There is a strong bias in the accounting and consulting profession to a status quo – we will continue to do things pretty much as we do today. We understand that technology is changing the world and that there is a huge disruption in various industries and professions – except ours.

In Richard and Daniel Susskind's book, The Future of the Professions: How Technology Will Transform the Work of Human Experts, it states that, “There are two possible futures for the professions. The first is reassuringly familiar. It is a more efficient version of what we already have today ... The second future is very different proposition ... we will find new and better ways to share expertise in society, and our professions will steadily be dismantled.”  

While your customers may think your business process review is just something you’re selling, it’s the best first step in your consulting relationship.

Of course, if you don’t share everything you learn and offer advice for improvement, you were just selling it. If, however, you use the business process review as a place to start learning about your customer’s business, and you take the customer through the learning process with you, it is not unfair to charge them a price for the knowledge and results they gain.

You’ve all heard that hiring a hiring a business consultant is typically quite expensive. Many of us will charge our customers/clients time and materials – an hourly rate anywhere from $125 to $250 per hour plus travel, plus lodging plus, plus, plus.

Are you looking to bill higher fees and have fewer competitors? It really comes down to two different ways to compete in this ever-changing world we live in. We can compete on price or we can differentiate ourselves, become true experts, and create a clear division between ourselves and our competitors. Walmart has chosen its path. They focus consistently on price. Is that where you and your firm want to be? What makes you or your firm remarkable? What can you or your firm consistently deliver?

As Bill Bernbach said, “If you stand for something you will always find some people for you and against you. If you stand for nothing you will find nobody for you and nobody against you.” When we are looking at positioning our professional practice, WE MUST STAND FOR SOMETHING. I don’t think we want to be a professional firm that just exists. When you think about “Apple computers” you think about a company that believes in pushing technology and is not interested in status quo (at least, when Steve Jobs was alive).

In his book Positioning for Professionals, Tim Williams discusses how professional firms are more profitable if they focus on specific skills. They become true experts in their chosen field and are able to reduce the competition, increase pricing, and simply make more money.

As professionals, we struggle with finding the right balance for pricing. How do we capture the value we create for our customers, manage our risks, and offer a customized solution that fits our customers’ budget needs and their purchasing approach?

I have read that “In an organization, the language that people use when referring to customers, or when describing service quality programs, signals very clearly how they view their customer and how they see themselves as relating to them.”