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is pricing a marketing function?

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ten steps to designing your pricing strategy.

by august j. aquila
price it right: how to value accounting services

yes, pricing is indeed a fundamental marketing function. it plays a crucial role in determining the value of a product or service in the eyes of customers and has a direct impact on a company’s profitability and market positioning. pricing decisions are typically made based on various factors such as production costs, competition, target market, positioning strategy and customer perceptions of value.

more: develop your personal marketing plan in ten steps | five ways to make partners fall in love with marketing | losing can help you win more | eight areas to cover for personal goals | service quality: the key to client retention | how life cycle changes your marketing | clients buy solutions, not features | make sure you know what you will get from your marketing | three pillars support a successful accounting firm | clients have six reasons for needing you | six ways to market your technology consulting practice | sixteen marketing activities to try
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here are a few reasons why pricing is considered a marketing function:
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why staff leave cpa firms… and how to keep them

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five young business people at work in an office setting.

the 14 top reasons they depart, plus insights from young employees.

by marc rosenberg
cpa firm staff: managing your #1 asset

the following data is from recent rosenberg surveys.

more: how to solve the big disconnect in talent management | what relevance means for staffing in accounting | how accounting staffing has changed
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perfecting the client needs assessment

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standardization will make you more efficient, effective and profitable.

by jody padar
radical pricing – by the radical cpa

a client assessment is an onsite or virtual session where you observe the client’s accounting system on which you’ll be working. this is your opportunity to see how they run their business: their software, their processes and who does what. this is when tasks and responsibilities are clarified and assigned. both the client and your firm need to understand their responsibilities in this new partnership.

more: four steps to scoping for alignment … and the #1 rule to remember | getting aligned on scope helps your team and your clients | create more meaningful kpis | here’s how profit sharing improves your firm | five areas to ground new metrics other than time | five reasons to ditch timesheets for good | productize services for consistent client value | digitize clients for standardization | six steps to creating a standardized practice | four ways automation pushes the paradigm shift | are you the key signal caller for your clients?
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this assessment also allows you to fully understand the client’s service needs. it is a real-world assessment of services, budget and the work required to provide deliverables. it will also allow you to understand what it will take to onboard them. again, this assessment goes both ways. it’s worth assuming you have competition, so take advantage of this time to impress the client with some consultative advice demonstrating the value you bring to the table – this is especially true if you are charging for the assessment.

one of the key benefits is the ability to limit your risk and as you:

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three ways to make it easier for prospects to say yes

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woman staring at watch in waiting area

bonus: checklists to implement each one.

by sandi leyva
the complete guide to marketing for tax & accounting firms

change is hard on all of us, and there’s no exception when it comes to new customers taking a first step to do business with you.

more: make your next busy season easier now | how to put your strengths to work for you | are you throwing away profits? | three steps to becoming a millionaire | how to use chatgpt to create images | create a bad website in ten easy steps | leverage your strengths to beat stress | are you crossing off your business bucket list? | ten ways to make your business irresistible | five ways to target the low-hanging fruit
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the question is, how can you make it easier for clients to get through that change so that they will do business with you?

the key is to be as approachable as possible, and here are some tips to do that. read more →

ingrid edstrom: true wealth is not financial | the disruptors

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work-life balance means integrating work and life so that the work we choose to do expresses who we want to be in the world.

this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members. 
subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google, spotify, iheart, deezer, amazon music and audible, player fm, audacy, gaana (india), and boomplay (africa).

the disruptors
with liz farr

ingrid edstrom wants accounting to be not just a more sustainable profession but one that’s regenerative. “this idea of sustainability is really operating from the idea that things can continue to perpetuate as they are,” she explains. a firm may be financially sustainable, “but at what cost to our families, to our personal health?”

more podcasts and videos: caleb jenkins: firm growth requires owners to shift roles | chris hervochon: be the leader you want to work for | ira rosenbloom: don’t merge for the money | adam lean: get out of the accountant’s trap | geraldine carter: charging more is better for your clients | vimal bava: when working smarter, not harder, is the only option | dawn brolin says grow your firm by shrinking it | jason blumer & julie shipp: move leaders out of client service | james graham: drop the billable hour and you’ll bill more | karen reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusion | bill penczak: stop forcing smart people to do stupid work | sandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow |

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the regenerative approach recognizes “that we’ve already passed a threshold of harm that needs to be healed,” edstrom says. “regenerative accounting is starting to reframe those ideas around ‘what does it look like to go about business in a different way that is truly life-supporting for all peoples and our planet, rather than being extractive of our planet and exploitative of our peoples?’”

