Confessions of the Pricing Man, How Price Affects Everything Financial experts often struggle with setting fees for their own services and expertise. It is easy to see how someone could have trouble with decisions involving hourly billing versus fixed fees, premium pricing, bundling, discounting, and adjusting for scope creep. The author in this article shares insight from Hermann Simon on the above conside ...

As many firms are struggling to recruit and retain qualified people, some practitioners have found that value pricing has made their working environment more efficient and more attractive to staff members.  Value pricing can keep your team happier and make your firm more profitable. To read the full article in the Journal of Accountancy, click: How Implementing Value Pricing Can Help Your Staff Get More Don ...

How to Implement Value Pricing in Your Firm In this second article of the three-part series, Ronald J. Baker challenges professionals to move from value billing to value pricing. Value pricing inverts the hourly billing model by recognizing the economic facts that it is the customer who is the ultimate arbiter of value. If value is created, the customer understands that cost is secondary. ...

In this first of a three-part article, Ronald Baker challenges professionals to rethink how they market and price professional services. He reminds us that “[c]ustomers buy value, not hours.” Many practitioners and firms are locked into the current pricing myopia of hourly billing, which prevents professionals from getting paid what their customers believe they are worth. In this first article, Mr. Baker of ...