Creating an experience means that work becomes a performance for which you charge an admission fee. What would you have to revise to sell a ticket to engage with your business? The answer to this question can launch your business beyond the first three stages of economic value–commodity, goods and services–to the fourth stage, the experience. The Progression of Economic Value What is the most important thing you can share about pricing? You are what you charge for. If you … [Read more...]
As a profession, lawyers may be the most resistant to value pricing due to their conservative nature. However, this is the very reason Michael Bradley from Marque Lawyers considers it a strategic advantage. The outcome for the customer is the first priority. If Marque cannot create value for the customer, they will not engage simply to make money. Changing The Practice of Law What is the most important thing you can share about pricing? Value pricing is more profitable than the … [Read more...]
Some of the most popular episodes of the Art of Value Show are my conversations with Susan Fenneman, our Dean of Success. For this episode, she and I selected a handful of topics for discussion. The catch is, we did not share the topics with each other before hitting the record button. It is an unscripted conversation that is a glimpse into the internal conversations at Art of Value. We call it an "un-episode" to describe the open format of the show. Let us know if you like the format (no not) … [Read more...]
The accounting profession is conservative by nature. Yet Peter Drucker said, "Profit comes from risk". This juxtaposition of stability vs. stretching describes the challenge of the accountant to innovate in his practice. Andrew Robertson has created a consultancy for accountants to help them bridge the gap. He starts by creating standard offerings for common services like taxes and financial statements. Then he layers custom advisory services, unique for each customer, to move the relationship … [Read more...]
Happy New Year! At start of each show I ask my expert guest the same question: What is the most important thing you can share about pricing? After 50 interviews in 2015, I have compiled their answers into Volume 2 of "The Most Important Thing About Pricing". It's About the Customer Ray Edwards - Set your price based on the value that your bring to your customer. Brennan Dunn - It is not about you, it is about the customer. Brian Casel - Keep the customer’s view of the value in … [Read more...]
Seth Godin recently published a blog post titled When to charge by the hour. And while usually I agree with most of what he writes, this time, I have a different point of view. First, in principle, I do not believe anything should be priced by the hour. The customer is buying the outcome of the service, not the hours and minutes to create it (inputs). Second, pricing by the project is better if the price is based on the value to the customer. Usually, a project price is a fixed price based … [Read more...]
Jason Coleman is the founder of Stranger Studios and the creator of Paid Memberships Pro, a membership plugin for WordPress. He is the co-author of Building Web Apps with WordPress. Jason enjoys playing Minecraft and Super Mario Maker with his kids. Kary Oberunner's podcast with Kirk is here: How to tell your friends their Digital Fly© is down (Episode 51) Transitioning from Services to Products What is the most important thing you can share about pricing? There is not one … [Read more...]
Tom Morkes is an expert at Pay What You Want pricing. In fact, he wrote a book on it. PWYW pricing lets the consumer choose the price to pay for the product or service. What is the most important thing you can share about pricing? Pricing is marketing. How you price your products and services is part of marketing, and therefore part of the sales process. Pricing is essential early in the process, while you are developing a product or service. What is Pay What You Want … [Read more...]
Jason Blumer is an accountant and entrepreneur, constantly starting businesses. His focus for the past few years has been on business coaching, trying to change businesses from the inside out. He is trying to single-handedly start a revolution in the accounting industry. He runs Blumer CPAs, a virtual accounting firm. He started the Thriveal CPA Network to help accountants stop billing by the hour and start pricing on the value they create for their customers. He has two podcasts of his … [Read more...]
Ron Baker is the author of six books, including Implementing Value Pricing. He's the founder of the VeraSage Institute and a Graduate of Disney Institute. He's on the faculty of the Professional Pricing Society and a host on a talk radio show, The Soul of Enterprise. He's a LinkedIn Influencer blogger and a recovering CPA. All Value Is Subjective What is the most important thing you can share about pricing? Prices are ultimately set by value, not by the competition or … [Read more...]