Pricing: value + mechanics
Pricing is a big topic; think about breaking it into two components: value and mechanics.
When you deepen your understanding of what creates value, pricing becomes so much easier. It becomes a matter of mechanics. And pricing mechanics can be straightforward.
Long-time readers of this list know I love Bronze-Silver-Gold as a starting point for monthly ongoing services.
Also available is the single flat fee, for:
- A business or personal return
- A one-hour strategy session
- A ½ day intensive, that drills deeper into one’s books or financial picture
- A clean-up project
- A diagnostic service (“Let me look at 3 years of returns and I can tell you what I see, but we don’t actually do anything.”)
And from there, you can give buyers payment options:
- Secure your spot by paying in full up-front now
- Split the payment in two for 10% more
- Pay monthly for 15% more
- Wait until you’re ready to buy, but the price may have gone up by then
Of course there are more pricing tools available for use, but that’s for another day.
Consider: focus first on building out the value of your service to the fullest extent possible.
Then, when you go to price, regardless of which pricing mechanics you settle on, your prices themselves will be much higher and you will have more latitude to work with.
The tendency is to go directly to choosing prices and pricing mechanics, while skipping the “create more value first” step.
I get why; value is esoteric, nebulous, intangible. It’s not as easy to work with as pricing.
But lots of hard-to-do things… are still worth doing.
When you’re ready, here are three ways I can help you go Down to 40 Hours:
READ MY BOOK—The client-tested guidance inside my book, Down to 40 Hours, will help you see how to shift your practice to create more value for clients without adding more work so you can get your hours down without reducing revenue.
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