Effective Pricing December - Mastering the Final Pieces: Tips, Tricks & Hidden Gems

Today is the final session for the year. We're going to bring everything together. One of the tips from another user was about his complete flow from start to finish and kind of the order that he does things in. So if you don't. Didn't know. I am sharing tips from other users today as well. I didn't want you to just hear my perspective because it is highly customizable. I reached out to some other people using it and got some tips from them. I think we learn great from each other, so we're going to be sharing that collective wisdom. I encourage everybody to use the chat box as well. We're also going to cover bits and bytes that haven't fit in into other session topics. And those are the ones, most of them that will go pretty quickly because a lot of them can be done in other areas that I have shown you already. But then there's other places where you can manage everything together. I'm just going to show you that you have some other options. There is an advanced feature. I put a call out if anybody had questions, questions about specific things in the software, then I would include those in today's session. So I'm going to be answering any of those questions that came in to me as well by the end of today's session. I'm hoping that with all the little tidbits, some of the advanced calculations that are available, you'll get some better insights of some of the lesser known features that we have. So before we get started, I want to do a quick poll. There's going to be three choices and then I'm going to ask you to drop your answer into the chat. This question is about what is going to be your primary scope question in your main model? Whether that's bookkeeping or doing tax returns, whatever your main model is that you use on a regular basis. What is your initial primary scope question based on? And I'm asking this because this primary scope question, it's going to be the first dollar value that gets your calculation started if you have your software set at a zero base price. This first question is so important because it's what gets the ball rolling. The price calculates based on every question in order to in coaching I've done, I see different questions here, but they typically fall into one of the three choices even though they might be worded differently. Your first choice is transactions or some variation of that. You might say how many purchase, sales or payment transactions do you process in a month? What's the average number of pages for your bank statement I see this one a lot in Canada because most bank statements can hold roughly the same number of transactions, even if it's different banks. So then we can gauge how many transactions fit on a page. You might say do you have a handful of transactions, dozens of transactions, or hundreds of transactions? Choice number one is if your primary scope question is about number of transactions. Second choice that I see a lot is about annual revenue. You might say what's your approximate annual revenue? What does your typical year look like in terms of sales? Would you describe your annual revenue as small, growing or established? If your primary scope question is related to annual revenue, then in the chat box in just a minute you'll type revenue. And finally our third choice is if it's some other type of question. Some people start with a question like is your bookkeeping up to date? If it isn't, you might add a price at this point or you might use it as a tool to sell a different bookkeeping catch up service that you price separately with a different model. So I have seen some people use a question like this. I've also seen some people ask their first question about how many bank or credit card accounts they have. I think that's a great question. I'd be curious if anybody's using it, their reason for having it as their primary question. But these are your three choices. So transactions, revenue or something else. I would like everybody to just quickly post into chat what you're doing and if it is one of the something else ones. If you don't mind sharing with everyone what it is that you ask and maybe the reason why. So I'll give everybody a moment to do that. Okay, so I'm seeing some answers come in that are about industry, tech type. Mary says transactions, Michael says revenue. Ruth is still starting so hasn't figured out her first scope question. Christina's is if their books are up to date. Clive is revenue based as well as how many bank line items per month on average. Michael, for restaurants, you want to know the number of daily deposits from the point of sale system. John said number of bank and credit cards, number of transactions revenue. So you've got four first questions. John. Okay, so I'm seeing a little bit of everything there and that's okay. We all want to customize the software to whatever works best for us. If you have a niche industry and asking about the number of deposits from their point of sale system, is your primary scope question then perfect? I wouldn't say there's necessarily a right or wrong answer here, just that you want to make sure that it is some type of scope question. Obviously, we're going to get into other scope questions as well. There's been several posted here. I ask about transactions, I ask about revenue, I ask about bank accounts. So we may likely have all of those questions as part of our scope area in our models. And then we have our preference questions. But you want to make sure that your primary one, that you've really given some thought to it, and it's the one that's going to get that snowball rolling from the top of the hill. The reason I did this poll is what if you have more than one primary scope question? This is one of the tips that came from our wonderful