For tax services, you or your firm probably bill based on time spent and charge-out rates, but is this a good idea? Are there any better alternatives, that improve client relationships and increase profit?
Reza Hooda, this episode’s guest, believes so – and it’s called value pricing.
But what is value pricing, and how can you price in this way for your tax services?
That’s covered in this episode, along with one of Reza’s first business ideas before he started running an accountancy firm.
Click play at the top of the page to listen or search for The Tax Professionals Podcast in your podcast player of choice.
Guest – Reza Hooda
Website: https://www.rezahooda.com/
Linkedin: https://www.linkedin.com/in/rezahooda/
Free book link: Https://go.rezahooda.com/order-348362211681564311623
Podcast: https://www.rezahooda.com/podcasts/the-profitable-accountant-podcast
Reza’s accountancy firm has now been running successfully for years – with strong profits and minimal time input from Reza. What’s not to like?
He’s spent time honing his craft, applying it to his firm, and now to help other accountants, he shares what he’s learnt.
He has a podcast (The Profitable Accountant Podcast) and released a book in 2023 called “The Four Pillars: How to Build a Accountancy Firm that Gives You More Money, Time and Freedom”.
Along with listening to this episode, why not take a look at Reza and what he has to offer, which could transform you, your firm and/or your career.
Timings
- A bit about Reza and his first business idea
- (15:30) What are the four pillars of running a successful accountancy and/or tax firm?
- (19:15) The ‘pricing’ pillar – how to price based on value and not time spent, increasing profitability with less effort
- (42:00) Giving different pricing options with tax/accountancy work
- (57:00) A bit about the ‘positioning’ pillar
Resources
Free book link (The Four Pillars): Https://go.rezahooda.com/order-348362211681564311623
Podcast (The Profitable Accountant Podcast): https://www.rezahooda.com/podcasts/the-profitable-accountant-podcast
Become an exceptional tax advisor
A key skill for any tax advisor is to be able to provide high-quality tax advice – the type of advice that clients are happy to pay for and that helps them as much as possible.
And doing the CTA qualification helps with learning how to do this.
You’ll be decent after doing CTA, but you’ll unlikely be excellent.
The better you are at providing advice, the more likely you are to get repeat business from clients, the more likely you are to get referrals, and the easier you’ll make your manager’s life when it comes to reviewing your work. The list goes on.
And this is where the Tax Advice Masterclass comes in. It’s designed to teach you how to provide the best tax advice possible.
You can get full details by heading on over to thetaxprofessionalspodcast.com/masterclasses
The next one is in February 2024.