{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Business Strategy for CPA's","title":"143 How to Price Intangibles","html":"","width":"100%","height":180,"duration":620,"description":"Intangibles have value. And value is the precursor to price.  If you’re not great at measuring so called intangibles, you won’t appreciate their value, and if you don’t appreciate their value, you’ll underprice, and when you underprice, you’re going to leave a lot of money on the table. Then you’re going to have to work really hard to compensate for not understanding how to measure, value, and price intangibles.  3 sections today: Why CPAs can get stuck here Debunk intangibility Steps to get you closer to measuring, valuing, and pricing the intangible SECTION 1 CPAs especially get so caught in this question, moreso than in some other professions, because of a few factors: Few thought-leaders in the industry know the answer. Many leaders in the industry do not appear to have cracked this nut. So there are few people to get the answer from.  Industry standard. You get your license, you wonder how to price, you look around, other CPAs are billing by the hour so you think ok, this is how it’s done We can all agree on the length of an hour, so it appears to shorten pricing conversations, and there are so many other things to get to in business, so, rather than grapple with this difficult questions that who knows if it even has an answer, how about getting some work done. … so the question gets left unanswered. Because CPAs deal primarily in dollars and numbers, they haven’t been required in quite the same way to learn the value of subjective things. (By contrast, a professional commissioned artist is required to grapple with subjective value of art. But if you’re in the business of art, you’re likely to have a better appreciation and acceptance of the concept OF the subjective nature of intangibles, and their value.) And, GAAP accounting doesn’t help. The idea that only financial transactions get accounted for, and therefore only things financial in nature appear on the Balance Sheet, doesn’t help a person appreciate the value of assets that are intangible.  ...","thumbnail_url":"https://img.transistorcdn.com/AZFvbY29RNsC20PTchqbqXsFoNMjM1040wmYivreg-g/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9lZmE1/ODU2OWRkNzA4ZDQ2/ODg2YmEwYjYzNmEw/NjkzNC5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}