Teresa Slack that, that everybody knows. And she uses a couple of the questions that we saw in the chat. I just wanted to mention that some of the screenshots that I've snipped into the Word document today is directly from what the person sent me. And other times I've recreated it in the test model that we're going into later. At no point am I sharing actual prices. Anytime you see me sharing price information on the questions, those are ones that I created in our test model because I didn't want to share other people's confidential price information. But these first two questions are in Terry's actual models. Her primary one, the number of transactions in a month. And her secondary one is about the revenue. And the reason I did that poll with the three choices is because these actually are the top two. I'm sure if we did a poll in the Facebook group, these would likely be the top two primary scope questions that most people use in their models. Of course, in the software, the primary one is still going to be that first one that gets that ball rolling. But let me jump over into the software for a minute and I'm going to show you why Terry uses two. Here we have the first two questions that were on the slide I was just showing you. Terri said she uses transactions primarily as her first one and annual sales revenue as her second one. These are not her actual numbers. Terri is a master with E commerce, and that is her niche. She has chosen sales revenue as her secondary scope question because if she has somebody in her niche she wants to work with and sees potential for them to grow, they might have a high volume of transactions, they might have a small number of transactions. They might fall in this 1 to 50 number of transactions. So the price is going to start at $1,000 a year if they answer in that question. But then when she goes to her second question, let's say they are under $50,000 a year in revenue. Still deal, they're quite small. If she gave them a price that was really high, they likely would not be able to afford her services. So she uses this second question in a way where she can decrease the amount that was calculated in the first question. Even if they were in that 50 transactions and under 50,000 a year, their price was going to start at 1,000. Now we're taking off 600. The price is still going to be 400. It's not going to net out to zero. But the way Terry explained it is that when she starts getting into the higher revenue customers, she starts building it into the price for those type of customers. And this way it balances out. She still gets customers that aren't doing as much revenue and is still able to give them a competitive price and demonstrate her value. That was her reason for having two questions. And I liked seeing how she demonstrated that she does the discount. I do ask both questions. I didn't have my answers set up in a way where I would discount a little bit if they were in a smaller revenue. I added a smaller amount in my model. And again, this is a test model. I see this with some people's questions as well about industry. I do discount in here. If it's an industry that doesn't require a lot of work. This is our template from Mark that we've been playing around with. And you can see if it's property, real estate type company or realtor, that we're actually giving them a 20% discount. Whereas if it's a restaurant, we're adding 20% to whatever our base price is. After all the questions have been asked, all the answers are there and the base price is there. This is going to add 20% to whatever the price was of the question before it. So in this case, if they select 100 transactions a month and it's 1500, when we go to question three, whatever our running total is for those first two questions, question three is going to add 20% to that. So that was tip number one. Okay, so that was tip number one. Today's session is a mix of tips, questions and demonstrating things I haven't shown you so far. Some of the demos we're going to fly through pretty quickly because it's things that are really simple that you've seen throughout the year. I just want to show you if you've been using the software for a while, you may not have seen some updates that came through. Let me Go back to the software. There is a handout. Okay, so I'm going to start in theme and design which is right now. Over here we have our client search area on the right hand side, right under number formatting and you'll see we have three choices in here. Right now it's set to drop down list. When I start a pricing meeting with a client, I will have already set them up in the software before my meeting starts. Pre answered some of the questions, especially the scope questions that I've already been able to determine from previous steps in my pricing process. The fact find meeting that I do or the diagnostic review that I do. I'll tell them when we start the meeting. I've pre selected some answers for you but I'll let you know which ones those are and you can change them if you'd like. I pre selected those to allow us to spend more time on some of the things that you may really want or need. Just know that we can change any of those answers if you want to. That's how I word it to them. When I use a model with a client and get to this client name field, if I go in to the dropdown box and I'm sharing my screen, they are going to be able to see a list of all my clients. And so what I've been telling you all year is I start my screen share on this page, not on the previous page. There is another option. If I go back into theme and design and switch this to search window. Anytime you make a change you want to save your changes. Now if I go to use a model you'll see that drop down box is gone and I now have a search box instead. I only had a few clients listed in