Preparing for a Value Pricing Opportunity
Even if the first one gets away.
By Ed Mendlowitz, CPA, ABV, PFS
Author of Implementing Fee Increases;
The 30:30 Training Method; and Tax Season Opportunity Guide.
Question: I just heard from a client we hadn’t heard from in seven or eight years and he says he has an “emergency.”
Here’s the story: He had started a business eight years ago and he used us for a couple of years until some big money was raised and they switched to a Big Four firm. He also stopped using us for his personal return switching to the Big Four firm. Then, just last week, he called us to ask for assistance in evaluating a multimillion-dollar termination package. He needed to meet with me right away since he did not want the offer to slip away. He then asked what the rates would be and could he have a discount since he was once a good client (he was – seven and eight years ago!). The asking for a discount left a bad taste in my mouth.
Ed, how should I handle it? I feel like I could bill $2,000 to $3,000 and I want to do the work. Is that the right price?
