How to build a bulletproof pricing strategy for advisory services

Setting a pricing strategy is arguably the most intimidating process for any new advisor. It’s complicated and scary enough that there are pricing consultants to help you price… your consulting services. Let’s simplify this a bit. The fact is, everyone has a maximum amount they are willing to pay for a good or service. It’s your job to get as close to that as possible. 

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The Complete Guide to Healthcare KPIs for Accountants and Physicians

Every modern medical practice owner has to do two things: provide excellent healthcare and grow a thriving business. 

Most physicians have the first part covered - they started their practice because they believe they can offer a higher quality of care than the next physician.

The second part - growing and managing a thriving business?

That’s tricky. 

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Ask these five questions to every advisory service client

Many accountants think advisory work is just offering balance sheet ratios or asset ratios because that’s what the reporting tools of yesteryear have lead you to believe. In reality, adding value as an advisor is about understanding your client’s deepest business challenges and providing them with the data to make better decisions.

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How to Price Business Advisory Services for 10:1 ROI

A popular question I get from accountants looking to make the transition is around pricing advisory services vs compliance work since it’s vastly different in nature. It’s unfamiliar territory: compliance work is typically more task-oriented and advisory tends to be a bit more subjective (although it shouldn’t be, but I’ll save that for another post). As you’ve heard time and again, the answer is value-based pricing. It’s about pricing for perceived value of your services rather than marking up the cost to deliver them.

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The Best Metrics to Manage Your Rental Real Estate Portfolio

Traditional real estate portfolio management reports provided by accounting firms include a Profit & Loss Statement (P/L), a Balance Sheet (B/S), and Statement of Cash Flow.

The Profit & Loss shows the income and expenses for any given period, the Balance Sheet shows a company’s assets and liabilities for at any point in time, and the Statement of Cash Flow shows how the cash was utilized for a given period.

The flaw of traditional accounting reports like these, and P/Ls alone, is that they report the facts for a given period but fail to provide any actionable information. What factors contributed to those outcomes?

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How to Validate Your Business Concept with Data

One of the best exercises you can go through as you initially validate an idea is to go out in public and interview people who would be your potential customers. There’s no other way to get feedback on your concept initially, and one thing that’s way more uncomfortable than talking to strangers about an idea is spending 100’s of hours building that idea, to only find out no one wants it.

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