Professional firms typically bill by the hour, as any accountant or lawyer knows all too well. But, as you'll discover in this episode, today's guest argues strongly for implementing a subscription-based model. 

Meta-consultant and business iconoclast, Ed Kless is the Senior Director of Partner Development and Strategy for Sage in North America and a Senior Fellow at the VeraSage Institute, a think tank dedicated to the elimination of the billable hour. He is also an author, speaker, and co-host of The Soul of Enterprise, a business podcast designed to champion the insight that wealth is created by intellectual capital. 

As you'll learn from our conversation, Ed has noticed a significant shift towards the subscription-based business model, where you have control over how you price the relationship you have with your customer. In this candid and thought-provoking discussion, Ed shares his expertise and advice when it comes to subscription-based pricing models for professional knowledge firms and best practices for firms looking to transition to this approach. We also touch on the difference between a client and a customer, the notion of serial transformations, and why Ed believes that pricing is an art, not a science. This episode will challenge the way you think about pricing and encourage you to consider the value proposition of a subscription-based model.

Key Points From This Episode:

• Ed shares some insight into his role at Sage, as well as his 'why.'
• A look at why he believes that professional firms sell knowledge, not service.
• Why the business model that best serves this transfer or access to knowledge is not the hour.
• An understanding of the difference between clients and customers.
• The value proposition of a subscription-based model and how it serves customers better.
• Defining subscription-based pricing and what Ed calls 'serial transformations.'
• The Disney concept of 'plussing' and the mindset shift that comes with subscription models.
• Ed debunks some common misconceptions about subscription models.
• What Ed means when he says that subscriptions should be frictionless.
• Ed's belief that pricing is an art, not a science, and a look at his 'ensurance' model.
• Learnings from one of the biggest subscription success stories that Ed has seen.
• Where to start educating yourself, including Ed's recommended reads.

Ed Kless
Ed Kless on LinkedIn
Ed Kless on Twitter
The Soul of Enterprise (TSOE)
Sage
VeraSage Institute
TSOE Episode 296: Subscription Pricing at Summit CPA — Jody Grunden
Managing the Professional Service Firm
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