Effective Pricing Live: Crafting Compelling Quotes for Clients

All right, so the first section we're going to be looking at is kind of the general overview. When you first log in to effective pricing, you'll likely be landing on this page. Depending on what you have set up. You may see other a list of several pricing models here. You may have some notifications showing up. I'm just going to temporarily close those for a moment. We are going to come back to those a little bit later. I intentionally put one there that we're going to talk about later that I want to show you and I can always access them again through here and it tells me how many notifications I have. But this is our home screen.

When if you have just been setting up your effective pricing, your home screen may look a little different. I did show it throughout some of the earlier sessions where when you're first setting up effective pricing, there's an onboarding process that you go through and you have a checklist of of tasks to complete. Once you've completed each of those tasks, you will then see the same home page that I'm on now. So because we have completed all of those tasks.

You will get to this page. You can also complete each of those in a test model. For practice, you don't necessarily need to complete them with a live client. If you want to be able to get to to the homepage that I'm on now. So there's several ways that we can do things in the software. We've talked about this before, about how you can make an item go live or put it into draft mode. There's also several ways that you can access your models to use for a quote. So first of all, like I said, you can see them here as a list on your.

Homepage. You can also click this little hamburger button up in the top left hand menu.

That will toggle. You have your icons here for your menus, but if you for your models. But if you don't remember what any of them are, clicking that hamburger button will expand the menu. So you can see. So I could either click Use model here or I could click on the icon or I can expand the left hand menu and click on it here. The other option of course, is to go into model management.

And if I did have this is where I can toggle other models to go live.

And if I go back to my homepage, you can now see that those models have shown up in my pricing list.

That I could access them from here.

I'm just going to topple those back off. For now.

We'Re just going to work with one.

Okay, so once you select a model that you plan to use, whether it's a payroll model or a cleanup model, or a tax filing model, or bookkeeping model, whatever model it is that you selected that you want to use, it's going to bring you to this screen. You'll start to see that our menu, our left hand menu is over here that we've looked at before. I typically do not start my meeting on this screen with a client. I'm going to go through the screen with you and then I'll explain why. But what I what you can do if you are repricing an existing client, you can go into this dropdown and select from your list of existing clients. You can also use this search box and you can type in.

Even just a few letters of who you're looking for and then click on search. And any clients you have that have those letters would appear. Or if this is a brand new client, you can click on new client. There is a lot of information that you can put in here. The only field that is mandatory is I'm going to call this client demo with today's date. It's the 24th. The only field that is mandatory is the client's name and I will save that. You then have a dropdown of where you can select whether this is a prospect or an existing client.

Again, you might be doing a repricing meeting or something. If it's an existing client, for demo purposes, we're going to pretend that it's somebody brand new. And then the date of the quote. I typically don't change this unless I've set this up. Maybe I'm meeting with the client tomorrow and I'm setting this up the day before. Then I would change this to tomorrow's date. But usually I do this part about an hour or so before I meet with the client and then I click save and continue.

So the reason I don't do that part with the client is because if I'm going into with with on the screen share with a client, I do all of my meetings virtually. The reason I don't share this screen with the client is for confidentiality reasons. If I'm going into this dropdown to search or using the search button, I don't want them to see a list of other names of my clients. Also because I would have found out some information from their diagnostic review ahead of time. I always get the quote started before I meet with the clients and so I would have already added them to my dropdown. So doing the new client option in front of them isn't really an option for me and how I use effective pricing because like I said, I will have found out a lot of information in their diagnostic review already and I'm going to show you what I mean by that on the next screen. But that is why I do not start on this screen. So when I'm ready to start screen sharing with my client, we've started our meeting, we've set our, our niceties and our hellos and everything and I start my screen share, I start on this screen.

So.

When we're doing our first quote, you're going to start at the questions section. So that is over here. These are all the sections that you built behind the scenes. We covered that in one of our earlier sessions in my model. One of my models that I will show you a bit later.

Actually, let me show you right now while it's here.

This is one of my models and you can see how many sections I have here compared to this demo version that we're using.

So originally I typically keep this first about your business question section to be things that while it may change and and it def. The answers are definitely going to impact the price. They aren't things that will typically change. Based on my value type questions. These are going to be the things that I would have found out during my diagnostic review. So I will have asked them. I would have been able to tell is your bookkeeping up to date, yes or no? You'll see. There's a little tool tip here. If your bookkeeping is not up to date, we may need to do some cleanup work. It's a separate service and we would price for that separately. I'm going to say yes, they're up to date. I've done my diagnostic review ahead of time. I know that their books are up to date. Then there's a dropdown question here of how many sales invoices per month you raise. I'm going to put them in the 121 to 230 range. I'm just going to quickly go through and select a few answers here.

