My guest today is Erica Goode. Erica is a freelance finance professional, working with a small handful of clients, focusing on financial forecasts while staying out of tax as much as possible. Many CPAs choose hourly billing when they...
My guest today is Erica Goode.
Erica is a freelance finance professional, working with a small handful of clients, focusing on financial forecasts while staying out of tax as much as possible.
Many CPAs choose hourly billing when they don’t know how long it will take.
This pricing methodology - if it can be called that - leaves your client without a clear price.
While it may seem like the safest option, if the project takes much longer than you anticipated, either your client is left with the high cost of your unanticipated work, or you eat the hours. If you split the difference, you are likely both left with a sour taste.
By simply setting the price at the maximum length of time you might take, you
Pricing new and one-time projects is difficult. Consider these strategies when setting your price:
When you share your price, pay attention to their reaction.
If it was an immediate Yes, you know there may have been room to go up. If there is a pause, you are likely in the right range. If they say no, recognize they just saved you from either sending a higher-than-desired bill, or eating your hours. In this case, no is not a bad thing.
Getting your pricing right is the single most important change you can make in your business.
If you still bill by the hour, head on over to SheThinksBigCoaching.com and take my free 5 day email course: Better Pricing Strategies for CPAs.
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