2 Minute Book Review - Implementing Value Pricing - Ron Baker
In this quick book review, I’m going to give you my insights in 3 areas:
1. How actionable is it?
2. How relevant is it right now?
3. Will it get you results?
In this video, we’re reviewing Implementing Value Pricing by Ron Baker, a thought leader in the area of pricing for professional service firms. The vast majority of professional service firms price by the hour.
Value pricing forces you to sell value, which in turn means you have to create more value! To find out how I rated the book, watch the video!
In this quick book review, I'm going to give you my three insights in three specific areas; how actionable is it, how relevant is it right now, and will it get you results?
So today, we're reviewing “Implementing Value Pricing” by Ron Baker, a thought leader in the area of pricing for service firms. Now, the vast majority of professional service firms price by the hour.
For lawyers, accountants, consultants or anyone that prices and sells based on hours, this book will show you how to implement pricing, based on results and value. In fact, Ron gives you an 8-step model inside the book. He combines theory and real-world experience, plus, there are a whole load of tools and checklists to help you implement.
My favorite thing about this book is the shift in thinking that it enables. Hourly billing focuses almost exclusively on the convenience of the seller and not the customer. It means you are selling the time you spend.
Whereas, with value pricing, you're forced to sell value which in turn means you have to create more value.
So, is it actionable? Actually, I gave this a 6/10 here. It's a really heavy read. It has some great examples, but it requires real-time and focus to extract the actionable content from the book.
Is it relevant? Absolutely. I gave it an 8/10 here. How many people would love to know exactly how much their lawyer is going to cost them before committing.
"Not possible I hear these lawyers saying. Rubbish!"
Will it get results? 10/10 here. If you are able to invest the time and effort to implement value pricing, you will not only see the results and the benefits of that, but you’ll feel better about what you do as a business.
So, what are your thoughts on value pricing? If you found this video useful, please like the video, comment below and have an awesome day everyone.