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My Value Pricing Journey | Accounting WEB

For the next few posts, I am going to write about my journey towards Value Pricing. After hearing about it for years, I have decided to fully adopt this highly recommended strategy. Such dramatic change is unsuitable for jumping in feet first, careful planning is required. Keeping that in mind, I decided to interview a colleague who has already taken the plunge, so here are the highlights of my talk with Serah Blackstone-Fredericks of the San Francisco Bay Area, founder and CEO of Books In Harmony :

Jody Linick: Why did you decide to implement Value Pricing in your practice?

Serah Blackstone-Fredericks: I made the switch because I realized the quality of clients is easier to filter down when you are billing a reasonable, transparent rate, subscription fees included. Specific kinds of people look for this. The initial push was a result of the chaos of hourly clients complaining about monthly billing fluctuations, and having to spend time on the phone explaining what I did that made this month’s fees more than last month’s fees. There is a direct correlation between working for clients more and billing less. I realized the switch would hurt me initially, but also that clients looking for the best price are not the best kinds of clients anyways.

JL: How did you arrive at your Value Pricing packages and their rates?

SBF: I have to admit, that part was really hard. I started by researching what other bookkeepers in my area charge. I downloaded pricing guides from CPA firms to see their fees. I had to think long and hard if my new prices were reasonable. I heard at conferences to make Good, Better, Best packages, so I started there. The great thing about working for yourself is, if something doesn’t work, you can change it immediately! Originally, I had an Individual package, which was $100 less than my Basic package. I soon realized this was NOT a good thing to offer; I want clients who can afford the Basic package.

Read complete article here:

My Value Pricing Journey.

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