PRICING!
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As many of you know, last week saw quite possibly the hottest event (in more ways than one 🥵) of the accounting calendar – Accountex !
Did you have the pleasure of attending or were you boycotting social media to avoid FOMO?!
As always, Accountex didn’t disappoint!
Where else can you visit Intuit QuickBooks inside a castle, have a hot air balloon ride courtesy of FreeAgent , and come 2nd (momentarily!) in the leaderboard for the most runs in a game of VR cricket with Sage (and that’s before we talk about the cool picnic blanket and rugby ball I brought home!) all before finishing the day enjoying the view from the cable car?!
Whilst I would have loved to have seen more talks on Advisory beyond Will Farnell‘s App Advisory Plus stage; there certainly was something for everyone at every point of the day when it came to the inspiring, motivating and honest talks at the 12 theatres.
The one that really stood out for me, was on Day 1 in the Bookkeepers Theatre, all about Pricing! It captivated, inspired, and motivated the entire audience…. ..even if I do say so myself!😝
Every single bookkeeper and accountant that I speak to knows that they are significantly undercharging their services but don’t know how to fix it.
This is exactly why, despite having a huge fear of speaking (even to friends and family!), I stood up in front of tonnes of bookkeepers and accountants last week at Accountex and talked about pricing!
Just look how many people squeezed in to listen! (This was with 10 minutes to go until my talk started too!) I was only expecting 5 or so people and so I was a little taken aback when I stood on ‘stage’ but this just shows how many people were eager to learn how to confidently price their bookkeeping and accounting services and made the sleepless nights and fear worth it!
I captured the audience’s thoughts on pricing – does pricing make you feel uncomfortable, nervous, frustrated, confused too? Hopefully this helps you realise that you are not alone in feeling this way!
This is exactly why, despite having a huge fear of speaking (even to friends and family!), I stood up in front of tonnes of bookkeepers and accountants last week at Accountex and talked about pricing!
One of my favourite answers has to be ‘hell’! 😂
By the end of the 40 minutes (well, actually within the first 5 minutes!) I could see the audience’s thoughts on pricing change as they suddenly became inspired and educated and eager to get back to the office so that they could sort out their pricing structures, book clients in to be repriced, and get rid of all the discounts they’d been giving too!
For many, the first light bulb 💡 moment was when I gave my first revelation of the day:
⚠️ No one ‘wins’ when pricing by the hour ⚠️
💣
The 💡 pinged again when I explained that bookkeeping and accounting is no simpler or harder whether you live in Scotland, Sheffield or Surrey; it is no simpler or harder whether you are qualified with ICB UK (Institute of Certified Bookkeepers) , IAB , AAT , CIMA, ACCA , ICAEW or qualified by experience; no simpler or harder whether you have 2 months, 2 years, or 20 years of experience, or simply just starting out…..
The excitement really did peak however when we started to share how much we charge for certain services..
Unfortunately too many Pricing discussions, talks and workshops teach you the mindset and may share some top-level information when it comes to pricing, but no one seems to share exactly how much you should be charging and so I went to Accountex with a mission to change this with a bang and not only shared my thoughts on what you should charge, but encouraged everyone in the audience to share what they are charging too!
Yes, I could have stood on stage and told everyone that you should be charging £700 minimum for compiling the statutory accounts and corporation tax return (CT600) for a client with £70k turnover; but how much more inspiring and achievable does it feel once you’ve seen how your pricing compares to your peers?
Every single area we covered from hourly rates for bookkeeping and accounting services, to processing sales invoices, purchase invoices, and reconciling bank transactions to payroll, self assessments, advisory and between, the audience we very quickly scribbling down their new prices!
Unfortunately WiFi and tech wasn’t our friend on the day which meant we didn’t get through all the services, and not everyone who wanted to was able to participate however this is a blessing in disguise for those of you who missed Accountex and my talk as I am hosting a Pricing Workshop this Tuesday 28th May at 1pm which will run through my talk from Accountex and exactly how much you should be charging for your bookkeeping and accounting services.
Spaces are limited to 100 of which there are only 14 spaces remaining so grab yours before it’s too late here:
Pricing Workshop! Book Your Space HERE!
There will be a recording available for those who can’t attend live – but you must register to receive the recording!
(There is a small nominal fee to join of just £5 to help cover my time and costs, but if you genuinely can’t afford it, give me a shout and I’m sure we can sneak you in!)
For those of you who just want a tool to assist you with your pricing, there is of course my Pricing Calculator available too.
Simple, user friendly and easy to use just like the video shows.
It has suggested pricing already populated so you can instantly quote new clients or re-price existing clients simply by selecting the services they require.
You can of course easily over-ride my suggested pricing and also add any additional services that you provide your client that aren’t already included (if you find anything not already included!!)
Grab your Pricing Calculator here!
🌟 Bank Holiday Discount!! 🌟
To celebrate the not-so sunny bank holiday weekend, enter “BankHol” in the Coupon field to receive a nifty 15% discount, but be quick as this discount is only valid until the end of Monday, and also the super cheap launch price ends next week too so grab your bargain whilst you can!
Hopefully see you all on Tuesday! (Book your place here!)
I’d love for you to share in the comments how you are finding pricing currently too! Love it? Loathe it? Stressed by it? Making tonnes of profit?! Not making enough money?! Not sure how long the piece of string should be for Advisory services?!
Join the accounting revolution
Are you ready to embrace the potential of advisory in your practice and become a catalyst for growth?
If you haven’t fully explored these services yet, it’s time to consider the immense value they can bring to your clients and your practice; this is before we even consider the additional revenue and profit it can generate for both you and your clients!
By integrating advisory into the services you provide, you position yourself as a forward-thinking, proactive professional, capable of delivering holistic support that goes far beyond the numbers. Advisory allows you to guide business owners, shape their success and help them achieve their aspirations.
So, embrace the power of advisory, and unlock the full potential of your profession as a trusted advisor.
Need Support?
Click on the “Schedule Time With Me” button where you can book a (free!) virtual cuppa with me; register for my next Advisory webinar or book a 1:1 Superhero session (power hour) depending on the help you need to take your advisory offering to the next level.
To celebrate this being my first post, I’d love to thank you for taking the time to read by offering you a significant discount on my Superhero (Power Hour) sessions – Book here before 18th June to take advantage of the £51 saving!
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