Let's see, they have two bank accounts.

That one at zero.

Two credit cards, oops. And no PayPal accounts.

So when I'm doing a quote with a client, I will have already done all this. When I said I like to set up my client ahead of time and I like to pre populate some of the answers, this is what I would have done. And when I'm meeting with the client, I will tell them you know I was able to determine some of the information when I did the review of your books. So I've taken the liberty of answering some of these questions on your behalf. You can absolutely change any of the answers if you'd like. I will quickly review with you the input that I've done. But I'd like to be able to focus more on solving some of those pain points that you have and some other questions that we have on the next screen that will help you address some of those concerns that you have. Will that be okay with you? And I ask that as a yes or no type question because that's part of the price psychology. I want them to say yes, that's okay with me. And I've never had anybody say that. No, it wasn't. So then what I do is I just go through and I review. Okay, you're in the professional service business. I noticed that you do, you know about 175 sales invoices a month. I did see that your bookkeeping is up to date. That's great. Congratulations. You only have one division and I did see that you're registered for sales tax. So I did go ahead and check off. Yes. For that. I have a tool tip here that just explains what a sales ledger is. And we know that you're using that because you're not a cash based business. So I said yes, there's. Well, I did see that you have two bank accounts that are in your books. Would is there any other ones that you're maybe planning to open in the future that you think might be coming down the road? If so, we should probably add those in.

Or any additional credit cards that you think might be added. And this includes business cards as well. So you'll see. I'm just going to scroll down, switch back to my model for a moment here again.

You'll see when I ask about credit cards, I have a tool tip that says include any vendor specific such as Staples or Home Depot. Those for people that aren't in Canada. Those are some businesses that we have here like an office supplies or a home renovation type company, just stores that have specific credit cards for them. So I will go through that with them and I'll say, you know, do all of these answers look about right for you?

You'll notice as well, we've talked before about how you can toggle back and forth between this left hand menu. You'll notice it's I'm clicking here on this fixed price. You'll notice it does not let me toggle to fixed price. It will not let you go there until you have finished answering all of the questions and hit save and continue on the last question page. It now will take me to the fixed price page and if I do toggle back, I can now toggle back to fixed price again. So if you're trying to go straight to fixed price, you do have to go to your last page, your last section of questions, and hit save and continue. Also, remember, as you are answering these questions, if there is something that changes, make sure you're using that Save and continue button at the bottom of each screen. Even though I've gone through and I've answered a lot of questions on their behalf ahead of time, if they do want to change one of their answers, then I have to make sure that I click that save and continue button at the bottom. Otherwise it won't recognize that I've made the change.

So in my model, I'm just going to flip back to it again. You'll see I've got sections that are broken down into sales and then one that's about accounts payable. So I have like an AR section, an AP section, I have a government section, a payroll and HR needs section, and then a scope section. And this is just one that I've made clones of and have changed for other things as well. So if I'm pricing just payroll, I have a just pay payroll model. If I'm pricing bookkeeping and payroll together, then that's the model that I just showed you and I put my payroll in a separate section in that case. I know some people, including Mark, teaches about pricing payroll separately, and that is definitely an option that I use sometimes. I kind of judge it according to what I've determined in previous conversations with the client and during the diagnostic review, which I decide ahead of time of which model that I want to use.

You may also recall from a previous session that there's four types of questions. So here on this demo model that we're using, we have the yes or no type question, we have the dropdown type question, and then we have where you can enter a numerical field type question.

The type that isn't here in this demo model is the free form text question where you can type in an answer. Those are the ones that don't have an impact on the price, but which you may want to know still, such as, you know, maybe how they heard about you or if they were referred to you, who referred them to you. So those could be things that you want to use later in your proposals. Because this information next month we're going to talk about proposals. So all of this information can carry over automatically to your proposal. So having a free form text field question like that could carry over into your proposal. So it's still a useful type of question to have.

With any of the questions you can stipulate if you want it to have a default answer. So for example, in the settings when we were setting up this question, we could have said that we wanted our default question to say please select. And then it would force us to make a choice. We could say, you know, if our ideal client is lawyers, in our settings we could set up the default answer to this question to be lawyers. So just remember that you can also.

Set up whatever you want any of these default answers to be.

So after I've finished reviewing all of these scope type questions, then I click on save and continue at the bottom as I mentioned. And now we start to get into some of the more optional type services. So although things on that first page may change a little bit, they're not really things that are optional. Right. So they're not necessarily going to change the nature of their business. They're not going to necessarily change.

