The Value Pricing Podcast

If you get an email in your inbox tomorrow inviting you to spend $200 on a webinar from John Smith on business success strategies, are you going to sign up? 

I’m guessing not.

Now if that same email came from Sir Richard Branson, how about it?

John Smith might have better content, he might be a better presenter, he might give you more value but… you’ve never heard of him! You’ve got no idea whether it’s worth spending your money on him.

But Sir Richard Branson is famous – he is well known and considered an expert with experience. He has a reputation, and you KNOW him, you LIKE him, and you TRUST him to deliver valuable information. 

SO, how can you build a reputation like Sir Richard Branson?

By putting out content.

When you consistently deliver quality content, potential clients will start to recognize your expertise and authority. 

And people want to work with the best! 

Would you rather work with Sir Richard Branson on business success, or John Smith? 

(I know who I’d pick…)

Your clients want to know they are working with the best accounting professional. Someone who can meet their needs and go above and beyond the regular accountant and bookkeeper. 

You need to show them that person is you. 

Of course, creating content can seem like a daunting job, and maybe you think you don’t have the time for it. 

I felt the same way a few years back when I started with content marketing, and now I post a variety of content every week including videos, emails, blogs, podcasts, social media posts and live training.

You can do it too.

In this episode you will learn: 

✅ What content marketing is and why you must embrace it if you want to win the best clients,
✅ The top 3 forms of content you need to use
✅ How to create content fast so you build your brand and positioning
✅ The 5 golden rules of content marketing

Listen now.

‘That all sounds great! So, what’s it going to cost?’

PANIC! 

Whenever I heard this question, I used to go into panic mode – I’d freeze up, I’d stumble out something like ‘oh, well, let me take a look at some things and I’ll get back to you…’ – cringe!

Then I’d send a proposal in the mail (with a price WAY TOO LOW). 

The pricing conversation used to be something I absolutely HATED. I had no idea what to price, I felt like the client was always going to think I was too expensive and complain, and I felt like I really needed to convert loads of clients to grow my business. 

So, I underpriced for way too long. I won over 200 clients in just 4 years - and almost went bankrupt because of it. 

It wasn’t until I discovered value pricing that I saw the error of my ways.

I can’t even describe the relief – and the amazement – the first time someone accepted a price 3 times what I originally charged without batting an eye!

With value pricing, I could break the pricing process down into 3 steps and charge a premium price with absolute confidence the client was going to be happy to pay. The client could see the value, and CHOSE to pay a high price for it.

It changed my life. So, I’m sharing the process with you. 

In this episode you will learn:

✅ The 3 stages of the value conversation

✅ The 3 types of questions to ask to uncover what your client values

✅ How to get your client to value your service

✅ The 2-meeting approach to pricing

✅ How to get the highest possible price from your client

When you can structure your value conversation and confidently charge high prices, you will never have to struggle or feel uncomfortable talking about the price again.

Do you have a clear pricing strategy? 

If the answer is yes, AWESOME, you can skip this episode – you are clearly high above the majority of accounting professionals.

If the answer is no… do you ever find yourself working ridiculously hard and not making enough money to show for it? Or do you very often hear your clients say ‘that’s too expensive’. Coincidence? 

In fact, let me revise that question… 

Forget a ‘clear’ strategy, do you have a pricing strategy at all? 

Or is it all basically guesswork, plucking a random number from the air and saying ‘ah yes, this will be my hourly rate’. 

The thing is, having worked with the accounting profession for over 2 decades there is something I know for absolute certain: 

“Accountants and Bookkeepers are too cheap.”

Most of the accounting professionals I talk to are overworking and underpricing.

They don’t have a pricing strategy at all because - let’s face it – no one ever actually taught us how to price! 

Sure, we are the ‘numbers’ people, but that doesn’t mean we inherently know how to price!

But PRICE is the fastest way to change PROFITS – so having a great pricing strategy is ESSENTIAL.

So, that’s what I’m teaching you today.

In today’s episode you will learn:

✅ Why having no pricing strategy nearly brought me to bankruptcy 

✅ 3 different pricing strategies you could use

✅ Why a clear marketing strategy will lead to a clear pricing strategy

✅ How to fill your business will high paying clients that are great to work with

Having a pricing strategy will give you more control and confidence over your prices. It will remove the stress of the pricing conversation, and you will never have to worry about making a loss on unexpected projects or scope creep.