here, so if I search for demo it's only going to find that one client. It does help hide the confidentiality of any other client names that you have in here. I will caution you if you're using the search option and you're starting your pricing model on this page page that this search box does search by letters, not by full name. If you have a couple of clients that start with the word the, for example the hardware store or the grooming salon and you just type in the, it's going to pull up all of those. So you'll see that if I just type a. If you're using a few letters of the customer's name, using the search option will still show up any clients that have those letters in their name. For me personally, I prefer to have found the client and start on this page before I screen share, you will see in that drop down that you have the option for both. I'll show you what it looks like. It just means that you now have the search box or the client name dropdown. So that's what it means, that you have both. The problem I find with having both is that when you click search it tells you that the dropdown field is a required field. That's why in that theme and design section I always choose just one or the other. So that is the new demo about client search. This one is a question that was brought forward. Actually it's question and a tip. It's a question that I get often when I'm coaching people about how do we tie this all together. And so I am going to use tip from a session that David Colt's did a few years ago. He's another one of the Academy trainers and uses effective pricing a lot. The entire video is on the YouTube channel. It's an hour long session that you can find and he's got some really nice flowcharts and handouts with it. I've summarized it for you, but a lot of times people just want to know how do I bring this all together? Where do I start? This Q and A and tip combined is about the overall effective pricing workflow. David starts his session at the lead generation and pre qualifying stage. I would do this a little differently. If you're planning to use effective pricing with those leads when they start coming in, I'd recommend getting the software set up first so that you're not scrambling to get the software done. To provide a quote, Some of you will have heard me say that although the software is not difficult, it can be time consuming to set up when you're as finicky as I am and wanting to touch and change every single little thing, I would want to have it set up before these leads start coming in. You want to know the direction of who the clients that you're trying to attract to do pricing with, having some type of niche or who your lead gens are going to be from. And David goes into this in more detail in his session Impact the questions you're putting into your model when you're setting it up. Next is Linda Next is your initial steps in the software. So we did talk about this in one of our earlier sessions. This is about doing your pre qualification, your fact find, meeting your diagnostic review, your brochure if you have one, letting the customer know what your pricing process is so that they're not expecting to Be able to just call you and get a quote over the phone, or email you and get a quote back, because that's the thing they always want to know. But we want to have these steps that we can use to build our value, right? That's really what all these steps are doing. It's working our way up to build our value for that client. So when we are having the pricing meeting, they're like, where do I sign? Next in the workflow is the actual effective pricing meeting. If you don't already have your software set up, your first steps are the settings in your profile, especially the company details page, your theme and design page, which is where you're going to put your branding colors, upload your logo, change your time zone, that sort of thing. So you definitely want to do those sections first and then start with one of Mark's templates. Jessica has also shared one of her templates for monthly bookkeeping. You can take a look at those templates and find which one is most closely resembled to the service that you want to use. This is what's going to be fastest for you to get set up. Then you can just go in and tweak. If you're not in the UK and you're using one of Mark's models, and definitely make sure you're tweaking some of the language because he uses some UK terms. So just customize it, make it yours. David had a tip in his session where he actually records himself explaining his packages and then he has that recording saved on his YouTube channel. He can easily send the link to somebody in the effective pricing meeting because your packages are static. Once you set up your packages, they don't change. You could send somebody a link before the meeting saying, this is the different packages and you can record, spend some time explaining what each thing is. And then in the actual meeting, you can zone in on the top three or four or five things that were pain points for them or that they got excited about when they were answering your questions. And in the effective pricing meeting, you can really spend the time focusing in on those ones that are going to really hit home with them. So at this time, you're ready to do your first quote. Once you've gone through the questions in the pricing meeting, you've done the first quote. You don't have to be using any of the features at the software. You can at this point do your engagement letter in whatever software you're using, whether manually or not. If you do want to do it in the software, this is when you get into the proposal engagement letters to do this, go a step further in the training. Look at some of those other sessions we did earlier in the year. Make sure you're familiar with using