share three reasons why you need to have a professional-looking brochure for all your accounting, bookkeeping and tax services.

 

# 1: The Power of Context

 

The Power of context is part of price psychology. What it means is that the context in which we deliver our solution influences people's expectations of what it will cost.

Back in 1983, one of the world's leading behavioural economists, Richard Thaler, carried out an experiment to prove this. He asked a group of executives to imagine they were lying on a beach on a hot day, and that a friend offered to get them a beer from the only place nearby – a small run-down grocery store. When he asked the most they’d be willing to pay, the average was $1.50. But, when he asked another group, changing the grocery store to the bar of a smart hotel, the average...

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How To Move Existing Clients To Your New Way of Pricing

value pricing Aug 22, 2016

Would you like to increase profits? Then perhaps it’s time to move clients to a new way of pricing…

 

One of the most common questions I get asked is, "When we move to value pricing I understand how to use the new approach with new clients, but what about existing ones?"

It’s a great question, and it includes two separate issues. The first is simply about transferring clients to a new way of pricing.

You can watch the video here.

 

What does every customer want?

 

Research shows there are two things every customer wants:

·       certainty – about what they’re getting and, most importantly, its price

·       choice – everyone has their own wants, needs, and things they’d like to avoid.

The problem with time-based billing is it doesn’t meet either. First, a price based on time means there's no certainty. Customers won't know the price until the...

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The Value Pricing Process

value pricing Aug 15, 2016

The 3-step value pricing process


 
Value pricing for any accounting, tax or bookkeeping service is easy if you follow my structured step-by-step process.

“So, what do I need to do?” I hear you cry.

 It’s easy.

 

The 3 step process

 

Step 1 - Create value

 

Value pricing doesn’t work if you don’t actually create any value. You want to create the best value for your potential client as you can.

So this is the first step. Look at your solution – whether it’s bookkeeping, annual accounts, payroll or cash flow forecasting. Think about how you can create as much possible value as you can.

Think about the different packages and what you can add in to make a real difference to the lives of your clients.

 

Step 2 – Communicate that value

 

Next comes actually sharing that good news. Communicating the value. 

The best way of building up your value proposition is through a conversation with the client....

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Two BIG Pricing Mistakes Many Accounting Professionals Make

value pricing Aug 08, 2016

As an industry, we don’t want to make mistakes.

Yet time and time again I see two massive mistakes that accountants and bookkeepers keep making. And it has a real impact on their businesses.

So what are those mistakes and how can they be avoided?

 

Mistake 1 – Using fixed prices on a website

 

Don’t do this. Seriously. Don’t.

Fixed pricing is not value pricing. You cannot value price until you have found out what actually constitutes value for that particular person. The only way to do that is to have a conversation – either face-to-face or online.

Understand the potential client’s circumstances, what they value, what they want, what they need and what their pain points are.

You need to understand all that before you even begin to price.

As well as implying you don’t understand the client’s needs (beyond price) fixed prices on a website are usually far too low.

It’s no surprise really. We are used to using the internet...

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Fixed Pricing is NOT Value Pricing

value pricing Aug 01, 2016

Fixed Pricing is a bad idea – it’s NOT Value Pricing

 

Fixed pricing isn’t just a bad idea. It’s a really, really bad idea.

Why?

This video explains why.

When I started teaching pricing back in 2000 almost every accountant priced based on time. In the last 15 years or so attitudes amongst accountants changed. They realised the old way no longer worked and that a move to value pricing was more sensible.

That’s great.

But that’s not necessarily what has happened.

 

Struggling with the concept

 

Many people are struggling with the concept and instead, time and time again I see fixed prices.

Bad idea remember?

Ok, so it’s better from the customer’s point of view because it’s no longer based on time. Except it is. It’s based on the accountant’s or bookkeeper’s best guess as to how long a job will take.

It has nothing to do with value to the customer.

It’s even worse when someone has a...

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Why The Old Way of Pricing is Unethical

value pricing Jul 18, 2016

Why the old way of pricing is unethical

Actually, I don’t just believe that the old way of pricing – time-based billing – is unethical. At times I think it actually borders on negligence.

But why?

A few years ago AVN founder and head of research Steve Pipe and I were involved in a research study that looked at more than 150 accounting firms to find out what the most successful were doing differently.

As part of the study we looked at what proportion of errors those in the survey found that a previous accountant had made when they took on new clients.

The results were staggering. 45% of firms found mistakes made by the new client’s previous accountant. 42% found things the previous accountant had missed.

Such figures are worrying.

And, whilst you may not think you make mistakes, perhaps one day ask the same question of accountants that have won work from you. You might be surprised.

 

So why does it happen?

 

It’s not like we don’t have...

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The Two Things Every Customer Wants

value pricing Apr 18, 2016

When your customer buys from you there are two things they want.  Every time.  You must understand these.

So what are these two things? 

 

Your customer needs CERTAINTY

 

When you buy you want to know exactly what you're getting and how much it’s going to cost. The problem is, the old way that as a profession we’ve priced - time-based billing - is a redundant way of pricing, and by definition pricing based on time gives no certainty for the customer.  Whilst you might tell them your hourly rate, they will never know until the job is done how many hours it will take. So we must get away from time-based billing because customers hate it.

 

Your customer needs CHOICE



The other important thing for a customer is CHOICE! We want to have the freedom to decide things on our own, to make choices because we are all different. We want a solution that meets our own specific needs.

As an example, think about the most profitable company on the planet...

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Meet The Most Incredible Bookkeeper

I recently caught up with Jane Aylwin who is, quite simply, an extraordinary bookkeeper.  During our interview, she told me how – in the last 5 months – she had added £53,000 in fees, almost entirely from pricing (which means most of it goes straight to bottom-line profit) in a different way.

She started off, just like many bookkeepers, working from her kitchen table.  And getting OK results.

But those OK results got worse and worse as her business grew and she took on people to work for her.  Her old pricing models were no longer working.

 

The big epiphany


A few months ago, on the way to a client she had a big realisation… she needed to do something different.  Otherwise, she’d keep getting the same results.

That meeting with a client was the first of 4 meetings that week; a week she now describes as her ‘week of wow’.  In that week she had a pricing conversation with each of those 4 clients…

…...

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