Whether they do payroll, journal posting, whether they do foreign currency transactions. Yes, those things may change just as a nature of doing business, but they're not things that they can really choose to change or would want to choose to change. So when we get into the next sections, now we're starting to get into some of the more value based type questions and the things that are optional. And this is where you're really going to see the value pricing type questions come into play and where you're really going to get start to see those numbers change for your own profit. I do see a question that came in from Jenny that was on this about your business page where it said, would the question about credit cards include debit cards as well? I include a debit card as part of the bank account, Jenny, because a debit card are transactions that would appear on the bank statement.

Okay. Yeah, thanks. Pardon me.

Oh, I thought that was another question coming in.

So transactions that happen on a debit card will appear on a bank statement. It's not a separate statement that would need to be reconciled on its own the way that a credit card would. So I hope that answers your question.

Okay.

So let me just. Next section that we're going to look at is these optional questions. As I mentioned, these are going to really start to impact the price that you're having. So you'll See here. Do you want us to. This is one of Mark's demo models that we're using. Do you want us to run your bill pay? Yes or no? How many users will need access to bill.com that's a software that you can use for doing payables.

And then other things you might want. This is the real, real optional value price. So do you want us to account for divisions and locations? So you'll see on this first page, we had this free, this number field where we could ask how many divisions and locations they have. You may remember one of the calculation types was when you enter a number of units for something and then you have a unit price for something, that would be an example of this type of question. So if you were looking at this behind the scenes, when you enter one or two on this question question and you're on your review page, it's not necessarily going to adjust your price at this point because you've entered two. But when you get to this other things you might want section and now they're, you're asking them, do you want us to account for your divisions and locations? If they say yes to this question at this point point, the software is then going to automatically go back to that number two that you entered on the previous page and you will have. In your calculations, you will have said, okay, for each division and location, I want to add $1,000 to their price. And so if you've put a 2 in that previous question, when you asked how many divisions and locations they have, and then they say yes here, that is going to add $2,000 to their price. Now, because those two calculations work together. Okay.

One of the tips that I like to share with people when I'm going through this section is to remind the customer that, you know, to, to really focus on their wish list or the things that they want to have, and reminds them that when we do get to looking at what their price would be, that we can always go back and change some options. So if they're humming and hawing, if I've asked them, do you want us to scan your records? And they are, you know, kind of hesitating and humming and hawing and they're like, well, yeah, I do want you to scan my records, but how much would that cost? I, I would say, you know what, let's just check off yes for now. And when we look at the price and, and come back to it later, if the price is a little high for you, then we can come back and change this to no. And see how it impacts your price. And so I, I remind them to really go with their wish list. I, I like to think that I've been pretty successful with effective pricing so far, actually. I'm gonna, I'm gonna share this tip in a minute, but it's, it's a little bit, I think of a. A play on words, if you will. So here's some other optional questions. Do you want us to do the work at your premises? I don't actually offer that in my model that I deleted that question from Mark's model. Do you want us to collect your paperwork? So for me, that would mean that they are not willing to use a software like Dext, for example, and they want me to send a courier to pick up their paperwork, which I do offer as a service. But of course it factors a price in if they say yes to that. How often do they want a review meeting? Quarterly, monthly, Once a year? I don't actually have never as an option in my own model because they have to meet with me at least annually. My basic package is an annual meeting. And then once we've finished going through these again, hit that Save and Continue. And now we are at our fixed price screen. And now because we've hit save and Continue, we've been able to toggle back and forth anywhere we want to go up until this point. So when you first arrive on this page, you'll notice that there isn't any prices here yet. And this is a good thing. And it's also part of the reason why I like to save time by pre answering some of the scope questions at the beginning because it allows me to spend a lot of time during my meeting on this page. I really like to review my packages with them. So in a previous session we talked about how you can set these up in your settings and how you can determine what's services included with Bronze, what's included with Silver Gold. We talked about these tool tips. We talked about how you can indicate that one of your packages is most popular. There was a lot of different settings. You can put a dash mark if something's not included at all. You can put some free form text words in.

You can put some tool tips in. We actually did that one as part of our demo earlier. So there's a lot of things that you can do in your settings ahead of time. And I like to spend time going through this. So I start with my Bronze package. And so this is the tip that I always like to share with people when I, when I have an Opportunity in my trainings with Mark and I don't know if anybody would have just heard it. When I'm, when I'm talking about my bronze package, my. I explain what's included with that. I say, you know, it's everything that you need for your books to be compliant. It includes paperless expense and receipt processing and we're going to help maximize your tax deductions. And then I'll talk about my silver package and I'll say, you know, it includes everything that was included with bronze, but then you also get your sales tax returned. We're going to do any foreign currency adjustments for those transactions. We'll maintain a fixed asset register for you. We'll do an annual review of your business. You get our holistic cloud financial system and we're going to review your balance sheet items for accuracy. And then I talk about my gold package and I say, you know, not only do you get everything included with bronze and silver, but you're also now going to get a dedicated account manager specifically for you. So you're working with the same person all the time. You're going to get summary management level recording. You're going to get cost control for your expense monitoring. We're going to give you some analysis and some advice about your expense expenses. We're going to monitor your accounts receivable for you so you're not getting money left on the table that you're not able to collect. We're going to give you some enhanced credit control tips and so on and so forth. So I, I would spend time going through all of these.