keywords and having a great proposal design. Remember, you can do that through canva. I am by no means a design expert and anybody that was here in those sessions would have seen firsthand that I am not a design expert. And I like things to be meticulous and in their place, if you're anything like me. Emily does offer a design process for a fee, but it's quite reasonable. You just give her some pictures, images and the text that you want to use. She will go in and create a template for you. Then you just have to do a couple minor edits if you want to. Otherwise, it's all ready to go. David mentioned the video he's recorded in the previous step. He includes a hyperlink to that in his proposal. Sure. That you have an all services bundle table at the end of your package so that they can see all the different packages you offer, making sure at this point that they have your brochure. If you haven't already gone through it in a previous step, you could do a recording of yourself, share your brochure on screen and do a recording of yourself going through the brochure. The thing with the recordings is, especially when you're going through the brochure is I do that after I've done the fact find meeting and after I've found out what the pain points are. When I'm going through the brochure, I don't go through it page by page. I'll quickly mention every page, but I will skip to the points specific to them that I have found out in previous sessions. My fact find meeting with them were pain points, and then I can really focus on those for that particular client and demonstrate the value of how hiring my services will help them. The last part in David's workflow was just rinse and repeat. If it's an existing client, we're obviously going to do renewals for them every year. We should be changing prices for them. When it's a new client I review, it's in my engagement letter. I review quarterly for the first year and then annually after that. And so then it's just renewals and repricing. Some of the things that I took away from David's session was about those recordings of talking about your packages and stuff, because that is static in the software. Now we're going to go back to the software for another quick Demo. On this main screen here, there's things that I haven't shown you throughout the year. I want to make sure by the end of today that I have shown you all of them. And so the next one we're going to talk about is this list manager. Let me start by showing you what this is for. First I'm just going to go into model management and drop into one of these questions. Anytime you have your question, type as drop down. In the next field you're going to have to choose which dropdown you want to use. This is your list. If it was number of transactions, the information that populates is a list. Throughout the year. I've shown you how you can modify it right here. You can change the name, the amounts, you can move things around, no problem. Throughout the year I showed you how if you're adding a new question, you can create a brand new list. What I want to show you today about this list manager, you can see there are a lot of lists. Some of them are in different pricing models. You might have the same question in different pricing models. If I go into search and let's say I'm going to search for cleanup, you can see I have two different lists that have the word clean in the name. Let's say this first one is a cleanup sales invoices question. And this one is cleanup accounting system percentage. I'm going to use industry sector. Here we can see this is in three models. Let's say you have added a new industry that you're working with or maybe you've removed one that you're working with. You used to work with lawyers and you don't want to anymore. Rather than having to go into every single model and then into the question and modifying it through there, it's much faster to just come into this list manager type in industry and then you can see all of your models that have a question that uses that drop down list and you can go in and edit it here. It's a really simple thing that I wanted to show you, but it is faster than having to remember every model you have that has a specific list in it. You still have to edit each model that you have the question in individually, but it's easier to do it from one page rather than having to go in to several. So that was one little quick demo. The other one that I wanted to show you here is the menu manager. This is where you can move around the order and change things of your menu. That's over here on the left hand side. So you can See, I have my models here. If you have a lot of models over here on the left, you might want the ones you use most often at the top so I can move this cleanup work down to the bottom. And maybe my niche client is bike servicing so I want to move that to the top. I'm going to hit save and continue. I'm also going to delete effective pricing. Watch what happens to my menu when I hit save and continue. You can see now I only have two models here instead of three and the order of them has changed. That's it for that quick demo. Now we're going to move on to another tip. I'm sure some people ask this as their primary question about the number of bank accounts or credit cards that somebody has. Even if it's not your primary question, you have it somewhere in your model. I do want to ask you in chat if you're using this question. Which question type and calculation method are you using to price this question? I know I've talked about this earlier in the year about how this is one of the examples where you might use the number of units and unit price calculation type. I keep my model simple and price per account because in my niche they don't often change the number of bank accounts they have. So I don't see a