From the Inside Flap
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 This method is outdated, suboptimal, and driving the best and brightest out of the professions.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.
About the Author
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.