Smarter Pricing Strategies for Accountants & CPAs - Accounting Influencers Podcast

Episode 119

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Published on:

10th Sep 2020

Smarter Pricing Strategies for Accountants & CPAs

Tim Williams roams the globe in search of “next practices” in the world of professional services. As the founder of Ignition Consulting Group, he teaches leaders of professional services firms the principles and practices of effective positioning and pricing strategy. His assignments have taken him literally around the world, where he has worked with advertising agencies, law firms, accounting firms and business associations on every continent.

Tim is author of two books, the latest of which is “Positioning for Professionals: How Professional Service Firms Can Differentiate Their Way to Success.” He is serves as one of LinkedIn’s global influencers, where several hundred thousand followers regularly read his articles on positioning and pricing strategy. Shownotes:

  • Why law firms are to blame for the billable hour and charge out time sheets
  • Why getting pricing right is so critical for profitability in accounting firms
  • The four factors that improve margins in an accounting firm
  • The biggest reason professionals like accountants struggle with pricing
  • Why most professional firms don't actually have a revenue model but a cost structure, which is not the same
  • The ideal revenue model that represents the future of pricing for accounting firms
  • The difference between creativity in accounting and creativity in pricing accountancy services
  • Why the billable hour is a sub-optimal way of pricing for accountants
  • Why costing is a science but pricing is an art
  • The different pricing options available to accountants and the merits of each
  • The major problem with the term 'value pricing'
  • Evidence that the world is shifting towards a subscription economy
  • The main reason why an accountant should always offer a client options
  • How accountants have ceded power to buyers over the years by educating them wrongly on pricing
  • One of the worst things accounting firms do when it comes to pricing
  • Are you selling activities, efforts and inputs or outcomes, results and outputs?
  • What it means for your accounting firm if your prospects or clients are shopping or choosing you on price
  • An excellent metric to decide whether your accounting firm is pricing correctly
  • How accountants can change the dialogue around pricing with existing clients
  • Tips for pricing outcomes or results that are out of your control or influence
  • How your positioning in the marketplace affects your ability to price optimally
  • Shout out to pricing experts Ron Baker and Mark Wickersham
  • What accountants must consider to avoid becoming trapped on the 'hourly rate treadmill'

Tim Williams on the Accounting Influencers podcast with BD Academy founder Rob Brown

Although Tim started his career on New York’s Madison Avenue, today he finds it much more rewarding living in the Rocky Mountains, where he spends his spare time in Utah’s red rock country hiking with his wife and two Airedales. Contact Tim here:

Website and blog

LinkedIn

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About the Podcast

Accounting Influencers Podcast
Host Rob Brown shows accounting professionals and leaders how to be more influential, grow their personal brand and be more authoritative, relevant and high profile in their roles..
The Accounting Influencers Podcast, hosted by Rob Brown, is a must-listen for accounting professionals looking to strengthen their leadership presence, stay informed on disruptive forces in accounting and build credibility within their firms. Geared toward firm leaders, managers, partners and influencers, the show covers key topics like career development, influence, personal branding and interpreting the evolving trends impacting the accounting world. Rob brings his expertise to each episode, offering insights and guidance on how to grow your personal brand and stay strategically important in a rapidly changing profession. Whether you're aiming to influence within your firm or expand your reputation outside of it, this international podcast offers practical advice and forward-thinking insights that will keep you informed and prepared for the future.
Accounting leadership
Executive presence for accountants
Building influence in accounting
Accounting industry trends
Personal branding for accountants
Accounting firm strategy
Accounting business models
Leadership in accounting firms
Talent management in accounting
Authority in accounting profession
Career development for accountants
Accounting firm growth strategies
Influencers in accounting
Accounting firm management
Disruptive forces in accounting
Accounting leadership strategies
Accounting career success
Accounting firm decision-makers
Accounting business trends
Building credibility in accounting

About your host

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Rob Brown

Rob Brown hosts the multiple accounting podcast and chair conferences, panels and events globally for the accounting and fintech profession. He is co-founder of Accounting Influencers Roundtable (AIR) which helps vendors, experts and influencers serve the accounting and finance world. He is a dynamic speaker and accomplished expert on trust, reputation, employer brand, talent, career development, succession, gen z/generations, employee advocacy and executive presence. Rob is author of the bestselling book Build Your Reputation (Wiley) and his TEDx talk ‘The Personal Brand of You’ has been viewed 400,000 times on YouTube. He is a stroke survivor, has epilepsy, is a committed Christian and has a black belt in kickboxing. He is based in Nottingham UK, home of Robin Hood, plays chess and backgammon, loves orange chocolate and is allergic to grapefruit.