lot of scope creeping up here. This is another tip from Teresa. She found with her clients that they were changing the number of bank accounts frequently. She used to price per account but found she was having to reprice clients frequently every time they added or closed an account. So she changed her model to a range of accounts and again I've removed her price rather than repricing them every time. She sets the question type as a dropdown and she does still do the add calculation type. That's the same as me. But what is different for her is rather than having a drop down list like I do of 1, 2, 3, 4, she's put them in as a range. If somebody has one bank account, she does not need to reprice them until they have four bank accounts. They can open another two bank accounts and their price will not change. The minute they open a fourth bank account, that's when she will reprice them. She sets her price for each range based on what she wants to be paid for as if they had three bank accounts and that way if they only have one or two, she's got her bases covered. If they have three, she's still pricing it based on what it would take to reconcile those three bank or credit card accounts. She did make a point that she wanted me to mention. If you're dealing with E Commerce or E Commerce and multi currency combined, she wanted me to mention that she does not include PayPal in this question. In the how many bank accounts and credit card accounts do you have? She has a separate set of questions related to PayPal specifically due to increased complexity. She said it's not a problem if it's all Canadian dollars or home currency dollars, but as soon as there starts being multi currency through PayPal, she said the complexity does jack up a lot. So she's got a completely separate set of questions just for PayPal. So I see Michael says he's using a range for. So you're doing it the same way Terry does. Arrange for a number of accounts and add additional fee for PayPal type accounts. That sounds pretty much okay. Another demo, and this one is going to have a handout as well. It is 13 pages. Oh, and there's the handout for the client search feature that I showed you earlier. It's five pages and has some screenshots. This one is a lot longer and it's one of the advanced features that I've been waiting all year. This is the one that I've kind of said at the beginning of today's session a little bit of a white lie telling you about how there was only 11 steps that the software uses to calculate pricing and how this could potentially increase it to 12 steps. So let's go into the software. So before I show you this, a little caution from me, there's also a caution in the handout that you're going to get and you're going to see when I demo it in the software in just a moment that there's a caution here as well. So you've gotten a triple caution about this feature. It is a fantastic tool, but it is at a very advanced level. You need to have a really high level understanding of how the software is calculating prices before you attempt to use this. And you also need to have your packages very clearly defined. So if you're still working on your packages and maybe you don't want to start using this feature until you have your packages done. This was actually a question that came in, I think, I think the beginning of the year, and if I'm not mistaken, I had it written down in my notes. I think it was Lynn that asked this question. So, Lynn, this is specifically for you. I made a note all year to make sure that I showed this in the December session. This feature is going to allow you to impact how a price calculates for each individual question in your model and the impact has on your package prices. If you want a question to add value to just your premium package but have no effect on your other packages, this is going to allow you to do that. So I'm going to go back in to the model we've been using. I'm not going to use the exact numbers that are in the handout. You'll get. Let me just flip through that handout quickly. You're going to get all the instructions. You're going to get these handy little charts. There's two of them. For individual package pricing, whether or not you can use this feature that doesn't appear on every type of question, but I'm going to be showing you that. I just wanted to let you know if you're furiously trying to take notes as I'm talking, it is going to be in the handout that you get up until this point throughout the course. Let me go into. I want to go into a yes or no question. I'll first show you this dropdown type question. You can see at the bottom of your screen we have our Save button. If I go into a question that has a yes or no type answer down at the bottom. We've looked at this before about how you have to input your yes value if they answer yes, and you have to input your no value if they answer no. And then you have to choose what your default value is. But then you have these additional two options. Enable Individual Package Pricing or Enable Additions to selected packages. I'm going to demo both of them. The Enable Individual Package pricing will show up if your question type is yes or no or if it's value. When I choose value, one of my options disappears. I can no longer apply that to the other package pricing. I'm going to tell you the difference. Why Enable Individual Package pricing? This one you have to be very careful with, and that's why this one has a caution and the other one doesn't. Selecting this option enables you to override these settings above, so they only apply to the packages of your choice. For example, if you only want this price adjustment to apply to the Premium package, this is an advanced setting requiring a good understanding of the math engine. These settings will impact the base price, any relative price