Does anybody who may have been drop a, drop a message into chat. If you've been to any of my training sessions before and you recognize what I did as I was talking about those models, I'm just going to take a sip of water because maybe I didn't emphasize it enough because I see a quick answer first quickly just came in that said no.

Yes, Maya, Yes. Thank you so much. And Terryn, Yes. So that is exactly what I do when I am talking about my bronze package. My voice is a little bit lower tone, the speed of my words is a little bit slower. Remember, I'm on a video meeting with my customers so they can see my face, they can see how animated I am. Then my silver package, I talk with my normal voice similar to what I've been doing with you guys through this whole session today so far. My pace is normal, my volume is normal, I'm smiling a little bit. You know, just, just my normal, everyday kind of talking voice. And then when I talk about my gold package, I smile, I laugh, I get animated, I get excited, my, my volume goes up, my words get faster, I start talking with my hands a little bit in front of me, my body language changes. And so far, guys, honestly, well, I have my premium package I have indicated as my most popular because I have no scientific proof about this at all. But to date, every client that I have used effective pricing with since I started using this software has always chosen my premium package. And trust me when I say mark knows this, I have really pushed the limits in my settings. I have bumped my prices up so high, so much higher than I ever would have felt confident doing before intentionally trying to get somebody to choose my middle or basic package. And.

And the only thing that's ever happened so far. So everybody was always saying yes to my premium package right away on the spot. Which, by the way, guys, you don't want that to happen. If they say yes right away, it means you've left money on the table. You actually want there to be that little bit of hesitation, that little bit of let's go back and review some of your questions.

But yeah, so the, the only thing that's really happened to me so far is I had somebody say, let me think about it for a day and I'll let you know. And they didn't even think about it for a day. They thought about it for a couple of hours and they got back to me and they still chose my premium package. So so far, I don't know if you can hear me knocking on wood here. Everybody has chosen my premium package.

So anyways, after I've finished going through all of these packages before I reveal any prices. And this is really important price psychology here, guys, before you reveal any prices, ask the client which option they are leaning towards. Ask them which one they think is going to work best for their needs. And then I will go, let's just use our most popular package in our demo here. I will go ahead and click select on that package. Oops, I went too far.

When you click it once, I clicked it twice. When you click it once, nothing actually happens at this point. It doesn't mean that they're actually selecting that package. All it does is highlight that column so that it's easier to see when you're talking about with them. But now it is time to reveal the prices. So we're going to come over here and click on our fixed price button. Now you're going to see the prices have appeared. You're Going to see some more of our options that we talked about before that are customizable. This message here, your small monthly investment is just. We can change the wording for that over here where it says 12 payments of. We can change the wording for that. We can actually change in our settings whether we even want it to be 12 payments. Maybe our bronze package, we only want to set up on four payments, still the same total annual price. But if we're doing quarterly work for them, maybe we only want them to pay quarterly. So you might set that up that it's four payments of and a price. So lots of customization available in here. I won't get too much into that detail. We have gone through that in previous sessions. But once we've revealed the price, I now kind of pause and I. And I. I can see my customer on the, on the screen.

And I can see, are they hesitating? Are they humming and hawing? And. And I kind of take that mentality of, you've probably heard it before. He who speaks first loses. I don't let there be an uncomfortable length of silence where nobody is saying, but I definitely don't jump in right away and ask for the sale immediately. I let them roll around with it for probably about a minute, which. Which does seem like a really long time when you're sitting there in silence, maybe 30 seconds to a minute, now that I think about it. But I'll ask them, you know, 12 payments of 375 for the silver package that you thought.

Would work best for what your needs are. Is that within your budget? Is. Is that in line with what you were thinking? To. One of two things is going to happen. Either they're going to accept the price. Like I said, I don't want that to happen because then it makes me feel like I've left money on the table. If they say yes to the price too quickly, then I feel like, oh, shoot, I should have charged more. I should have had a higher.

