Value pricing panel becomes value pricing consultation 🎙 Live at QuickBooks Connect
At QuickBooks Connect 2019, we originally planned a discussion with three thought leaders on the topic of value pricing, including Rhondalynn Korolak, author of the recently released, "Pricing Value." However, life happens, and two panelists had to bow out. As luck would have it, though, we were able to enlist some perfectly-suited substitutes, Lee Podolsky, and Mary Hambleton, of Breakwater Accounting + Advisory, a firm currently transitioning from the billable hour into a value-pricing model. Our discussion explores some of the benefits and challenges of value pricing for firms, and clients.
Sponsors
- Intuit QuickBooks https://cloudaccountingpodcast.promo/quickbooks
Show Notes
- 02:05 – Meet Lee and Mary from Breakwater Accounting and Advisory!
- 02:48 – Meet Rhondalynn, author of "Pricing Value"
- 03:50 – Rhondalynn speaks to some of the challenges when it comes to adopting a value-pricing model
- 05:19 – How can you do value pricing if you never talk about value?
- 06:21 – Breakwater's challenge in moving to value pricing - really understanding the true value of the services they provide
- 08:31 – Another challenge for Breakwater has been the pricing itself, and how to determine their value on a per-client basis
- 09:29 – People only pay for what they value
- 10:22 – What does it cost a client - personally, financially, or strategically - to not have a solution to their problem?
- 11:54 – It doesn't take a lot of time to figure out when clients are solely focused on cost, and not value
- 12:52 – Peace of mind is one of the most difficult values to put a price on
- 14:18 – A large majority of small businesses suffer cash-flow and working-capital pain. Focus on finding ways to solve for that pain, and showing them what they could be saving
- 15:32 – Rhondalynn gives a practical example of adding value and solving a client's pain point
- 17:20 – The value-pricing conversation is very different than the conversations clients typically have with accountants
- 18:14 – Adopting value pricing means moving clients towards accountability and action - creating a valuable partnership
Connect with Lee, Mary, and Rhondalynn
- Lee Leonard Podolsky, President & Founder of Breakwater Accounting + Advisory
- Rhondalynn Korolak, Managing Director, Imagineering Now
- LinkedIn: https://www.linkedin.com/in/imagineering/
- Twitter: https://twitter.com/rhondalynn
- Website: https://imagineeringnow.com/
- Mary Hambleton, Director of Operations, Breakwater Accounting + Advisory
- LinkedIn: https://www.linkedin.com/in/mary-hambleton-09a68918/
- Twitter: https://twitter.com/MEHamb
- Website: https://www.breakwatercorp.com/
Get in Touch
Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram!
Meet Blake and David in person!
- Sadly, we do not have any 2020 travel plans as of yet.
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Episode Art Photo Credit:
- Will Farnell
- https://twitter.com/willfarnell
- https://twitter.com/willfarnell/status/1191506218424176640/photo/1
