In the IT services world, that’s a business owner who’s thinking more about their provider as a “break, fix” vendor when something goes wrong, instead of a vital resource in the long-term growth of their business.
When you say that “[fill in the blank] will never happen,” you’re creating a fixed mindset for yourself and your business.
And when it comes time to craft engagement options for a prospect, they realize they don’t have enough knowledge of that client to do it well. As they think about how they can deliver more value to an existing client, they realize they haven’t had a substantial value conversation with that client in quite a while, if at all.
“The emergence of technology like ChatGPT puts the outdated — yet deeply ingrained — time-based billing model at further risk”
On this powerful edition of 𝘛𝘩𝘦 𝘗𝘳𝘪𝘤𝘦 𝘢𝘯𝘥 𝘝𝘢𝘭𝘶𝘦 𝘑𝘰𝘶𝘳𝘯𝘦𝘺, Karen Nowicki, Phoenix Business RadioX® and Deep Impact Leadership Coaching & Consulting, joined me to discuss the trauma of her husband’s suicide attempt, what she did to cope with her own mental health challenges that followed, her decision to share her journey in detail, how she managed her two businesses through those difficult times, and much more.
For high-ticket solo and small professional services providers, the key to more effective pricing lies in defining where the client sees value, quantifying that value, and pricing to receive a small portion of that realized value. It’s value pricing.
Taking your capacity into account is one that all professional services providers, not just accountants, and CPAs, need to think about in setting prices. At any point in time, your practice is an airplane with limited capacity. Sure, you can change capacity with additional technology or staff, but those changes are long-term and unpredictable.
There’s an exchange of value in every transaction. Every transaction involves two parties who have their own perceptions of value.
© 2018 Ray Business Advisors, LLC.