Praise for Implementing Value Pricing: A Radical BusinessModel for Professional Firms
"Ron Baker is the most prolific and best writer when it comes topricing services. This is a must-read for executives and partnersin small to large firms. Ron provides the basics, the advancedideas, the workbooks, the case studies—everything. This is amust-have and a terrific book."
—Reed K. Holden, founder and CEO, Holden Advisors,Corp., Associate Professor, Columbia Universitywww.holdenadvisors.com
"We've known through Ron Baker's earlier books that he's notjust an extraordinary thinker and truly brilliant writer—he'sa mover and a shaker on a mission. This is the End of Time!Brilliant."
—Paul Dunn, Chairman, B1G1 www.b1g1.com
"Implementing Value Pricing is a powerful blend oftheory, strategy, and tactics. Ron Baker's most recent offering isambitious in scope, exploring topics that include economic theory,customer orientation, value identification, service positioning,and pricing strategy. He weaves all of them together seamlessly,and includes numerous examples to illustrate his primary points. Ihave applied the knowledge I've gained from his body of work, andthe benefits to me—and to my customers—have beenimmediate, significant, and ongoing."
—Brent Uren, Principal, Valuation & BusinessModeling, Ernst & Young www.ey.com
"Ron Baker is a revolutionary. He is on a radical crusade toalign the interests of service providers with those of theircustomers by having lawyers, accountants, and consultants chargebased on the value they provide, rather than the effort it takes.Implementing Value Pricing is a manifesto that establishes aclear case for the revolution. It provides detailed guidance thatincludes not only strategies and tactics, but key predictiveindicators for success. It is richly illustrated by the successesof firms that have embraced value-based pricing to make theirservices not only more cost-effective for their customers, but moreprofitable as well. The hallmark of a manifesto is an unyieldingsense of purpose and a call to action. Let the revolutionbegin."
—Robert G. Cross, Chairman and CEO, Revenue Analytics,Inc. Author, Revenue Management: Hard-Core Tactics for MarketDomination www.revenueanalytics.com
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RONALD J. BAKER is the author of Professional's Guide to Value Pricing, Sixth Edition, The Firm of the Future, Pricing on Purpose, Measure What Matters to Customers, and Mind Over Matter. He is founder of VeraSage Institute, the leading think tank dedicated to teaching value pricing to professionals around the world.
RONALD J. BAKER is the author of Professional's Guide to Value Pricing, Sixth Edition, The Firm of the Future, Pricing on Purpose, Measure What Matters to Customers, and Mind Over Matter. He is founder of VeraSage Institute, the leading think tank dedicated to teaching value pricing to professionals around the world.
IMPLEMENTING VALUE PRICING
A Radical Business Model for Professional Firms
An overwhelming majority of pro- fessional firms price their services by the flawed hourly billing method. This method is outdated, suboptimal, and driving the best and brightest out of the professions. While lawyers, accountants, and consultants serve noble callings, the predominant method of pricing for their services is not worthy of them. There is a better way.
Implementing Value Pricing demonstrates a superior model to price for professional services: selling intellectual capital with pricing based on the results and value it creates, not the cost or time it took to formulate.
Written by veteran speaker, writer, and educator Ronald Baker, this book declares the customer as the sole and ultimate arbiter of value. It proposes a business model change from "We sell time" to "We sell intellectual capital," exploring the requirements, hurdles, challenges, and opportunities that enlightened firms transitioning to this new business model will face.
Driven by theory and the actual experiences of many firms, Implementing Value Pricingfeatures seven appendixes available for download on the companion website containing checklists, strategies, sample forms, and case studies, and discusses:
With case studies from firms that have profitably implemented these specific ideas, Implementing Value Pricing is a practical guide for how and why to implement a business model change, create more value, and unlock the tremendous competitive power hidden in the intellectual capital of every professional firm.
An overwhelming majority of pro-fessional firms price their services by the flawed hourly billing method. This method is outdated, suboptimal, and driving the best and brightest out of the professions. While lawyers, accountants, and consultants serve noble callings, the predominant method of pricing for their services is not worthy of them. There is a better way.
Implementing Value Pricing demonstrates a superior model to price for professional services: selling intellectual capital with pricing based on the results and value it creates, not the cost or time it took to formulate.
Written by veteran speaker, writer, and educator Ronald Baker, this book declares the customer as the sole and ultimate arbiter of value. It proposes a business model change from "We sell time" to "We sell intellectual capital," exploring the requirements, hurdles, challenges, and opportunities that enlightened firms transitioning to this new business model will face.
Driven by theory and the actual experiences of many firms, Implementing Value Pricing features seven appendixes available for download on the companion website containing checklists, strategies, sample forms, and case studies, and discusses:
Business model innovation
The latest research on the history of the billable hour and timesheets
The foundations of creating value
An eight-step model to assist firms to implement value pricing
Two frameworks for scoping complex engagements
What, specifically, replaces hourly billing and timesheets
Seven appendixes available for download on the companion website containing checklists, strategies, sample forms, and case studies
With case studies from firms that have profitably implemented these specific ideas, Implementing Value Pricing is a practical guide for how and why to implement a business model change, create more value, and unlock the tremendous competitive power hidden in the intellectual capital of every professional firm.
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