Reza Hooda used to price based on a mixture of hourly rates and gut feeling.
Then he learnt about value pricing through my mentoring programme and it completely transformed his business.
In the interview he says:
“I could see how time-based billing was completely ludicrous. So we scrapped that idea completely, and then started to price much more based on value.”
An opportunity arose for Reza to use his newly learnt value pricing techniques to price an incorporation project involving a property client.
By using menu-pricing
He sat down with the client and worked out what they wanted to achieve and where the value in his service was.
Based on that, he prepared a proposal and, using the menu pricing tactics, presented his client with 3 options.
It was priced at £66,000. And they accepted it.
By using the Cloud Pricing software
Reza used to price his compliance work by charging a similar rate to the client’s previous accountants.
But since having a software based approach that comes up with a price that is unique for the customer based on their particular wants and requirements, he has noticed a huge improvement in his pricing.
“You get a better result when you include the customer as part of the buying process.”
“What I love about Cloud Pricing is that it is so customisable. You can pick and choose how you do things to get the most optimal result.”
He uses this software daily to price every compliance service.
And because of the ability to customise Cloud Pricing so effectively, he was able to create separate modules and build a system of questions to effectively deal with a large business with a £5 million turnover.
You can learn more about the software here.
You can then start getting better clients
Reza has found that this new way of pricing has brought him much higher quality clients.
Some clients that were troublesome or difficult have been put off by this new way of pricing. This was perfect because it allowed Reza to commit more time and care to his more valued clients.
He can afford to be more selective in terms of who he takes on, which is a great position to be in.
I recommend you watch the whole interview here to learn just how Reza achieved such amazing results.
Click here for access to my free monthly training to learn how to crack value pricing, just like Reza.
Wishing you every success on your pricing journey.
Chartered Accountant, public speaker and #1 best selling author of “Effective Pricing for Accountants”
Your Pricing Journey gives you access to my pricing training delivered every month in easy to digest, and easy to implement, steps.
So if you sometimes find yourself working too hard, for too little money, this programme will solve that problem.