🔴 Value based pricing can apply to any type of professional services, not just an accountant and tax service provider. In this video, I explain how value based pricing works and the principles can be used in your business if you procure professional services.
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We previously covered the 3 main methods Accountants and Tax Advisors use to charge you can be the difference between paying over the odds for something you don't need and paying the optimum amount for specific services tailored to your business! In this video we get into the specific about Value Based Pricing.
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⏱️TIMESTAMPS⏱️
1:00 - What Is Value Based Pricing?
2:12 - The 4 Logical Factors
03:26 - Is Value Based Pricing Right For Me?
04:47 - Recap
🔴 What Is Value Based Pricing
Value Pricing is a way of accountants pricing their services that gives you a transparent, value based approach to tax and accountancy services. For example, being charged based on number of transactions instead of an hourly rate. (Time based)
🔴 4 Logical Factors
Here at Aidhan we use 4 key logical factors to determine your tailor-made value based quotes.
1 - Business Revenue: Your turnover.
2 - Quality of Records: Digital is preferred as this will reduce time.
3 - Frequency of reporting - If you need reports weekly, monthly, or annually, the price will vary.
4 - Number of Items - If you're paying for services based on number of transactions, the more of these you have will naturally incur a higher fee.
🔴 CONCLUSION
Every business is different and there is no one-size-fits-all solution for accounting and tax advisory services. However, Value Based pricing is a great starting point for wherever you are in your business journey; the benefits of having a transparent, value based solution for your needs eliminates uncertainty and time-inflation often associated with time based quotes and services.
Make sure to do your research, and grab comparison quotes to use as a barometer for your own business. We offer no-obligation quotes for any size business, so feel free to use as as a jumping off point, or book in a 20 minute discovery call with us and find out how we can help you to know your numbers.
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★☆★ OUR MISSION ★☆★
Me & my team are dedicated to helping and empowering YOU to 'Know Your Numbers' so you can make calculated and informed decisions in your business, company and personal finances towards your definition of success.
★☆★ OUR PHILOSOPHY ★☆★
If you take care of your numbers (finances), your numbers will take care of you, your family and those you value the most.
🔴 DISCLAIMER
Our videos are for general guidance, education and empowerment in helping you understand accounting, tax and your numbers. They in no way constitute specific advice to your specific circumstances. Me & my team would be delighted to help you with your specific queries or accounting requirements through a formal engagement.
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