Value is a slippery fish. 

It’s hard to get hold of. It’s hard to grasp.

That is… until you can put a number to it. 

Once you can put a number to value, it suddenly becomes clearer.

When you can quantify value for the client, they will appreciate what you do much more, and be far more willing to pay you the high price that you deserve. 

The thing is, everyone values things differently. Value is subjective – (that’s why it’s so difficult to put a number to it). 

So, how are we supposed to come up with a number that represents value to each individual client. 

The simple answer… just ask them! 

If you use the right questions (and then use the right techniques to explain the price), not only will you be getting pretty close to the client’s MAXIMUM willingness to buy, they will also be super happy to pay you that price. 

In this episode you will learn: 

✅ The contrast principle – and why it’s the most important communication technique

✅ What can you quantify? 

✅ How to quantify the unmeasurable

✅ Why numbers are only part of the value story

✅ Taking it to another level with extrapolation

If you can put a number on value, you can easily come up with a value-based price, and your clients will be desperate to buy from you. 

You may have heard me say there is no magic formula for value pricing.

That’s true. There isn’t.

Value pricing is without a doubt the best way to price your services – but it takes time to implement, especially when you’re stuck up on using hourly rates. 

But, we CAN break it down into baby steps. 

And the first step towards value pricing is to give a fixed price up front.

Now for that… there IS a magic formula. 

It’s called Regression Analysis. 

It’s a way of using your current time-based pricing model to generate a fixed price upfront that will ensure you a profit every time.  

All you need is a spreadsheet.

Ready to get started?

The latest episode of the Value Pricing Podcast is now available: Calculating a Pricing Formula Using Regression Analysis 

In today’s episode you will learn: 

✅ Why value pricing is hard (but the best pricing method out there)

✅ How to systematically calculate a profitable fixed price every time

✅ How to systematically adjust your prices to cover scope 

✅ How to make the first step towards value pricing

Once you can confidently generate a fixed price up front, value pricing becomes FAR easier. Fixed pricing is not value pricing, but it’s the first step on the journey towards it. 

First impressions matter!  

For business owners, finding a great accounting professional is hard. 

There’s so much choice, and it can be difficult to tell who is going to be good and who is going to be awful.

So, set your standards high right from the outset. 

A bad first impression will scare your clients off in seconds. 

You need to make sure every first experience within your business is smooth, easy and delivers lots of value. That sets the tone for what it might be like to work with you (and you’ll easily convert more clients).

Then when you do sign that client up – don’t stop there! 

Continue showing them how great it’s going to be working together by making sure all your onboarding processes are quick, consistent and streamlined.

Your clients are going to love you for that.

And clients that love you will rave about you to everyone they know.

That’s the best marketing anyone could ask for.

The latest episode of the Value Pricing Podcast is now available: Your System for Onboarding New Clients 

In today’s episode you will learn: 

✅ The 7 key elements of a great onboarding system

✅ 9 essential things to include in your onboarding emails

✅ How to streamline your onboarding process with software

✅ Top tips on onboarding from the guys behind JetPack Workflow and Practice Ignition

Make your clients love you right from the outset of your relationship and you’ll never have to worry about them leaving you, complaining about price, or causing you trouble. They are also sure to refer you to other great clients.

Ever been to McDonald’s? Ever bought a ‘Happy Meal’ for your kids?

It’s the perfect package meal – they get some chicken nuggets, chips, maybe some carrot sticks, a juice drink and a small toy, all wrapped up in a cute box with puzzles. 

It’s totally perfect for the little ones!

Now, if McDonald’s marketed the ‘Happy Meal’ to adults, would you buy that happy meal for yourself?

I’m guessing not… 

You probably aren’t bothered about the toy or the box with puzzles, and you might want a larger portion, or a burger instead of chicken nuggets.

This package does not appeal to you.

Can you see where I’m going with this?

When you create package offerings for your clients, you can’t just throw random stuff together and hope someone wants that assorted collection of services.  

You need to think about what your ideal client wants and then create a package that is perfect for them.

