Changing the way firms think and do business.
... being paid for what you’re worth rather than by the billable hour.
… improving your new business win rate by 25%.
… increasing new client revenue by offering multiple pricing options.
… being viewed as a true advisor by your clients.
Advanced Pricing Methods℠ (APM℠) – created by Michelle (Golden) River of Fore LLC – can help you achieve these goals, and more.
Technology is changing how accountants do business. Artificial intelligence can perform the more routine tasks - the most leverageable work – now performed by accountants and bookkeepers. Blockchain will transform the audit, requiring less time from the auditors. Tax preparers will see similar changes. This means that CPAs can spend more time providing advisory services, which bring greater value to clients.
The APM℠ process includes a deep dive into the opportunities, challenges and concerns of a prospect. Going beyond audit and tax compliance – services impacted by technology – positions you as more than a “number cruncher” and as an advisor who can help businesses and their owners at every point of the business’ life cycle.
With APM℠, you will explore an outcome’s worth with a buyer before proposing solutions. Once both you and the prospect have a clear understanding of the purpose of the work that is going to be done, and the effect the work will have, you can examine the worth from the prospect’s perspective. For example, why conduct a cost segregation study? One specific prospect can use the savings to expand their business and another to purchase new equipment.
Benefits of using Advanced Pricing Methods℠ include:
- stronger client relationships,
- proposing on more than audit and tax,
- working as a cross-functional team to package a group of services a prospect would consider worth paying for,
- no billing surprises,
- reducing “scope creep”,
- building trust with price certainty,
- identifying the best prospects,
- differentiating your firm via niche specialties,
- applying a formal, consistent pricing process.
Are you ready to adopt APMSM in your firm?
If you want the best results with APM℠ implementation —whether with a trial program or complete execution — we’ll begin with some preliminary discussions with your leadership team. You will increase your chances of success by building buy-in, determining how to launch the program, and establishing expectations about results and timing.
As an APM℠ certified instructor I can teach you the powerful tools and processes of APM℠ through Fore’s Advanced Pricing Methods℠ Essential Skills Workshop. You and your team will have the opportunity to use APM℠ techniques in breakout groups to understand the difference APM℠ will make for your firm. There is no advance preparation for this one or one-and-a-half-day workshop.
Fore’s Advanced Pricing Methods℠ Essential Skills Workshop covers:
- How to ascertain the most valuable parts of what you do
- How to identify scope risks and head them off at the pass
- How and why to offer multiple price options instead of a single price
- How to use your options as a scope-management tool
- How to anticipate and easily capture extra revenue for the additional work that arises
- Why it’s advantageous to put your customers in control of their purchases
Are you ready to learn more? Simply click the button below.