adjustments you've made to the packages chosen. If you want the price adjustments to be added to the package after any relative price adjustments, use the Enable additions to selected packages because it's going to override these. I would just put zeros in. Anyway, when I have a yes or no question, I typically put the default answer as no. I talked about that in a previous session about how you can use that to make conditional logic jumps in the software. It requires you to have your default value to know all the questions and then you can scan skip an entire section. We know in this that there's only three packages. So I'm going to put zeros in for light and super because those aren't part of my packages. I only want this adjustment to happen to my premium package. So I'm going to put zeros in for yes and no for full and essential for my premium package. There's no change if they say no. But if they say yes, I want it to add a thousand dollars to just the premium package. Okay, so now if I go to my review page and I hit calculate, you can see the price is building and I get to that question. Oops. What happened here? I said that I wanted $1,000 added. If they've chosen my premium package, they've said yes, we want the premium package. So why didn't it add the thousand dollars to my price calculations here? Remember, the questions are not dynamic. Even though you've asked them a question here of what package do you want to choose? Until you actually get to the packages page and click on a package, this is just them telling you what package they're leaning towards impacting the price here in our I'm going to quickly show you our pricing parameters. Our multiplier for the premium package is 1.5, so it's not changing the price by 1.5 at this point. Where you are going to see it is down at the bottom. I'm going to write some numbers down as we're going here because I won't remember. You can see our base price is 49.53. Based on how they answered the questions. Our premium package is 74.30. What that's doing is taking my base price, adding on the thousand dollars. So now my new base price for premium is 59.53. And then it's multiplying that by 1.5. What did I do wrong? 49. Not sure what I'm doing wrong with my questions here. It was working yesterday. I should be getting 7430 in my calculations show in this section at the bottom, not up here where the question is now. Oh, I know. If I change this answer to yes and now come back down here, hit recalculate. I bet you my math will work. Now, what was My calculator saying so base price 49.53 plus a thousand times 1.5. There we go. Because we also have some rounding. Now I want to show you the other option. If I go back into that question and I choose this other option, enable additions to selected packages and I'm going to do the same thing. I'm going to say that I want it to add $1,000 to my premium package and I'm going to go back to my review screen. What this one does, did I choose the second option? So what this second option does is it adds the thousand dollars after everything else has already been calculated. Those other 11 steps that we talked about. It does all of those first and then it adds on this thousand dollars after those calculations. The first option adds it in the middle of all those calculations. So you can see my base price was 4,953. It goes through the multiplier of 4,953 times 1.15. If I now with this option do 4,953 times 1.5, it's going to do all of the 11 steps in my pricing parameters first, then add on the thousand dollars. Now I'm getting 84.30. So you can see there's about a $500 difference in the price here depending on which method you use. One of the questions that I get about this from people is some use case scenarios of when to use one versus the other. My answer to that is going to be that it's completely pretty preference related. We've talked a lot about how the software is customizable and it just depends on how you want your pricing to work. I have four or five more tips and demos that I want to get through in 10 minutes, but I think this was going to be the biggest one for today. Okay, I'm not seeing any questions come in, so I'm going to keep going. Another demo, so let me jump back over to the software, but the labels section. The rest of these demos are going to be quick. I just want to make sure that I show you everything. So this is on the labels menu and you can see that there are a lot of labels in here. You can search by a typical label. So basically what these are are buttons that we find throughout the software. I'm just going to quickly do a search for the question label. You can see somewhere in the software there's a button that says add question. If I want to change the name of that like the, the BR1 for behavior rewards. If you Want to call that something different and rename the label of the button. You can. You can see these boxes are all grayed out because it's connected to the behind the scenes part of the software, the programming. The only thing we can change is the display text. If I change that to the word test and then go back into one of my models, you can see that the add a question box that used to be here is now called test. Obviously that's not what I'm going to rename it, but that is just a quick demo of the labels button. If there's anything that you want to call something else. The labels section is where you can redo that back to another tip. This one is also from Teresa. And actually I. I do want to spend a few minutes on this one because I really liked it. This has to do with using the enhancements section of the software or not using the enhancements of the software, or maybe how are you using the enhancements area of the software? So if anybody feels like dropping into chat some of your favorite enhancement questions, or if