Episode 55

Pricing Strategies for Accountants and CPAs with Geraldine Carter (Highlights)

Published on: 19th November, 2021

Episode 55. On today's show, Rob Brown of the Accountants Influencers Podcast interviews Geraldine Carter on advanced pricing and negotiation strategies for accountants and CPAs. Discover some of the misconceptions accounting professionals have when it comes to pricing, why they are scared to raise their prices and the many benefits of better pricing for accountancy firms.

Geraldine is the founder of She Thinks Big Coaching, where she helps accountants and CPAs get out of the accounting rut. Her clients routinely double their margins in 6 months or less while working fewer hours. With a degree in engineering from Cornell, she is the co-founder and CFO of a company where her cashflow forecasting models resulted in millions of dollars for climate change efforts.

Key takeaways from the full uncut interview include:

＞ Why pricing is such a contentious subject for accountants and CPAs, and why it shouldn't be

＞ How billing and pricing are not the same thing, and the key problems with hourly timesheets

＞ How an engineering background brings clarity and logic to what can be an emotional subject like pricing

＞ What accountants and CPAs misinterpret when it comes to pricing and value

＞ Different pricing strategies accounting professionals can use in their practice

＞ The concept of 'value' and how to quantify intangibles with accounting clients

＞ A conversational framework to encourage a client to articulate what an accounting service may be worth to them

＞ The benefits for accountants to give their clients levels, menus and options to better price services and outcomes

＞ How accountants can arrive at a client fee from say a $250,000 uplift in their business - the ROI conversation

＞ What CPAs and accountants are really looking for to think and act differently with pricing

＞ How automation can be an accountant's friend or enemy depending on their blend of advisory and compliance services

＞ Thoughts on the various pricing tools available for accountants and CPAs

＞ The benefits of varying finance payment options for accountants providing advisory and project services to clients

＞ Whether compliance work for accountants should be priced differently to hourly billing

＞ Why accountants should NOT be scared of putting up their prices, but what makes them so fearful

＞ Why clients of accountants and CPAs pushback with price increases and how to counter this

＞ Blunt advice for accountants in larger firms who don't have the authority or influence to change pricing approaches

＞ What accounting practices need to do and change with pricing to increase revenues

＞ Helping accountants make the decision to price differently with your best or your worst clients to start with

＞ What happens when CPAs and accountants get better and more confident with pricing

In her free time, Geraldine can be found mountain biking forested trails or running after her two small children in her hometown of Ketchum in Idaho USA.

https://www.linkedin.com/in/geraldine-carter

website: https://www.shethinksbigcoaching.com/aip

PODCAST: https://www.smartstrategyforcpas.com

NOTE TO LISTENERS:

This is a condensed highlights version of the full interview (usually 20-30 mins long), which you can catch as a bonus UNCUT episode at the weekend.

Martin and Rob love to hear from the show's 7000+ listeners in 144 countries around the world. If you like the show, leave a review wherever you listen, and please recommend the show to your friends and colleagues.

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About the Podcast

Accounting Voices Podcast
Accounting Voices helps people in the accounting world stay relevant visible and vocal. Host Rob Brown interprets trends reshaping the profession and gives listeners insight to build authority influence and a stronger voice in firms and markets.
Accounting Voices, hosted by Rob Brown, helps decision makers and leaders in accounting and finance stay relevant, visible and vocal in a profession being reshaped by technology, private equity, regulation and shifting client expectations. Each episode interprets the trends disrupting accounting and finance such as AI, automation, M&A, talent and the move to advisory and translates them into practical insight that strengthens authority and influence.
Accounting Voices is also a platform for the wider ecosystem of networks, associations, educators, consultants, software vendors and technology experts who serve accountants and finance professionals worldwide. It extends into regular Accounting Voices networking sessions that connect this audience and amplify ideas that move the profession forward. With its international reach and long shelf life the show delivers credibility and commercial value for listeners and sponsors alike. Search for "Accounting Voices" on YouTube for all episodes and connect with Rob Brown on LinkedIn to find out more: https://www.linkedin.com/in/therobbrown

About your host

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Rob Brown

ob Brown is the creator and host of the Accounting Voices Network, a media platform that includes the flagship solo podcast Accounting Voices and the panel shows Accounting M&A and Accounting Tech. He chairs conferences, panels and virtual events worldwide and is recognised as a leading advocate for the accounting profession.

He is an accomplished speaker and authority on trust, reputation, employer brand, talent, succession, executive presence and the forces shaping the future of accounting. Rob is the author of the bestselling book Build Your Reputation (Wiley) and his TEDx talk The Personal Brand of You has been viewed more than 400,000 times.

A former co-founder of the Accounting Influencers Roundtable, Rob now focuses on amplifying the voices of leaders, firms, networks, vendors and influencers across the global accounting ecosystem.

Outside of work he is a stroke survivor, lives with epilepsy, holds a black belt in kickboxing and is based in Nottingham, UK. He plays chess and backgammon, loves orange chocolate and is allergic to grapefruit.