EP421: Spotlight - Joe Woodard - Conquering The Pricing & Service Dilemma

“We are in a supply/demand economy that favours the
suppliers. And it's economics 101, if you have a supply shortage
that can’t meet all the demand of the market, then you increase
price.”
-Joe Woodard


Compliance is one of the biggest realms of challenge for
bookkeepers, but it also provides consistent opportunity. The
rules and regulations change so frequently that it can be hard to
keep up, and if we feel that way, just imagine how
non-bookkeeping businesses feel about it.


Supply and demand rule the market, and there is always going to
be a supply of potential clients who would rather just pay
someone to take care of the books for them. Despite this, we have
to be careful not to fall into the trap of undercharging and
over-promising. 


Having hundreds of clients might feel like a success, but it
probably doesn’t to the clients who barely get any of our time
and, of course, if you're overworked for long enough, burnout
will likely be in your future.


Joe Woodard, acclaimed speaker and trainer, is this spotlight
episode’s featured guest. He has spent his career helping
businesses solve their complex operational needs and scale to new
heights. In this episode, Joe and Louie Prosperi explore the
importance of pricing, how to value your skills and experience
and the role practice, planning and AI have in your
business. 


If you are taking on more and more clients but are starting to
fall behind your promises, then this is the episode to get you
focused on building connections and pricing based on your unique
abilities, not just how many people you can get on board.


During this interview, you'll learn...



The value of having a solid plan & sticking to
it


How to value your skills & experience


The importance of knowing your worth when it comes to
pricing



To find out more about Joe, click here.


Connect with him on LinkedIn.


To buy your tickets for the upcoming Scaling New Heights
conference, check out this link.


Time Stamps


01:30 - Getting to grips with compliance 
04:35 - Making the best of engagement letters 
06:55 - Staying on track 
09:54 - Knowing your price 
18:25 - Thinking long-term 
24:40 - Valuation & profitability 
29:58 - Practice, planning and AI