you're using it or not, would love to see the chat get flowing with that. While I'm talking, this is how Terri uses the software. In the software. I can explain it better. What Terry did was in her questions section, she added a new section and called it popular add ons. These are things that I was typically using in my enhancements section. The enhancements that would appear from my middle package if they chose, that would include a few options that were in the premium package. Terry does that in her questions section rather than on the enhancements page. The reason I like this is, you know, she's got these notes in here about it's included in the premium package. So people are starting to get a hand before you even show them the packages. They're starting to get an idea when you're going through these questions with them of what package they're going to want to choose. And she does. She did say that she allows a few popular add ons. She doesn't allow them to necessarily add all of them because if that's the case, they should just be choosing the premium package anyway. And she would word it that way to them. I liked having this as a popular add ons section because when it's in the questions section, it's less of an upsell feeling rather than giving them a price first and then upselling them at the enhancements section afterwards. So I really liked putting it here and I'm going to start doing this in my models she does, however, still use the enhancements section. But what she has instead, instead in here, she does still have some popular enhancements like if they want their books done by the 10th, 15th or 20th of the month. But then she's also got a separate section called Software. This was a Q A about software charges. And this ties in to what Teresa does as well. It's a big question we get about what do you do when a vendor that's out of our control like Intuit or Dext, increases their prices throughout the year? I've told you that I have a base price built in that covers my software charges. I also have a very tight tech stack. There's only two programs that are mandatory for my clients to use, QBO and Dexterity. My software charges are always covered, including some leeway from the get go. My price starts calculating from 500. This is a screenshot from Terry's screen of the section she added for software in her enhancements section. So the only software she includes for her clients is a receipt capture software called Book AI. If they want to use dax, then it's an upgrade. Lots of times business owners come to us and they're using Dext already. You'll also see in her examples that some of her E Commerce clients or inventory clients, it's mandatory to use Dext Commerce in order for her to complete her job. She has that in here that they can either purchase it at their price or she can price it for them at the wholesale price if they want it included. She is using this in her enhancement section where she is charging extra for the software or giving them the option to pay for it themselves. So I thought that was another great idea, another quick demo. And this is going to be the last demo. The last section after this is about some really successful questions and tips that were also provided. And that's the last thing that we're going to talk about. So let me fly through this demo pretty quickly. So the last thing on this screen that I haven't shown you throughout the year is this standard paragraphs section at the bottom. By default, when you first go in here, there will not be any in here, so you'll have to add one. You just click the add button, you give it a name. You have the option to use any keywords, but you would come down here and start inputting some text. I'm going to go to the one that I already started in preparing today's session. You can see I've got here. This is a test paragraph for client name. If I want to say this quote is provided on and my cursor is flashing here. I can put my keyword quote date and then click on add and that will add it wherever my cursor was. This is very much like a word processor. We can change the font, the color, the size, we can highlight things. Now I'm going to pull up one of the proposal templates that we were playing around with throughout the year. I'm just going to add another page here. So you wouldn't have seen this throughout the year when I was showing you proposals. Because if you don't have any standard paragraphs programmed into that section already, it would not appear at the bottom of this menu. But now that we have a standard paragraph in there, this section does appear. I can just click and drag that into my section and it will put in whatever test paragraph that I've had. We're going to have a proposal template that we're going to use. Where this would be effective is if you have some wording that you want to use all the time. Receipts have to be submitted by blank date of the month. Jessica has some wording in her service agreement about a catch up fee if they fall behind because she blocks off time every month to do the work for that client. If they haven't submitted their documents, she moves on to the next person. When they do get caught up, she has to spend time doing that catch up. So I, I think she words it in her service agreement. So that might be some standard text that you want to put into all of your proposals. And if you have different templates, you can set up this standard paragraph so that you can easily put it into whatever proposal template you're using. So that's standard paragraphs. Those are all the demos. Like I said, we're going to go a couple minutes over. This is the last thing. Some successful questions and tip tips. One of the questions is from doing your own entries or any type of variation of this question. So you might be asking them, do you want to