For almost fifteen years, I’ve been helping firms implement more profitable, sustainable, and “feel good” practice fee models.
To celebrate the launch of my Bulletproof Pricing course, I wanted to share ten high-level insights from recent times.
- Premium sale prices these days are paid for practices with 40-50% plus profit margins.
- If the right people are in the room, creating a new fee model for a practice can be done in less than 90 minutes.
- Bulletproof Pricing was assessed for 8 CPD points by Ensombl.
- The average firm that hasn’t gone through a structured pricing exercise is losing up to seven figures in revenue due to undercharging.
- To see a drop in revenue, an average increase of 30% would have to result in you losing 23% of your client base.
- If you charge less than $4,000 for new advice, your firm is either insanely efficient or sub-profitable.
- There is no such thing as “fair value’. Pricing psychology shows that all value assessments are subjective and based on individual perceptions.
- The part of your brain that judges price is the same, which allows you to judge the distance of the car in front of you or work out which suitcase is heavier when you lift it.
- Fixing a pricing model is the fastest way to create profit bar none.
- You can comprehensively launch a new pricing model in six weeks and have conducted a full transition (at Review) within 12 months.
What insights have you gathered from your pricing journey?
If you’d like to check out the Bulletproof Pricing course, check out https://audere.com.au/bulletproof-pricing for details.
