The way I see it, you do not deliver value in every hour of intellectual knowledge work.
Not because you’re dishonest or unethical.
But because the value and IMPACT of intellectual knowledge work does not unfold in neat 60 minute increments.
It unfolds in bursts, in front of your computer, in your car, in the middle of the night.
Some value may take ten minutes to deliver. Other value may take time to develop.
Both have IMPACT for months or years to come.
Yet, hourly billing does not recognize these truths. It assigns a dollar figure to every hour as if they are all the same.
Your clients lose and you lose.
IMPACT based pricing means your clients win and you win.
This CPA made the change
The founder of a 6 person accounting firm was fed up–and to be honest, he was scared.
Every summer the firm’s cash on hand would dwindle after the end of tax season. The only relief would come from a small bump when extensions were filed in the fall.
His next “season” wouldn’t start for 6 months.
Finally he called me for some advice. “How do I get money coming in all year long?”
My answer: “Look forward with your clients as their trusted advisor.
Tax returns are all about the past. What’s done is done.
When you’re an advisor you’re helping your clients do better in the ways that are important to them.”
Within 4 months, the founder converted 43% of his long term tax return clients into advisory services clients. They would pay a monthly fee to get the advice and support that would IMPACT their futures.
After twelve months, this CPA only had advisory services clients. He is making his clients wealthy and his firm no lon ger struggles with cash flow.
“The best part, Susan, is that I’m having a blast. Every day is creative and interesting.”
How about you?
When will you make the switch to IMPACT based pricing?
If you’re eager but unsure how to get started, schedule a STARTER call with me.
Your new wealth begins with a single step.