I believe that Knowledge Worker based businesses (CPAs, lawyers, technology consultants, marketing consultants, etc.) should Value Price their services, and provide customers with a Fixed Price Agreement up front.
Many others believe the same way. Some of them started The VeraSage Institute. The VeraSage Institute is the most revolutionary think tank for professional service firms. They challenge the professions to break free of practice methods that hurt the profession, undermine their purposes, and fail their customers.
Among their quests: Burying the Billable Hour.
This means eliminating hourly billing and the timesheets that go with it. Professional service firms are encouraged to run their firms by “pricing on purpose” and making customer service and customer value number one priorities in their practice. Such firms need to re-align their corporate culture, and also recognize that their team of professionals are knowledge workers, not machines.
In order to assist professional service firms with these goals, they have developed the VeraSage web site. For more information, visit: www.verasage.com
As a result of their quest, the founders and followers of VeraSage, spend much of their time dealing with the technical issues of “how to” make the necessary changes. Ron Baker, CPA (the original value pricing guru), recently took time to reflect on this, and remind professionals, the real reason for value pricing – to better serve our customers. To read Ron’s blog, visit: http://www.verasage.com/index.php/community/comments/its_the_quality_of_life_stupid/
More importantly, read Chris Marston’s blog he links to at the end of his blog. Chris is one of the founders of the Exemplar law firm, a law firm in Boston dedicated to the principles of Value Pricing. I could not have said it better myself.
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