Prices on my questions or in my settings or. The other thing that might happen is they're going to think it's a little more expensive. This is not a bad thing, guys, okay? If this happens, it's actually a good thing. So if they say, oh, you know, 375 is a little more than what I was hoping to spend, you know, they might say, maybe I want it to be around 350 or 325 or 300. You could say, okay, no problem, Roger. Or Mr. Customer. You know, there was a couple questions that we went through where I told you to go with your wish list. Let's go back and take a look at those questions and see if it's things that you really need. So one of those options was you weren't sure if you wanted us to scan your records for you or if you wanted to do it yourself. If we change that answer to no and say that you're gonna, you know, take a couple of minutes and scan your records to our, to us, yourself, and we can certainly train you how to do that. You can use your mobile phone to send us pictures. It's actually really quite easy. Let's see what that will do to your price. Remember, because I've made a change, I want to click save and continue again. I'm going to get back to my fixed price screen. I can now see that that price has lowered down to 325. And I can say, Roger, is that more in line with what you were thinking? You had said somewhere between 3 and 350. So 325 sounds like it'll work for you, right?

If the price hasn't gone down enough, no problem. You can just go keep going back and forth as long as you want, changing any questions. As long as you're hitting that save and continue.

If at any point you get to a pro, a point where they've answered all of the questions with everything that they absolutely need, they no longer have any wish list items on there. It's the bare minimum that they need. This is where you have a choice. You can look at that price. I have my get out of bed price that I won't go below and you can decide, do you want to work with this customer? If you want to work with this customer and you really want to get the sale, remember we have the option of our behavior rewards. So the customer will see this BR on the screen. They don't know what BR stands for. I've never had anybody ask if it said discount. You know, obviously they would ask. They would be like, hey, what is that discount button up there? But because it says br, I've never had anybody notice what it is. But if I really want to work with this person. We've gone through all the questions, we've changed everything we can. The price is still a little bit too high for them. I'll say, you know what, Roger, let's see what we can do for you here. I do occasionally offer behavior rewards or discounts to customers if they can help make our work a little bit easier for them. So I know you do a Lot of overseas traveling in your business. Would you agree in writing in our service agreement to keep all of your overseas expenses on your credit card? Because if you can agree to that, Roger, we can say yes. And you'll see automatically that brings your price now down to 292. And I know you were hoping to stay under 300. So Roger, if you can agree to keep your overseas expenses on credit cards, I would be happy to give this discount to you. And then, you know, you can offer other rewards. You know, are they willing? So my rewards are a little bit different. One of the examples that I have is that they have to provide all of their documents to me by the 5th of the month. If they do, then they get a reward. If they don't, then they pay a little bit more. I do give them a couple of months leeway, but if they start consistently getting late or later and later every month, then I'll have a little chat with them and just say, you know, this is something that you agreed to when we did your pricing, that you would have your documents to me by the 5th of every month. And I, you know, I had good faith that you were going to do that. And I've been giving you a discount on your price for that. But I've noticed you've been sending them later and later every month. If we can't get back on track with this, I am going to need to remove that discount and your price would go back to the original price that you were quoted. And I would of course remind them of that. And again, this can all carry over into their proposal. So let's say Roger says yes, $292 is a great price for me. Let's go ahead and proceed with our silver package.

Then you would click, click select again. Well, we've already selected it and click save. One thing I do want to mention, and we talked about this in a previous session about adding behavior rewards on the fly. So these are all rewards that you would have set up ahead of time and you can have different rewards for different packages. So if I were to select my bronze package and then go into behavior rewards, you can have different questions in here, but if I wanted to add a reward on the fly, perhaps there's something that I know is really important to this client. I can do that, that here. I can just give it a name, add a description, add whatever discount it is that I want to give to them. It makes the client feel special that you're doing this for them. Just know that if you do that it is changing in this quote only and not on your actual model. So if you were to go use this model to quote a different client, that reward that you had added on the fly would not be there. So I'll go back to my silver package.

One other thing that I actually wanted to show you on the fixed price page and, and we're going to look at payment plans in a minute as well is this months button. There's a couple of different places that you can change the number of months that payments are spread over. So I already mentioned one of them that in our settings you can choose price per package how often you want the payment spread over. Here on the fixed price page, you can click on this month's button and change that and then hit the little refresh key and you'll see it will double all of your payments because the total amount still stays the same. But just that now we're doing it over six payments instead of 12. But for now I'm just going to change that back to 12 and in a moment when we look at payment plans, I'll show you the other place you can do it. So before we move on to the next screen, I'm just going to check for questions.

Scrolling back a bit here, Lindsay, I've put these other things you might want meeting scanning of receipts after the fixed price score screen in the enhancements section. Instead of putting them before the fixed price screen, should I move them? So Lindsay, here's the thing about effective pricing. It's, it's marked software, but we can use it however we want. I like to offer different things as enhancements because I find the meeting, the scanning of receipts, I find that part of the who my ideal client is and what my regular day to day process is. However, having said that, the, the part about the meeting and, and how I mentioned things can be different per package that you've got. So here in my packages.

In this model.

Let me toggle over to mine for a minute.

Sounds fine.

