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Most CPAs struggle with pricing - some have moved to flat-rate or subscription pricing, and some still bill by the hour. What they often struggle to understand is the full depth of the value they offer to their clients, and because they donβt fully understand value, they are leaving Everest Sized Mountains of Money on the table, which means they have to work a lot harder to compensate for the missed opportunity.Β Here today to talk with me about this problem is My guest, Jose Mirabal .Jose is the Author of the Value-Based pricing framework and the founder and Director of the Pricing Institute, where he has advised more than 1,500 companies in 42 industries on their pricing strategies. HIGHLIGHTS: PART 1: - βEverybody's concerned about their costs.Β Nobody really worries about the price ceiling. The idea is to figure out and uncover value perception to see which specific services that you offer actually might have a higher willingness to pay from clients.β - βEverybody worries about value but they go down into figuring out costs. And there's no relationship between cost and value.β - βTo monetize value, the first thing you need to do is uncover value. How do you quantify value? You monetize based on differences. When people buy, they buy based on differences. People compare items.β - βWhen clients are telling you that your prices are similar or too expensive in comparison to other companies, that's a sign that you probably need to work more on your differences. And that's a sign that you need to better assess how your product and services differ from the next best alternatives.β - βIf you want to do value based pricing, all value based prices are supported by the price of the next best alternative. Every price based on value should be in reference to the next best alternative.βΒ - βIf you want to start with the pricing, don't look for what others are charging as much as what others are offering.βΒ Β Connect with Jose Mirabal: https://www.linkedin.com/in/jrmirabal/ Website: https://pricing.institute Β Want to find out what options you might have for working together? More about 1:1 coaching, roadmaps, and DIY courses here: https://shethinksbigcoaching.com/coaching-options Β
Most CPAs struggle with pricing - some have moved to flat-rate or subscription pricing, and some still bill by the hour.
What they often struggle to understand is the full depth of the value they offer to their clients, and because they donβt fully understand value, they are leaving Everest Sized Mountains of Money on the table, which means they have to work a lot harder to compensate for the missed opportunity.Β
Here today to talk with me about this problem is My guest, Jose Mirabal .Jose is the Author of the Value-Based pricing framework and the founder and Director of the Pricing Institute, where he has advised more than 1,500 companies in 42 industries on their pricing strategies.
HIGHLIGHTS:
PART 1:
- βEverybody's concerned about their costs.Β Nobody really worries about the price ceiling. The idea is to figure out and uncover value perception to see which specific services that you offer actually might have a higher willingness to pay from clients.β
- βEverybody worries about value but they go down into figuring out costs. And there's no relationship between cost and value.β
- βTo monetize value, the first thing you need to do is uncover value. How do you quantify value? You monetize based on differences. When people buy, they buy based on differences. People compare items.β
- βWhen clients are telling you that your prices are similar or too expensive in comparison to other companies, that's a sign that you probably need to work more on your differences. And that's a sign that you need to better assess how your product and services differ from the next best alternatives.β
- βIf you want to do value based pricing, all value based prices are supported by the price of the next best alternative. Every price based on value should be in reference to the next best alternative.βΒ
- βIf you want to start with the pricing, don't look for what others are charging as much as what others are offering.βΒ
Β
Connect with Jose Mirabal: https://www.linkedin.com/in/jrmirabal/
Website: https://pricing.institute
Β
Want to find out what options you might have for working together?
More about 1:1 coaching, roadmaps, and DIY courses here:
https://shethinksbigcoaching.com/coaching-options
Β
Business Strategy for CPAs: work less and make more. You know how to be an accountant β itβs running your business you need help with. With guests interviews and solo episodes, you will get business strategy every week to help you simplify your practice, get out of the compliance trap, get your time back, and command higher fees. Stop missing out on life: start working less while adding the next six figures of income. Business Strategy for CPA's is the show for you!