do any of your own entries? It could be them, it could be a member of their team, it might be their spouse. Terri and I both use this question, although slightly differently. It is a question with a price attached because it obviously adds more complexity what business owner is actually doing their own entries properly. I'm not going to produce financial statements that have prepared by beyond bookkeeping on them unless I review the work they've done. So I'm not going to send any remittances to CRA unless I've reviewed their work. I do charge extra if they are planning to be doing any of their own entries. I use it in a way though. It's actually part of my sales process. My ideal client does not do any of their own entries because I like to do them all myself. So Terry's pricing was a little different than how I do that. Next was non verbal communication. I've talked about this before. I'm excited by a picture I'm about to show you. I've told you guys about how I have really phenomenal success with everybody that I've used effective pricing for always choosing my premium package. And knock on wood, I am constantly pushing the limits, expanding my minimum price. My lowest price client right now is fifteen hundred dollars a month and it takes maximum ten hours a month to do their work. I don't think that I'm underpricing at all. I've said this to people and they're like, oh, if people are always choosing your premium package, it's because your prices are too low. I disagree. I think it's because I do a great job building my value. All throughout my process, I am starting to steer people towards my premium package even though I haven't shown them my packages yet. I'm always dropping little words in and then when I do get to the part where I am describing my packages, everything about my non verbal communication changes. When I'm talking about my essential package, my voice is just normal, my face isn't animated. I'm not using hand gestures, I'm just talking. When I talk about my middle package, my tone of voice speeds up a little bit. I might smile a little more. When I'm talking about my premium package, I get excited. My voice starts having more inflections in it. I start moving my body around. I've always said every time I've taught this, maybe not ineffective pricing session, but definitely in some other training sessions that I did not have seen scientific proof that this is what works. Guys, you will never guess what I saw on the news this morning. So CP24 is a local news channel. Here is a guest speaker that was talking about the results that TEDx speakers had done. They did some type of survey of which TEDx speakers were most often viewed and were most successful with good feedback. The ones that had it were the ones that were using hand gestures when they're. Because the survey results said those people appear more persuasive. So I have. It was on the news. Anybody can see this on the news. So I wanted to show that to you. This is a really Successful full question for anybody attending today that's not in Canada. CRA is Canada Revenue Agency. It's our main governing body for all things financial. They send out mail in little brown envelopes that cause a business owner's heartbeat to escalate. If you ignore those envelopes, the phone calls start coming. So having this question in your model about offering CRA support is a hugely successful question. This would be a great one for that individual package pricing question because I only offer this in my premium package and a little bit in my middle package. If they get that envelope from cra, no problem, send it to me. I will look after it for you. If your phone is ringing, get the name, number and message of the person calling you and let me know. I'll look after it for you in an effective pricing meeting. When I'm asking this question and explaining what it's for, you can visibly see their shoulders sink down. This expression of relief that comes on how many people will I be working with or reporting to? Everybody knows if you're answering to just a sole proprietor, it's a lot easier than if you're answering to a board of directors. So that's a really successful question. To be able to add a significant price increase to your margins. If you're dealing with multiple people, you need to answer to. This is one that Teresa has as part of her popular add ons section. Do they want you to provide a year end package or not? If they say no, what they're going to get is their regular monthly income statement balance sheet. That's it. If they select yes, you're going to have a meeting with the accountant, provide an asset register. You're going to provide the bank statements, bank reconciliations, trial balance. You're going to work directly with the accountant to resolve any issues. Again, you're just taking that all off of them the same way that you would be with the CRA support. And Teresa actually said this is her number one selling add on that she couldn't remember a single person that did not choose so super valuable. And the last one HR benefit management needs. Before you think about asking a question like this, check if your errors and emissions liability insurance would cover you. But we all deal with payroll companies. If we're offering payroll, a lot of them have associated HR services available as well. We can through that payroll company extend this service to our customers. We're not HR certified people, but there's no reason why we can't offer that as a service the same way that we offer payroll. Just that were doing it through a third party. I didn't think that I had mentioned it throughout the year, but it's one that I have. Thank you, everybody, for coming. I would love for you to let me know what your biggest takeaway from today was. Stay safe out there, and I will see you in January.