So here in my actual model you can see my basic package does not include regular business review meetings. So what I do in some of my enhancements is I know having gone through this, I know somebody might want a dedicated account manager, for example, but that is only included in my premium package. So if someone were to select my middle package, I would have that as an enhancement question in my middle package. But it's not an enhancement question in my premium package because it's already included there. So when you're designing what your enhancements are, you can Design it per package but things like scanning receipts. I do have that before my fixed price screen meeting frequency I could, I would definitely consider putting that afterwards. I, I would definitely keep it before the fixed price as well. But then you could offer it as an enhancement if somebody said, you know here regular business review meetings. My basic package only includes an annual business review. So if somebody want chose my basic package but they wanted to meet more frequently I could offer that as an enhancement only if they choose my my basic package.

I hope that helps. Let me check for other questions.

Catherine says are the items the client can drop to change the price best to appear in the other things you might want section. So, so it is easy to go back and change the price. Are the items the client. Do you mean drop down type questions to change the price? No, it's just when you're going back and forth with the with the client on the quote and you're saying okay, well let's go back and look at the things you can change to change your price. Yeah, so absolutely. I tend to keep whoops, went to the wrong spot, you open up.

The skim. I tend to keep.

All of the questions that won't change very much that aren't really their preference type questions or value type questions. I tend to keep all of those in this about your business page. And so then when I'm toggling back and forth I really only need to toggle to my other sections. So the other things you might want is the one that really I find has the most challeng changes but how I showed you in my model how I have an AR section, an AP section, a payroll section, things there change as well. But that's why I've labeled them as separate sections because if they want to change something about their payroll I can just toggle directly back to that page without having to look for which section that question happens to appear in. Thanks Kim. No problem. Stephanie said when we print out the questions how can we get it to not include the behavior rewards when we print? So Stephanie, I am going to talk about printing options in a moment so I hope I'm going to table that for now and hopefully it will answer your question when you come back. About that Catherine, no problem about forgetting the qq. How can you phase in a price increase over a period of time that is moving an existing client to to value pricing?

So.

You definitely need to have a repricing meeting. So if you're moving I'm assuming you have an existing client that's maybe on fixed Pricing or an hourly rate. And you want to move them to value pricing. That's right. Sorry, yes. Yeah. So you would need to have a repricing meeting. And when we get to the payments plan, if I'm understanding your question, you're saying their, their price is going to go from hourly, maybe $60 an hour, $70 an hour to 1500 dollars a month and you want to gradually phase them up to the $1,500 a month.

Is, is that what you're doing.

Or, or a percentage increase over like every three months it goes up another percentage to get to the 100%. Yeah. So we're going to look at that in a moment on the plan page. And, and I'll tell you a couple of different ways how you can handle that. And then Yui says, could you give us some additional enhancement options for bookkeeping services? Yep. So some of the. Let me just toggle over to mine and I'll show you some of the enhancements that I have on this particular model.

So in this case, if somebody has chosen my starter plan, these are some of the enhancements that I have available. So I would offer a support package of one hour a month, which includes the dedicated account manager. You can have just the name of what's included. You can also customize it where you can add a little note below. You can put tool tips here. In this case, if somebody is on my starter plan, this is where I said they only get an annual review. So this is one of my enhanced, where they can upgrade to quarterly if they want. If they want an enhancement where they upgrade to manual to monthly. Sorry. Then they need to start with my middle package. And then my middle package has an enhancement to upgrade to monthly meetings. If I went back and chose my middle package.

Now I have again the dedicated account manager option, which a lot of people, I have that on all of them. It's included with my premium, but I have it as an enhancement on both of my packages because I find most people want that anyway. It's a really easy upsell for me. I've offered some customized reporting here that's I. I typically take things that I have learned that if a customer has is choosing a basic package, but there's things in, there's two or three things that I know from my middle package that they're like, geez, I'd really like to have that, but I just can't afford it right now or whatever. I don't want the whole package. I only want those couple of things. I picked two or Three enhancements for each one. I don't want to throw a bunch of upsells at them. And I believe on this particular model.

I think I only have one enhancement. Yeah, I only have one enhancement on this particular model for my premium option. So it's not necessarily something that you know like when you walk into a car dealership and they're throwing this upsell at you and extended warranty and paint chip repair and reel and rim repair and you know, flat tire repair and roadside assistance and you know, they just start throwing all. You go into that business manager office afterwards. I'm sure you guys know what I'm talking about. And they're just throwing upsell after upsell after upsell to you. I do not like to do that. So I've picked a few that I know from who my ideal client is, are things that they typically want and then, and then I put them in there. I'm just keeping an eye on the time because I know the last couple of sessions I went really over and there's a couple of things I want to talk about today still. So let me just quickly see. Okay, that was the last of the questions there. Anyway. Okay, so that was the fixed price screen and then we looked at the enhancements screen. So again, enhancements, you can add an additional enhancement on the spot just like you could with the behavior rewards and same just like with the behavior rewards it will impact this quote only it does not impact your model if you're using the model again with somebody else.