When you offer a package that is designed specifically to meet their needs and serve them the best possible solution, they will pay you a high price for that.

The latest episode of the Value Pricing Podcast is now available: How to Create Effective Packages That Sell

In today’s episode you will learn: 

✅ The 3 biggest mistakes accountants and bookkeepers make when creating their packages

✅ The 2 critical questions you must ask before creating your service offering

✅ What to put in your packages to make them more appealing 

✅ Why taking things out of your package is more powerful that putting stuff in them

When you create your package with the client in mind you will end up creating the perfect solution for them – that’s valuable, and that’s what will get you a high price. 

Value pricing is the superior way of pricing your services, hands down. But…

“How do I come up with a value-based price when I don’t know what my client values?”

The thing about value is – it’s subjective. 

You can’t see it, feel it, or measure it… and everyone values things differently. 

 “So, how do I work out what each client values?”

You need a system. 

When you turn up to a client meeting armed with your system for uncovering value, you can sit back whilst they tell you all of the things they need and want (and will pay a high price for). 

You then build those things into your package and give the client EXACTLY what they want. 

And because you’ve built a package that is so amazing perfect for them, you can charge a high price.

They will CHOOSE to pay you that high price because you can offer them IMMENSE VALUE. 

So, how do you go about uncovering the value in the first place…

We will cover that in today’s episode.

The latest episode of the Value Pricing Podcast is now available: How to Find Out What Your Clients Value

In today’s episode you will learn: 

✅ 4 strategies for systematically uncovering what your clients value

✅ The Value Equation

✅ How to change your client’s perception of value

✅ A BONUS technique for getting the maximum price (and the most value for the client)

When you understand what your client values, you can ensure your solution is PERFECT for them. They will happily pay a higher price when they know they are getting EXACTLY what they want. 

You may think that by narrowing your area of expertise you will drive away a lot of clients.

Well actually – that’s true.

But you will be driving away the clients that you don’t want to work with. The PITA clients, the one’s that will moan about your prices, the ones that work in industries that you don’t really enjoy working with.

When you niche, you drive away the people that don’t fit your business. BUT…

You draw in all the right clients.

When you niche, you are actively attracting the kinds of clients that are PERFECT for your business.

People will FLOCK from near and far to work with the expert because that’s what they value. People value working with the top authority in the field because they know that you can deliver them the top results.

And when you specialize, you WILL be able to deliver that value and those great results for you clients, because you will be laser focused on that exact area.

A specialist is far more valuable to the right client, and they will pay much higher prices to work with you.

That’s why the specialist ALWAYS makes more money than a generalist.

In today’s episode you will learn: 

✅ 6 reasons why you should develop a niche
✅ The common objections to creating a niche (and how to overcome them)
✅ The 3 types of niche – the 3 ‘S’s of niche building
✅ 7 strategies for winning high-quality clients that are perfect for your business

When you niche, you will be able to deliver the top results to your clients. Niching helps you draw in clients that will value you and want to work with you desperately. They will appreciate the work you do, and they will spend more money to work specifically with you – the expert.

Do you ever find people tell you, “that’s expensive!” when you reveal your price?

One of the biggest reasons for this is they simply don’t understand the value you offer. The words “that’s expensive” are an automatic response people often give when they are shown a price. 

It does not mean you are too expensive.

It means you have not communicated your value effectively enough.

In fact – most of the accountants and bookkeepers I know are FAR TOO CHEAP. 

The thing is, you get what you pay for. If you have a low price, people will see your service as low value – even though it is a highly valuable service.

A lot of accounting professionals will keep their prices low to avoid hearing this phrase. We hate that rejection and that confrontation. We just want them to say ‘yes’ and buy from us straight away.

But you deserve to charge a high price, and with the right communication, you can be sure that people will buy from you with that high price point. 

In today’s episode you will learn:

✅ 5 strategies to effectively communicate the value of what you do 
✅ How to get people to buy from you 
✅ How to avoid price objections
✅ How to have a confident price conversation 

Low prices attract the wrong sorts of clients – the kinds of clients that will complain about your price and not appreciate the value of your work. Lowering the price to win clients is only going to win you clients that will be a pain in the ass from the get go.