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Mark Wickersham (UK):
When deciding how to price projects
such as annual accounts it’s relatively easy. It’s repetitive, predictable and
we are able to create a package solution to suit that makes it easy to price. But what about when it’s a one-off job?
How best do you price it then?
Here are 3 tips to help you do it more
effectively: Tip 2 – Create options
As I’ve said once you know what
the customer wants to achieve then you better know how you can help them. It also means that you can add in
different levels of exactly how you can help them, and then price them appropriately. You may think that the one-off work
model doesn’t suit this three-tier pricing structure. But it does.
Once again you need to create three
different options and, with a bit of creativity and thinking that’s possible whatever the situation. For instance the client wants a
cashflow forecast. At a basic level that’s just what you do for them. Yet when you ask why they want it
then you understand their
business better.
In this example, the reply may be that
they need to buy new plant and machinery so want the forecast for their funding attempts. Now, beyond just the cashflow forecast,
you could offer them a middle tier option where you go to a meeting with the bank manager and talk them through the cashflow forecast. Alternatively, as a top tier option you
could help with other funding opportunities or a grant finding solution. Once you’ve given the client three
different options you’ve given three different prices – and more than likely the client will go for one that’s more expensive than just the basic level. (More to follow!)
In case you missed this:
(More of Mark!)
Better pricing = higher profits
If you have a service business, you can
earn much more from this series. Also, Mark runs a programme called
Price Consulting, and he teaches
accountants/bookkeepers how to help their customers with their pricing. Thank you for the positive response to
posts on this topic and the action taken. Please tell your friends!
Those links again:
How to build a successful bookkeeping
business (book) How to build a successful bookkeeping
business (video training programme) The Value Pricing System
The Power of Price Psychology
Monthly Mentoring
Grab them NOW and claim the true income
that you earn!
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