So let's say right now I have my price at the top. They've selected my silver package which is currently $292 a month because they wanted to stay under 300. So we went back and we changed some questions for them. And so now we are at the enhancement screen. So I've clicked save and I've clicked select here and save and continue.

So now we are at the enhancement screen. Oops, I went save and continue one too many times. So now I can say to them, so this is a demo model. I personally don't offer.

Sorry, I do offer. I'm just reading the question now. It's sales tax returns. Some my ideal client, I do their sales tax returns for them. Anyway, my ideal client is kind of hands off. They can look but don't touch. I like to do everything in their books. But your ideal client may not be like that. It could be that they just want you to give them the sales numbers and they do their own sales tax returns. But you can offer that as an add on for just $75 a month, we will complete your quarterly sales tax returns for you and file them on your behalf. Perhaps they have inventory. This might be a model. I wouldn't necessarily have inventory unless you, your ideal client deals with inventory all the time. I wouldn't have inventory type questions on all of your models. I would create a separate model that had inventory type questions where if you are doing a quote for a business that deals with inventory, then those questions are there. I wouldn't have it in just a generic file where you may not be dealing with inventory all the time. So they might say, you know what? Yeah, I think it would be a little easier if you do my sales tax returns for me. So again, the software will change their price right away. Right. If I say no here, there's their 292 price. If I say yes. Okay, Roger, that brings your price up to $367 a month because we've added those sales tax filings for you. Excuse me, sip of water. Is that still okay with you?

Roger's going to say yes. That's great. I've got everything I need now. Let's continue.

So now this will.

Bring us to.

Just going to advance my notes a little bit.

Okay, so this will now bring us to our payment plan page. So again here at the top we have that they've chosen the silver package and that it's 12 payments of $367.

We have a few different areas here. I'm, I'm gonna, I'm gonna cover all of them, but I am gonna jump around a little bit. So first of all, this is the third option where I was telling you about how you could change the number of prices. So one was in your settings where you can change the number of prices per package. Over here on our fixed price page we have this months button. And now here on our payment plan we can also change the number of months. So I'm just going to Change it to 6. Hit Tab. You'll see my price is doubled. And it now says six payments. Okay, I'm just going to temporarily change that back to 12.

You also have sales tax applicable field here. So if you say yes, if you. It is going to by default take the rate that you have set up in your settings. But you do have the option to change it.

If you needed to if you're, you know, here in Canada we have place of supply rules. I'm not sure what it's like in other countries, but if I was selling to a client in a different province, then my tax rate may change for them. And I don't necessarily want to create a different model for every single tax rate that I may have. So I do have the ability to change that tax rate here. If I wanted to change it to 15%, you'll see my sales tax amounts have changed at the bottom. Just going to change it back. And I'm just hitting tab here, guys, to to make the changes happen. If I hit save and continue, it's going to take me to the next screen and I'll have to keep coming back to this one. So I'm just hitting tab as I make changes here. So looking at the number of months that you want the payment to be spread over, well, it does work the same way as the months button on the fixed price page. When you change it on one page, it'll also change on the other. So if I change the statistics here and go back to fixed price.

You'll see because they've selected the silver package, that one has also changed to 6, but you'll see the other packages have changed to 12. So that's one thing to remember about where you are changing the number of months payments. So if I go back to my payment plan and I just put this back to 12 for a moment, I just want to show you the difference of this. And I go back to fixed price, everything is back to 12 payments again. If I change this to six payments here.

It'S going to change all three packages to six payments, not only the one that I've selected. If I change it on the payment plan page, it is only changing the package that I've selected. Okay, so that's an important thing to remember because if at any point they decide they want a different package and you go back and change, you have to remember to make sure sure that the number of payments that you've selected matches the package that they are choosing.

So I'm just going to put both back to 12.

Okay.

So now we're going to focus on the actual payment section at the bottom. You'll see that you can choose the date that you want the first payment to start. I'm going to come back to advanced payment and final payment in a moment. Like I said, I'm jumping around a little bit here. So if this was an agreement that you said we're going to start on November 1st or November 15th, whatever date you're agreeing will start, you can change the date of the first payment. And because I've selected 12 monthly payments, all of the regular Remaining payments will then occur on December 15, November 15. I know I mentioned we're going to look at the print button. I'll just quickly show you what that looks like.

So December 15th, January 15th, February 15th, so on. So you can change that date of the first payment.

And.

