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Jodi Padar prides herself on being a disruptor, and rightly so. She is at the top of the list as someone who comes up with new ways to manage and price services and provide added value to clients. Her ideas disrupt the traditional way that many accountants have worked. In my opinion, she gets angry sometimes because she knows that what we have been doing so far will no longer be effective in the future.
Any change is destructive. It causes abandonment of what has been done in the past and adoption of untried methods. Contemplating and facing change should be upsetting, surprising and upsetting. Jody's new book, Radical Pricing: How to Optimize Profits, Delight Customers, and Build the Highest Value Company is the Rosetta Stone of practice management that translates what you're doing and transitions you to Jody's new pricing methods and models.
This is Jody's third “radical” book and deals primarily with pricing. Pricing should actually be something that is familiar and important to everyone. We price our services appropriately, present prices the right way, understand price and value to our clients, understand costs, be aware of the timing of our services, and help others use our services. You need to know if you can. They can perform the same service faster for a lower price, and I don't know if that's a reality, but they can present you with an invoice and get paid. There is a lot of input during this process without losing sight of the full importance of the previous sentence. It's complex, but Jodi's book provides techniques, logic, methods, approaches, checklists, radical exercises (these are great!) and important questions readers may have and actionable directions. Some answers have been simplified as an appendix.
Jody's book begins with a maxim about how pricing affects every area of ​​your practice. I believe this needs to be thoroughly understood before adopting an effective pricing model. She makes a persuasive argument that responsible practice owners, partners, and managers should be aware of their approach to pricing and the care they should put into it. Additionally, she completely agrees with Jody about the importance of value assumptions. This is something that I, like Jody, feel is very overlooked when pricing contracts. She copes with this brilliantly.
Pricing affects every aspect of your practice. We spend huge amounts of money on technology to save time and increase the data we provide to our clients while significantly reducing delivery times. As well as new ways to communicate data containing insights, thoughts and opinions that add further value to the client experience. Specific content that I found insightful included: adopting a pricing subscription model, how to handle tiered service packages and add-ons, a step-by-step guide to implementing value pricing, and especially The difficult part was how to get started. Trying something new, standardizing many parts of the work with an effective roadmap that takes into account individualization, integrating digitalization, assessing customer needs, Jodi's new key performance indicators (KPI) metrics, Scoping and creating client service packages, getting buy-in from established companies, legacy clients, and much more.
There's a lot going on when it comes to pricing using radical techniques. But this book is about more than just the price. This is a complete practice management “course” with a focus on pricing. I think everyone reading this book will be able to implement at least one new method or technique that will immediately start generating revenue or make your business flow more smoothly.
This book is a do-it-yourself roadmap that shows you how to become a Radical CPA and adopt the latest and most effective pricing techniques. The book also includes an appendix with a great Q&A list to help you get started. You don't have to do everything at once. You can start small with one or two clients. This book shows us that we need to be radical. Let's start being radical!
This book is published by CPA Trendlines and can be purchased below.
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