Pricing based on efforts is all wrong.
By W. Michael Hsu
How often do you hear from clients that you’re too expensive or xxx firm can do it cheaper? The lesson in having that conversation is that it can’t be ‘Can you afford it’ it’s: “Can’t afford not to.’
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The concept of “you can’t afford not to” is a popular one in the world of entrepreneurship and one that CPAs, especially those pricing CAS services, need to learn. It is the idea that sometimes, even if something seems costly, you cannot afford not to do it because the cost of doing nothing or doing it yourself is even greater.
This idea is often applied to outsourcing or hiring, where entrepreneurs may feel they cannot afford to hire someone else or outsource a task. However, the truth is that they cannot afford not to.
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