EP320: Spotlight - Ed Kless - Effective Valuation In The Subscription Model - Part 2

“Far too many professionals want to feel good about
themselves and demonstrate their expertise, but what they do is,
they jump in and talk about how they are going to solve the
problem before they have an understanding as to the value to the
customer.”


-Ed Kless
 
Welcome back to another spotlight session with your host, Louie
Prosperi, the second in our three-part series on subscription
models for bookkeeping and accounting businesses.
 
When trying to sell ourselves to clients, we often believe we
have to offer the best and most rapid solution to their problem,
in order to beat the competition. But is this way of connecting
with clients hurting your bookkeeping business?
 
This episode’s featured guest is Ed Kless, Senior Director of
Sage Accounting Solutions and co-host of The Soul of Enterprise
podcast. Ed speaks to the need to avoid being a solutionist, to
avoid jumping the gun to secure a client before you can fully
explore the true value of what they need. The best way to express
your expertise isn’t to fix problems for free or to undercut
yourself, it is to ask the right questions. To replace advice
with curiosity. Only when you know what a client values can you
put the right price to it.
 
Once you know what clients value, you’ll know where they fit in a
subscription model and know how to structure different
subscription levels, for clients with similar needs.
 
If you are someone that wants to unlock the potential of
subscription modeling but is afraid of giving up too much too
soon, this episode will change the way you think about your
relationship with your clients.
 
During this interview, you'll learn...



The value of asking the right questions to prevent
undercutting yourself


How to integrate value pricing into a subscription
model


The importance of tailoring your pricing to customer
needs



 Click here to find out more about
Ed.
 
Email him directly at ed.kless@sage.com.
 
Connect with Ed on LinkedIn or
Twitter.
 
Click here to listen to The Soul of
Enterprise.
 
Go to this link to pre-order Ron Baker's new
book, Time's Up!

Both Ron and Ed will be speaking at The Successful Bookkeeper
Summit which begins November 9, 2022. Click here to get
your FREE ticket!
 
Time Stamps      


02:33 - The subscription model for accounting firms
04:40 - Integrate values priced pricing with a subscription
model
06:30 - Don’t give away the farm by overselling too quickly
10:40 - Replacing advice with curiosity
17:00 - Pricing the portfolio & the relationships
20:01 - Tailoring your pricing to your customer's needs
23:25 - Adding value & innovation to your offering
29:35 - Asking the right questions to build the right
relationships
32:25 - The difference between reoccurring & recurring
revenue
35:33 - Valuation in the subscription model
38:24 - The Soul of Enterprise