In this video you will find out how an accountant in the UK is getting much, much higher prices. To find out more about the system Reza uses click here:
Reza Hooda runs a small - yet highly impressive - accounting practice in the South of England.
I caught up with Reza in October 2018 to find out more about the amazing things he is doing. Interestingly, like most accounting firms he used to price based on gut feel, guesswork and copying what the previous advisor charged.
In his own words, it's a crazy way to price.
He's changed that completely. Reza has a systematic way of pricing that is getting much, much better results.
I recommend you watch the full video.
In the video, he describes the process he now follows and how his 2-meeting approach is helping the practice win better clients - often fees of £7,000 to £30,000 - and at better prices (consistently 30% higher than he used to price and sometimes as much as 100%).
In the video, Reza shares some great tips. Here are some of them:
Avoiding the guesswork with systems
Reza has systemised the process of pricing so there is no guesswork. This gives him greater confidence and eliminates uncomfortable “haggling” and “negotiating”. He explains why clients love the way he prices because there is complete clarity, certainty and transparency. There are no surprises.
Always giving the client choice
Reza explains why he always gives the client options, the reason why this works and how it's helping him get higher prices. His clients feel they are in full control because they get choice throughout the process. The client builds the service that best meets their needs at a price they effectively choose. Interestingly, Reza finds about 25% of people choose to buy his most expensive, premium option and only a few opt for the cheapest.
Better communication of value to the client
The way Reza communicates the value to the client is fascinating, using tools such as brochures and other systems. Reza describes his one-page summaries showing the client what their options are and everything they get. His clients love this way of pricing because they better understand what’s in it for them.
And it’s better for his clients too
Reza tells a great story of one particular client he applied his unique pricing approach to get a fee of £21,000 and most importantly, how the client benefitted, because a better fee gave Reza the budget to go deeper and find big savings for the client. When you get better prices, you can afford to ‘leave no stone unturned’ in your quest to do the very best for your clients.
Wishing you every success on your value pricing journey
Mark Wickersham
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