EP316: Spotlight - Ron Baker - Embracing The Power Of The Subscription Economy - Part 1

“If we want premium pricing, we have to go to the market
with an uncommon offering."


-Ron Baker
Welcome to a new episode of our Spotlight series,
now hosted by a great friend of The Successful Bookkeeper and
world-class business strategist, Louie Prosperi.

This is part 1 of a 3-part Spotlight series about subscription
models for accounting and bookkeeping firms.


You see, many bookkeepers struggle with the idea of changing from
time-based pricing to value-based pricing. Let alone changing it
up even more by adopting a subscription pricing model.

Ron Baker, author, and radio talk show host is this episode’s
featured guest. He makes a powerful argument for the future of
bookkeeping businesses that can offer pricing based on
relationships, access, convenience, and peace of mind, rather
than just stacking services on services, and calling that
value.

Ron speaks to the need to offer specific and uncommon offerings
in order to command uncommon prices. To change up the way your
clients relate to you, so that you can offer them the
transformation they are seeking, not just services that keep them
ticking over.

It can feel scary to make changes to your business model, there
is great comfort in our habits. But when you put the value of
your relationship at the heart of your business model, you’ll
stop limiting your value to only monetizing transactions and
time. You only have to think about your favorite services or
those with the greatest valuations to realize they are all
subscription based. What is stopping you from achieving the same
success?

It is time to stop asking how much we want our customers to pay
us, and start asking, what do we want our customers to pay us
for?

During this interview, you'll learn...



The value of the subscription economy


How to price relationships not services


The importance of your niche & providing uncommon
offerings



Click here to find out more about Ron.
 
Connect with him on LinkedIn,
Twitter or Facebook.


Go to this link to pre-order his new book,
Time's Up!
 
Connect with our new Spotlight host, Louie on
LinkedIn.


Don’t miss a chance to get your free ticket to The Successful
Bookkeeper Summit on November 9, 2022. Click here for
more details!


Time Stamps
      
01:32 - Introducing our new Spotlight host
02:08 - Louie introduces this episode’s guest
04:00 - The subscription economy
10:19 - What makes this model better?
14:02 - Reinventing customer experience
18:25 - Consistently adding value to your offering
20:32 - Structuring the subscription model
24:34 - Pricing personalized transformation
31:24 - Overcoming limiting mindsets
36:34 - Measuring your success against new KPIs
41:00 - The value of predictability
45:30 - Ron’s new book, Time's Up!