Pricing is important to success in the small business. I use the same cost control strategies as recommended to my small business clients to maintain a low price, high value competitive advantage in my field. The savings are passed on to clients in the form of lower pricing.
My highest value competitive pricing strategy depends a few operational procedures:
- Written agreements help improve communication about the details of engagements and our expectations.
- Electronic payments made timely.
- Work scheduling to avoid last minute rush.
- Ongoing informal electronic communication to keep in touch while ‘on the go’ to supplement in-person and telephone sessions.
No charge services
I offer an first consultation without charge. Also, other services I may offer before an engagement agreement are provided without charge.
My fee is based on a stated dollar amount or stated formula for the successful completion of a contracted service based on an expectation that the demonstrated value or result of this service to you or your business. The value of the expected result must be higher than the expected cost in order for us to work on this basis. This fee approach is driven by results and so the fee may vary under different outcomes . The fee is always agreed in advance, in writing.
I rarely if ever work on an hourly rate but sometimes we are asked for this information for comparative purposes. The engagement agreement has a limited quantity ‘spill-over’ clause expressed in 10 minute billing increments that works out to an hourly rate of $180 for me and $60 for bookkeeping.