Leadership / Management

Value-pricing guru Ron Baker comes to Maryland

Ron Baker signs books for BLI.
Originally uploaded by marylandcpa.

The top tip for increasing customer satisfaction, retention of key employees and increased profitability? Implement value pricing!

I think Ron Baker's theory is dead-on for any professional services firm and especially relevant for CPA firms today. His theory starts with the customer and works back, instead of the age-old practice of cost-plus pricing. CPAs who are trained in cost analysis have to change their whole view from inside-out (Product > Cost > Price > Value > Customer)  to outside-in (Customer > Value > Price > Cost > Product).

I love Ron's approach and his passion for changing our profession. His advice is much-needed therapy for today's CPA firms that are seriously over-capacity.

His latest book, "Measure What Matters," is a must read for the new year.