In this episode, my friend and VeraSage colleague Ed Kless and I discuss his recent trip to Australia. He was in Melbourne to present a strategy workshop for a software company and speak at Sage Summit. First, we explore the strategy framework of Why, Who, What and How. Then, we review his sessions from Sage Summit, Healing Leadership and Innovation Beyond Technology. Contact Ed Kless Website - EdKless.com Twitter - @EdKless Podcast - The Soul of Enterprise … [Read more...]
The Legacy of Value and Pricing with Paul Kennedy – 105
Paul Kennedy is a co-founder and partner at O'Byrne & Kennedy (OBK), a chartered accounting firm in the United Kingdom. He is also a Practicing Fellow at VeraSage. In this episode, we explore the OBK journey to value pricing. In the first segment, Paul explains how OBK transitioned to value pricing over a 5-6 year period. During the second segment, Paul discusses the influence of value pricing on their customers and services. The Switch to Value Pricing What is the most important thing … [Read more...]
Discover Impact, Meaning and Feeling with Matthew Tol – 098
At times, value pricing can seem complex. However, if you boil it down to the core elements it is listening to the customer, discovering the impact and then creating options. Matthew Tol is passionate about the fundamentals and believes you should expand discovery to include the meaning and feeling to the customer to fully understand the value landscape. Listen to the Customer What is the most important thing you can share about pricing? You are never going to get it right. … [Read more...]
Compensating Your Team Based on Value with Christopher Marston – 089
For over a decade, Chris Marston has been paying his team based on the value they create for the law firm. Each employee can choose how to serve a customer in an engagement from five different roles. The contribution of the role, the lifecycle of the project and the importance of the customer to the firm determine the compensation paid. His "value" model aligns how the company prices customers to how it compensates the team. Creating Authentic Relationships What is the most important … [Read more...]
The Impact of Really Smart People with Kirk Bowman – 071
This episode is a summary of two conferences Kirk Bowman attended this quarter. The ideas from these events challenged his thinking and influenced how he will do business in the future. The conferences were the VeraSage Symposium in Boston and Regency Mastermind in Phoenix. VeraSage Symposium Asking Great Questions - Ed Kless with Sage Shut Up and Eat Your French Fries from The Soul of Enterprise To be great consultants, we have to ask great questions. Examples of great … [Read more...]
Making the Transition to Value Pricing with Adrian Simmons – 070
Adrian Simmons is the Chief Creative Designer at Elements CPA. He also is the director of Thriveal Laboratory, which encourages innovation in the accounting profession. Adrian worked at KPMG for two years before joining his father's accounting firm. In 2013, he had the honor and privilege to re-imagine the firm. How to Switch to Value Pricing What is the most important thing you can share about pricing? Pricing is dynamic and linked to value, which is also dynamic. Do not lock … [Read more...]
VeraSage State of the Union 2015 with Baker, Kless & Chisholm – 069
This episode of the Art of Value Show is a live recording from the bi-annual VeraSage Symposium, which was in Boston, MA. The distinguished panelists or VeraSagi are Ron Baker, Ed Kless, John Chisholm and Kirk Bowman. This episode will be rebroadcast on The Soul of Enterprise with Ron & Ed and Pricing Power by Steve Major. What is the future of value pricing? Ron Baker - It is incredibly bright and optimistic. Pricing is now a profession and a C-Suite function. … [Read more...]
The History of the Theory of Value with Baker & Kless – 067
The history of economic thought regarding the concept of value is "a tale of two theories". The Labor Theory of Value states that value is equal to the sum of the labor and materials to create something. The Subjective Theory of value states that value is the perception in the mind of the customer. Ron Baker and Ed Kless discuss these theories from chapter 8 of Ron's book Pricing on Purpose. Early Theories of Value What was Adam Smith's paradox? In The Wealth of Nations, published … [Read more...]
The Funniest Thing About Value Pricing with Greg Kyte – 048
Greg Kyte is a CPA and comedian. He teaches ethics and fraud courses for accountants with a comedic edge at ComedyCPE.com. He is also the G. Robert Newhart Non-Value-Added Fellow at Versage Institute. The Real Context of Value What is the most important thing you can share about pricing? You need to price your services like you know magic. The Labor Theory of Value says that the value of something is equal to the materials and labor it takes to create it. It is a fallacy. … [Read more...]
Lawyers Can Switch to Value Pricing with John Chisholm – 042
John Chisholm helps law firms move from hourly billing to value pricing. A 25-year lawyer turned business consultant, he says the problem with the cost of legal services is not the amount. It is the unpredictability. Customers prefer the experience of and will pay more for price certainty. John shares how this single change can inspire a spirit of innovation and entrepreneurship in lawyers. Value Pricing in Law Firms What is the most important thing you can share about pricing? No … [Read more...]