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four reasons accountants struggle with selling

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businessman with head in hands

reframe your thinking.

by martin bissett
business development on a budget

let’s take a look at the last 20-plus years of my experience and my research as to where new clients come from in an accounting practice. i don’t think there are going to be too many shocks here.

more: think of it as service, not selling | eight questions for personal preparation | how to prepare for partnership | stop waiting for business to come to you | are you projecting confidence? | do you deliver on your website’s promises? | showing leadership through customer service | firm not thriving? five fixes | the real math behind the sales pipeline | five questions for grading prospects | be clear about your roi proposition | don’t let recurring fees kill your practice | two steps toward mastering selling | nine checkpoints before every prospect meeting
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what i’ve found is that 82 percent of all new clients in a given year who come into an accounting firm come in from a referral source. this may be a bank or a lawyer or some other source, perhaps an existing client, who has recommended that a particular business meet with your firm and come on board as a client.
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new warehouse robot could revolutionize efficiency

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mytra’s innovative system lessens the need for forklifts, maximizes storage space and automates heavy-lifting tasks.

by rick richardson
technology this week

the warehouses of the world are surprisingly empty spaces. there’s a lot of material in these vital nodes of the complex global commodities of our transportation system, but there’s also a lot of vacant space on the floor between their racks. the space is there to make room for the forklift, the workhorse of the warehouse, which must have room to maneuver when lifting and carrying pallets loaded with hundreds or thousands of pounds of merchandise. a forklift needs plenty of space and a professional driver to do a mundane but dangerous task.

more: new pacemaker powered by light, no batteries | microsoft patents an encryption system to block visual hacking | recently discovered antibiotic spares ’good’ bacteria | is nasa about to make air travel cheaper? | startup creates legolike brick that can store air pollution | ai displacing more jobs in banking than other sectors | your brain can store 10 times more than anyone thought | how many ev charging stations will we need? | google launches new private space feature | microsoft discovers a security flaw impacting android apps | what is an ai pc, and should i get one? | fool’s gold may not be so foolish now | ai-engineered enzyme could be solution to plastic pollution
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a new robotics firm recognizes an improved approach to warehouse management. mytra, a company created by former employees of tesla and rivian, wants to automate and combine warehouse activities by using a robot and a storage rack system to improve the efficiency of product movement. this could also make the forklift obsolete.

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artificial intelligence: it’s a matter of time

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bar chart

what are you saving it for?

by 卡塔尔世界杯常规比赛时间 research

what is artificial intelligence good for? we still don’t know. we know it’s going to be good for a lot, but so far, we’re using it only for a little – just a taste of what’s to come.

more: ai will steal your job. and that’s a good thing | allan koltin: how small firms can thrive against pe-powered competitors | the power of community in accounting | desperate cfos are outsourcing accounting functions | does firm culture still matter? | tax and accounting jobs and salaries show strength | tax law is driving practice development | olympics of outsourcing and offshoring for accountants | new study: strong and steady growth for accountant jobs and salaries | turnover timebomb: 4 of 5 senior managers at risk
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one major impact will be on that elusive infinite, time.

for one thing, ai’s going to save a lot of time. tasks that used to take hours or days will soon take mere seconds.

but is that a good thing or a bad thing?
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eleven types of audit clients and which to fire

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bad clients can bring turmoil by increasing the likelihood of regulatory scrutiny, legal troubles and reputational damage.

by alan anderson, cpa
transforming audit for the future

in the realm of auditing, client selection is a critical decision that can significantly impact the health and harmony of your team and your firm. auditors should be highly selective about their clients because engaging with entities that lack ethical standards, have complex or opaque financial practices, or demonstrate a history of compliance issues can lead to substantial risks and challenges.

more: don’t risk losing good employees for bad clients | can a service center model solve audit staffing shortages? | move to advisory and assurance with relevance | use eight audit exit items to deepen client relationships | know your three audit w’s | planning lays the foundation of audit relevance | are you correctly identifying the relevance intersection? | traditional audits don’t deserve premium billing

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when we discuss the types of clients that our teams find challenging to work with, we can divide them into these categories:

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hourly billing doesn’t cover the value; now what?

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a lesson in applying judgment.

by ed mendlowitz
202 questions and answers: managing an accounting practice

question: i helped a client get a bank loan, negotiated the rate and fees with the bank and had a tight covenant loosened. i prepared a personal financial statement, prepared a compilation statement for the business, projected financial figures and accounts receivable projections and reviewed and discussed them with the bank, and had numerous conversations with bank and client.

more: ask for what you’re worth | the top tip for reviewing tax returns | you have to start somewhere | two options for collecting past due fees | you can’t win with lowballing | nine reasons not to specialize | when board service gets tricky | yes, you have to share work papers | hiring experience vs. training inexperience | eleven ways new staffers can help bring in business | should you merge? here’s how to chart your path
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