To engage in value based pricing it is imperative that you engage in a detailed value conversation. The basis for a good value conversation is through answering three questions –
Why in this manner
If a potential client is coming to see you, you need to understand what is happening in their world now causing them to want to talk to you about your services. You need to understand why they’ve sought you, what is it about your firm or your service that is of interest, and then importantly the manner they wish to work with you.
The key is that most people have a desire to feel that somebody cares for them. It is that communication that is an important aspect of demonstrating the value of what you do. It all comes down to communication.
We must be willing to walk away from business. Still to our value and price.
It is about outcomes. Take responsibility for delivering outcomes.
Become the first stop shop, not the one stop shop. The concierge model of business. That you become the firm or the individual that the client rings first to find out where they can go for help.
If we hold people accountable for inputs we will never hold people accountable for outputs.
Timesheets are the opium of the profession. (Dan has the T-shirt that says so).
Three things people should know –
- Keep an open mind – learn, understand your client, always be looking for the opportunity.
- Take time for the first price – if you get the first price wrong, it upsets the relationship.
- Don’t pollute the river at the source. Be extremely careful about client selection. Make certain that you have a clear system of identifying the clients that you want to work with.
Thank you Dan.
Linkedin – Daniel Morris
twitter – @morriscpa