Value Pricing for Accounting Professionals

A Complete Guide for Accountants and Bookkeepers to Find the Right Clients and Increase Profitability

Mark Wickersham

• Publisher: Kogan Page
• Year: 2022
• ISBN:
  9781398605381
• Edition: 1
• Topic: Business
• Subtopic: Accounting
• Index: Business

Accountants and bookkeepers are working long hours but not making the profits they should. A value pricing strategy can lead to better prices for accounting professionals and better results for their clients. The concept of value pricing is simple to understand but many accountants struggle with the price conversation and lack the confidence to charge higher prices. Value Pricing for Accounting Professionals is a practical guide to building a clear pricing strategy, feeling more confident and increasing earnings. It covers the critical steps to pricing a new client and how to re-price existing clients without losing them by quantifying value.The book's step-by-step approach is backed up by dozens of real-life case studies of firms which applied these methods to get better results, along with benchmarking research based on a survey of thousands of accounting professionals. There is guidance on calculating a profitable price, creating effective packages and managing the 'invisible' cost of scope creep, and new insights into meeting clients remotely and pricing in difficult economic times. Become more profitable and deliver extraordinary solutions to clients with this essential guide to effective value pricing.

Table of contents

• List of figures
• About the author
• Preface
• Acknowledgements
• 1 The problem with the old-fashioned way of pricing accounting services
• 2 What the research tells us
• 3 How to become comfortable with charging higher prices
• 4 What makes a great pricing strategy?
• 5 How does pricing change in a crisis?
• 6 The foundations of value pricing
• 7 The structure of the value conversation
• 8 How to price a new client
• 9 How to prequalify prospects
• 10 Giving clients a choice: your first step to value pricing
• 11 How to create effective packages
• 12 How to properly build scope into the price so you never make a loss
• 13 How to calculate a profitable price
• 14 How to identify and tackle scope creep
• 15 How to set out your fixed price agreement
• 16 How to reprice your existing clients without fear of losing them
• 17 How to get clients to value what you do for them
• 18 How to quantify the value to your client
• 19 The reason why your clients are uninformed about price, and how that helps you
• 20 A complete value pricing system
• 21 Final thoughts
• Reference list
• Index