Blog

Pricing

Why Only Monthly?

Why only monthly

Since launching our brand new pricing system, Ekela, there's been a question that's come up a few times.  Why can I only quote monthly?  Why can't I quote annually?

Well, there's a really great reason for that.  Let me explain.  

Ekela is built to be something that no other pricing system is.  It's built to take advantage of everything I've been teaching from pricing over the last 7 years.  Based on research from some of the top names in behavioural economics, it pulls together the best advice…

Read more…

If You Offer One Price, It's Probably the Wrong One

If You Offer One Price

Go back a few years, and you’d find that most bookkeepers charged by the hour. It was crazy on so many levels and I spoke loads about why. Fortunately, time has moved on and the majority of bookkeepers now quote with fixed prices.

While this is better for clients, it’s introduced a very new type of crazy. The crazy of offering one single fixed price. However personalised for a particular client it’s more than likely the WRONG price.

We all place different values on the same item, so it’s virtu…

Read more…

How Much Should a Bookkeeper Charge?

How Much Should a Bookkeeper Charge

Wherever I look I see this same question.  How much should I charge for....?

I've even found a whole Facebook group set up just to share prices.  It's full of questions like "How much should I charge for £40k turnover with 10 invoices?" 

While everyone has an opinion on what the "going rate" is, it's very difficult to really pin down what a bookkeeper should charge in certain circumstances.  Every bookkeeper is unique and every client is unique.  We all see value in very different ways.  Even …

Read more…

Should We Charge for Onboarding?

20210108_144013_0000

The process of onboarding new clients is your opportunity to set expectations and boundaries for the future of your relationship.  

The process of onboarding has become more time consuming over the last few years. Money laundering checks are becoming more in-depth, with online checks costing money to carry them out.

The checks can sometimes involve a bit of back and forward to ensure that you have the documents to let you tick all of the boxes required.

It's not just a legal process, but also…

Read more…

Price for the Majority

Price for the majority

When you price your service you want to put them at the point where the majority of your buyers are able to afford them, thus selling to more people.  This makes absolute common sense.

It's also a huge mistake that so many bookkeepers around the country are making day after day.  

When I talk about my idea of a minimum of £35 per hour price point, I'm often met with the reply "That's fine for other places, but clients here won't pay that much"

It's almost like people in that part of the count…

Read more…

Don't Just Sell the Shelf

20200120_074728_0000

I made the crazy decision that a Saturday trip to IKEA was a great idea this weekend.  After being carried along in the crowd around the store, I noticed the same thing with virtually every product.

IKEA have planned their whole store to encourage you, the shopper, to spend more money with them.

They have a few base products, and then add-ons to allow you to personalise that product to your requirements.  

They don't want you to buy a KELLAX shelving system at £39.  They want you to add four …

Read more…

I Can't Charge That!

I Can't Charge That!

I believe that bookkeepers should be able to charge at least £35 per hour.

When I say that, how does that make you feel?

If you're like most bookkeepers I speak to, you probably let out an audible gasp. Or shouted at the screen "yeah, right!"

If you're charging somewhere between £12 and £20 you probably think £35 an hour is unachievable.  If you're charging up to £25 you probably think you're about the maximum you can charge. If you're charging less than £12 you must think I'm on another plan…

Read more…

Is The "Market Rate" Really That Important?

Is Market Rate Important

It's not unusual to hear the question "what is the going rate in my area for a bookkeeper?"

This question often saddens and frustrates me. It's especially concerning when I hear justifications for artificial maximum chargeable amounts being geographic area.

I genuinely believe that there is no market rate for bookkeepers.  Some business owners will see huge value in a bookkeeper and others will see little or no value.

When we try to target everyone, the people who see us of value and not, we …

Read more…

It's Circus Time

It's Circus Time!

It's circus time! They've come a long way since I was a wee boy.  They really are experts at keeping the audience amused and entertained.  Add in a few daredevil stunts and it'll make you gasp.

The other thing that the circus are experts in is pricing.  See how many of our usual pricing strategies you can see in my recent experience.

Initially they offer free tickets around the community they are visiting.  You can attend at absolutely no cost whatsoever. An amazing lead magnet, I'm sure you'l…

Read more…

Am I Worth It?

Am I Worth It

How many times have you procrastinated over your pricing? Maybe you need to increase your prices, or you want to quote a higher initial price but chicken out?

You just know that this client can’t afford to pay your increase.  You haven’t asked them. You don’t need to. You know.

I speak to bookkeepers about this very thing almost on a weekly basis and the story is always the same.  I was there myself not so long ago.

I walked in to meet a new client.  As I sat down in his office to listen to…

Read more…