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Pricing Your Services at Market Price is Costing You – Part B

See BOSS Website for information on the new Freedom Service’s outsource accounting work
Continued from: Part A – Pricing Your Services at Market Price is Costing You (Outsource Accounting Work)

It means some of these firms have learned ways to charge significantly better prices for their firm. As you can to. You just need to learn some strategies, which we will get to shortly.

Here are some illustrations of firms that have learned these higher price asking techniques.

The majority of the accountants from the study charge out from between £250 & £400 for a limited company incorporation service. Tony Kensington of Aspirations reported how, following some pricing training, he was able to charge a fee of £9,000 for helping their client get incorporated, having charged only £250 in the past!

Mr David Logan of McIlveen Howard was previously receiving £350 for a service that he now charges £10,000. The pricing strategies lessons enabled them to start charging more and retain happy clients.

I’ve got lots of stories of firms that I’ve taught how to price right, and how they have gone on to transform their firms. For example, if you’re interested see this 30-minute interview with Stuart Ramsay of Accountancy Extra that was made in June 2013. He explains exactly how he made changes with his pricing and consequently his profits – watch the video by clicking below.

Click here for information on the new Freedom Service’s outsource accounting work

Accountants need to realise their services are not commodities. They are constantly telling me that they can’t raise their prices as firms have a market price expectation. I tell them they need to get out of the commodity trap.

When a client buys tax return or other compliance services, they are not buying a product or commodity.

They want to buy a solution to a problem and trust the people at your firm to deliver the solutions.

If “you” could be bought at another firm then that would make “you” a product. As that’s not possible, now maybe you can see how much more valuable your very unique services could be to clients.

So, as there is no market price we need to start thinking of ourselves as being unique and different.

For firms wanting to learn about how to price their services effectively go to: EffectivePricingForAccountants.co.uk.

Click here for information on the new Freedom Service’s outsource accounting work

BOSS (Back Office Shared Services Pty Ltd) is Australia’s premium outsource accounting provider supplying well-trained high-quality accountants and bookkeepers. To discuss your needs and how we can help, Book a Consultation NOW!

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