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An Accountant Learns to Value Price with Josh Zweig

An Accountant Learns to Value Price with Josh Zweig – 027

January 6, 2015 by Kirk Bowman 2 Comments

Josh Zweig is a the founder of LiveCA, an online accounting firm in Canada. His goal is to serve his customers from anywhere in the world with only a backpack.

http://traffic.libsyn.com/artofvalue/027-An-Accountant-Learns-to-Value-Price.mp3

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Learning to Value Price

  • What is the most important thing you can share about pricing?
    • Pricing is a skill that gets better as you practice.
  • How did you first get exposed to value pricing?
    • He was seeking a better way to price and found a mentor to expose him to value pricing.
  • What is the difference between billing and pricing?
    • Pricing is proactive, something you do before you buy something.
    • Billing is retroactive, something you do after the work has been performed.
  • Who is one of your mentors in value pricing?
    • Jason Blumer, Thriveal Network
  • What isThriveal Network?
    • Network for accountants who want to do things differently (not status quo)
  • What were the first 2-3 things you learned atThriveal?
    • Always offer options
    • Present from the highest to lowest option
    • Price outside of your comfort zone (be confident)
  • Did you struggle with pricing with confidence?
    • You build confidence through experience
    • Honor the customer by presenting the highest option first

Implementing Value Pricing

  • What is an online accountant?
    • They are accessible online (anytime, anywhere)
  • How have you implemented value pricing in your business?
    • Have a structured process for onboarding a new customer: Lead call, technical call, pricing call
  • Why is it impossible to value price without a structured process?
    • The process has to focus on what the customer values
    • Without a structured process you cannot get better at discovering value
  • What metrics are you use to track your onboarding process?
    • Outline of their business, technology and pricing
    • Personality of the customer
  • How have your metrics improved over time?
    • Need to have an idea of costs (capacity) so you do not under price
  • What is the next step after the pricing call?
    • Send a written proposal for the option chosen
  • What are some of your experiences with underpricing or overpricing?
    • Challenge of doubling the price for an existing customer (discuss value with customer)

Innovation through Value Pricing

  • What are some innovations you have created in your business?
    • We help our customers create real-time metrics and have more valuable conversations
    • We look for ways to add value that the customer does not know he needs
  • How do you create options when pricing a customer?
    • Our CPAs collaborate to reprice each customer each year
  • How has value pricing impacted your firm financially?
    • We have grown from 2 people to 10 people in one year
    • We get referrals immediately after the discovery process
  • What is a story where you created outstanding value for a customer?
    • A customer (charity) said they should pay more to LiveCA

About Josh Zweig

  • Started his career at PricewaterhouseCoopers
  • LiveCA provides accounting services to Canadian businesses
  • Home base is Tel Aviv but he takes “workations”
  • Twitter: @LiveCA
  • Facebook: MyLiveCA

Filed Under: Accounting, Episodes, Switching Tagged With: Accounting, Options, Value conversation

Comments

  1. Bill Rogers says

    March 8, 2015 at 5:02 pm

    I hope you receive this as constructive comments. The interviewer said “I love…” so many times that it quickly became trite. The only reason I am trying to listen to this to the end is because Ron Baker pointed out your article.
    I have walked away from LOTS of work over the price. I am really happy to lose certain work over the price; I have developed a 6th sense about what client is going to be higher-effort and/or higher-maintenance and I need to get paid extra for certain aggravation issues.
    BTW – when a CPA is getting paid adequately the dynamic of the relationship shifts and the client frequently has an epiphany about the relationship.
    Another thing – I get squirmy when I hear CPAs use words like “Coach”, “innovative” (and others) about themselves. It is just too much over-used cliche.

    Good luck

    Reply
    • Kirk Bowman says

      March 16, 2015 at 4:40 pm

      Bill – Glad to hear Ron is recommending the show. Thanks for stopping by.

      Reply

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