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Advice For Cpa Firms – Establishing A Value Pricing Model
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There is a lot of talk among CPA firms about switching to a value pricing model. Value pricing is popular among modern CPA firms as it allows them to focus on what’s really important to their clients.
Value pricing is based on answering the following questions – what really matters to your clients? How do they see their relationship with you and what do they hope to gain from it? How does the client perceive the value of your firm?
The following tips will help you establish your value better, so that your clients are aware of what your services are truly worth to them.
Define Something that is Unique about Your Firm
You should consistently provide produce work of the highest standards for your clients, and maintain a strong relationship with them. But what if another firm offered to provide the same service for a lower price? In that case, you will need to distinguish yourself from the other firms that are competing with you, and show how you are unique compared to them.
How do you do that? For one, you should stay in regular contact with your clients throughout the year, not just during the tax season. You should be more than someone who prepares their taxes; you should be more of a business advisor to your clients.
You should attempt to change how your clients perceive your firm to be. You should visit them at their workplace and show interest in their business. You should have a good understanding of their industry.
Find Out What’s Really Important to Your Clients
You should know what drives your clients and what motivates them. Every business owner is motivated by certain emotional values. They face challenges that prevent them from getting to their goals and objectives.
They have certain concerns of great importance. There are certain circumstances under which they are motivated to do their best. They feel frustrated about certain things, and may have problems that they would want a solution for.
As an accountant, can you be that person that solves their problems and clears up the roadblocks that stand in their way? That’s how you build your value among your clients.
Adapt Yourself to the Changes in Technology
Accounting is a traditional profession, but things have changed quite a lot in recent times. Cloud accounting is today critical to how accountants do their business.
If you haven’t switched on to some form of cloud-based accounting such as QuickBooks Hosting , Drake Tax Hosting, Quicken Hosting, ProSeries Tax software Hosting, Lacerte Tax Software Hosting or ATX Tax Software Hosting, you are losing out on something that will make things a lot easier for you.
Switching to cloud accounting will make it easier for you to make the switch to a value pricing model. QuickBooks on the Cloud, for example, has features such as anytime and anywhere access, with multiuser collaboration. So you will be able to automate low value tasks, save time and focus on things that are important to your clients.
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