A Journey to Value Pricing
If you are a CPA in Ohio, I hope you have alredy read my article in the June issue of the Ohio Society magazine, Voice. If you haven't or if you are not in Ohio, I hope you will take a few minutes to read the story. You can read it via their digital copy, the article is on Page 14-15 - A Journey to Value Pricing.
When I first talked with Linda Sheridan, CPA and Managing Principal of Snyder & Company, a Lancaster, Ohio CPA firm, I was surprised to learn the firm did not track time nor bill by the hour. Sheridan explained that the firm and all team members have fully embraced value pricing. My surprise turned to delight because Snyder & Company would be my first client not tracking time nor billing by the time recorded for the engagement.
While I was familiar with value pricing and actually use it in my own practice, I had not previously worked with a multi-partner CPA firm that used value pricing and I learned much from Snyder & Company.
Sheridan gives credit to her partner Vic Christopher for bringing the idea to the firm and playing a huge roll in making it all happen (along with the rest of the future-focused team, of course).
Curious about value pricing? Read their story and be inspired.
"What is a cynic? A man who knows the price of everything and the value of nothing." - - Oscar Wilde
Rita Keller is a nationally known CPA firm management consultant, speaker, author, mentor and blogger. She is a former shareholder and administrative partner in a successful, regional CPA firm and has over 30 years hands-on experience in CPA firm management, marketing, technology and administrative operations. She works with firms across the country focusing on people, partners and internal management issues.