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Deeper Weekend 2014

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Pricing

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    Adrian Simmons
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    Bryan Coleman
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    Greg Kyte
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    Jason Blumer
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    Scott Kregel

Greg Kyte 2To celebrate the Fourth of July, I went to a Salt Lake Bees baseball game with a bunch of my comedian friends. Here’s a pro tip: If you take your kids to a baseball game, try to not sit near a group of comedians. I’m just saying that when we got there, there was a family with children sitting in front of us and another sitting behind us, and after Andy Gold explained under what circumstances he would and would not hook up with a transsexual, there were no families with children sitting in front of us or behind us.

 

Now I’m not much of a sports guy, especially not a baseball guy. I went to the game to hang out with friends and to watch the postgame fireworks show. Baseball just happened to be going on in the periphery of my Independence Day celebration. But we had decent seats for the game that I wasn’t interested in, and our tickets cost $17 each. Read more

Category:
Pricing
Comments:
3

bryanOne of the hardest things to do when you first jump the cliff is pricing your work. It’s especially hard in a service business. When you sell a product, you have at least one benchmark in terms of pricing and that is your cost to buy or build the thing that you’re selling.

In a service business, especially when it’s just you, there may be little to no direct costs for each new client. You’re basically alone in the wilderness and if you didn’t do a lot of pricing in your previous career, this can be an uncomfortable process that leaves you feeling lost. Read more

Category:
Cliff Jumpers, Pricing
Comments:
3

bryanThat’s right. I said it. I know, I know… You’re hungry for new business and it feels good to win a proposal. I know that feeling. I call it the “seller’s high,” like a runner’s high. I’m on top of the world when I win new business.

The problem is when you first start out all you want to do is win. It happens all the time. You need the work and there’re bills to pay and bodies to be nourished. These are real concerns for every new business owner. But at the same time, this can also create problems in the long term. Pricing too low early on in your business is a double-edged sword.

Here are a few of the downsides of pricing too low:

You wreck your capacity. By pricing too low, you create more work for yourself. Think about it. Depending on what your discount is to close these deals, it’s going to take a lot more clients to make a comfortable living. Read more

Category:
Cliff Jumpers, Pricing
Comments:
5

REFM -  Adrian Photo Square - CATOBI met Ron Baker in person for the first time in 2011. Before that, I had read his articles online and attended a webinar he presented. But in 2011, I attended the first Thriveal Deeper Weekend, which was a “Firm of the Future” seminar offered by Ron Baker and Ed Kless. That was two days of brain-crushing, mind-altering, future-shifting learning and dialogue.

 

I immediately started to change things: first with a handful of customers with whom we had strong relationships, then with certain service types, etc. I remember a year later, I’d hardly made the progress I wanted to, and was feeling down wondering if it was ever going to happen. I remember chatting with Ron around that time, and he mentioned in passing that firms usually take three years to fully transition to value pricing. Whew – I was much relieved: I still had time.

 

Three years later, I look back, and boy, there has been such a change between then and now. I’m happy to say, we’re now completely value priced — I’m still learning (and doubt I’ll ever stop), but I feel so much more freed as a business owner having gone through this process. I was recently reflecting on some of the realizations I’ve had along the way and wanted to share them with you: Read more

Category:
Pricing
Comments:
17

Greg Kyte 2An advertising agency in Minneapolis is bribing its employees with beer to get them to turn in their timesheets. This officially puts time tracking on the same level as having unprotected sex — many people only do it when beer is involved.

 

The firm enacted the program by developing The Tapserver, a beer-for-timesheets robot. The Tapserver asks employees to scan their keycard, verifies that the worker’s time sheet has been completed, and rewards the employee with his or her choice of beer from the machine’s “multi-keg beer deployment system.” The Tapserver’s software was written to tie seamlessly with the company’s timekeeping application. Read more

Category:
Pricing
Comments:
2

Greg Kyte 2I had Liberty Tax Service do my 2013 taxes. Don’t judge me.

I went because of Walt Disney. I heard he was inspired to create Disneyland because he was grossed out when he took his kids to some nasty carnivals. So I thought about what would gross me out in the accounting profession, and decided to go to Liberty Tax Service – the carneys of the accounting profession – for inspiration.

I arrived at Liberty Tax at 11:00 a.m. on Presidents’ Day. The open-concept office was austere: two small fake trees, white walls, fluorescent lights. The “waiting room” area had some toys for kids to both play with and contract hepatitis from. I assumed it was a temporary office. I was later told that it’s year-round. Read more

Category:
Customer Experience, Pricing, Taxes
Comments:
7