This particular topic is so vast, but we think it is important to start the journey sooner than later - and continue to educate yourself constantly.
During the session we discussed:
- the difference between Fixed and Value pricing (which we find a quite common question)
- biggest mistakes when value pricing
- why bookkeepers procrastinate about implementing value pricing
- what clients are buying vs what you can be selling
- what information do you need to place value on your services?
Finally, we looked at the first steps to get started.
This is a topic Deb and I are deeply passionate about and have done much training and research in, to develop our skills to provide value to our licensees. This is something that does need research and try and edit approach. Pricing differently is not something that you can just pick up and implement. There comes a lot of emotion, self-doubt, and feelings of worthiness to price in a certain manner. We believe it needs time to understand and perfect.
But we are also strong believers in getting started. It will not be perfect the first, second or even third time – but you will get better.
Some of the ways we discussed to get started are:
- arrange your services into packages
- analyse your historical information for a select number of clients
- review and edit your engagement letter to provide for the new way of pricing
- choose 3 clients to implement the new pricing method
- start with version 1
Katrina Aarsman, CEO – Pure Bookkeeping
Article by Katrina Aarsman
Author of Grow, Profit, Exit, mother of two and mentor Katrina Aarsman has been with Pure Bookkeeping since 2018. As spokesperson for Pure Bookkeeping Australia, Katrina uses her role to help bookkeeping businesses in a meaningful way. Along with leading development, implementing goals and upholding values, Katrina is dedicated to staying in touch, on top of trends and issues with the bookkeeping industry. Before Pure Bookkeeping, Katrina built a multi-staffed bookkeeping business that she sold in 2015. Since then she has guided, supported and helped bookkeepers build and grow their businesses. She continues to find new things that inspire her and the people around her. Currently, she is exploring meditation and dreaming of one day living by the water.