Then the two other sections that we have here, the. Oh, sorry. The other thing that I wanted to mention about the difference between first payment and remaining payment, you may see sometimes even in your own purchases where things don't always divide exactly evenly by the number of payments that you're splitting it up to. It could be that There's a little $3 extra or $4 extra or something in one particular month. That's another reason why we have first payment and repeat remaining payment as separate sections in here. Because it could be if there is that little bit of a difference, it's going to get added on to the first payment that you do and then all of their remaining payments. The other, in this case 11 payments would be the amount that divides equally every month. And then finally the other two sections that we have here is advanced payment and final payment. You may. So there's a few different situations that you may want to use these. I'll give you a couple of examples. I'll tell you how I use. Might be that you want to take a retainer that is held on file for me. I charge an onboarding fee for every client. So let's say for advance payment I'm going to charge a $2,500 onboarding fee. When I put $2,500 in there, I now have a drop down box over here that says whether it's included or not. And what that means is this $2,500 included in what my total annual price is that I've had already quoted to them. So I'm just going to show that to you again. If I put that back to zero, their price currently that they've agreed to is $367 a month. I'm going to ignore the sales tax. They've agreed to $367 a month. If I say that I want an advance payment of $2,500 and it is included in their 12 payments, you'll see that price now goes down. However, if I were to select in the dropdown and say no, that that $2,500 is in addition to the monthly payment that they've agreed because it's my onboarding fee, I charge that before I do anything, then their regular payment still stays according to what they have agreed on. And I can also have a separate date for this. And again, we're going to look at proposals more next month, but this can all carry over into your proposals. So I could say we're going to start your monthly bookkeeping work on November 15th. So that's when your regular first book payment will be. However, we're going to get started with your onboarding prior to that. So that is payable today when we sign our agreement.

And I can say in that case that that is not included.

And then final payment could be. So let me take this out a little bit again.

Just going to change everything back to the default settings that we had.

The final payment could be, I don't use final payment. I don't have a need to with my business. But it could be that.

Maybe you have a fee that is due on completion. So let's use income tax filing, for example. You may have a fee that is charged all year long because you want to break it up into monthly payments. But then at the end of the year at tax filing time, you might have a filing fee that is a final payment that is due from that person.

And you could put that in here. And again, along with maybe you have a $500 filing fee, for example. And again, if it's, if you say yes, it's included, then the monthly payment goes down. If you say no, that it's in addition to the monthly payment that they've already agreed to, then that monthly payment stays the same. And it could be that you're not going to do their filing until April 15th of next year. So you could say that the final payment is due on April 15th.

I'm going to review the print buttons on this screen and the, the fixed payment screen. But I'm just going to do a quick check for questions first and then we're going to look at sort of finalizing things off. So looks like just one question here. If you complete the cleanup work, do you still charge an onboarding fee? How do you communicate the deliverables for the onboarding fees to the client? I charge an onboarding fee for every single client, regardless of whether I am doing cleanup work for them, whether I'm doing monthly recurring work for them. It doesn't matter what my work is that I'm doing for them. I absolutely always charge an onboarding fee and that is a fee that I charge to acclimate them of what my processes are. So using dext, my communication processes, my client handbook, introducing them to my team, you know, maybe getting their chart of accounts set up the way that I want.

There. There's a learning curve with every. Even though I have my ideal client, even though I have a specific industry that I work with, there's still always those little nuances that are different for each person. And I'll have a client handbook that is in general of how I deal with my clients. And then I'll also have a client specific handbook of what any of those little nuances may be. And so my onboarding fee really just covers all of that work. It also covers in my service agreement, my clients do not have to stay with me for one year even though they are agreeing to a 12 month monthly price.

They don't have to stay with me for a year. If at any point either of us decides the relationship is not working, we can terminate the relationship with 30 days notice. That's what's in my service agreement. They can even cancel with less than 30 days notice, but they would forego a one month payment at that point. So my onboarding fee also covers that outlay of work that's always the heaviest at the beginning when you're first dealing with a client. Because later in the year, after you've been dealing with them for two or three months, you get into emotion and things are pretty easy. And if they cancel after a year or two years or whatever, it's not such a big deal. But if you start working with them initially and your, your outlay of time spent on that client is really heavy in the beginning, perhaps you need to learn a specific software that they use or something that, that might be industry specific.

Then the, the outlay of work that you do in the beginning is going to be more. So I always charge an onboarding fee regardless. It may not always be $2,500. It would depend on again what I have determined through previous meetings with the client and through the diagnostic review. Okay, so I want to look at the print buttons and then, and then we're going to look at how to finish it all up. So on the fixed price page and on that payment plan page, you have a print button. And there could be several options in here. In this default model we have a couple. The default page is going to give you a one pager of.

Of your packages and what those prices are. You really want to use this as a last resort. I mean, ideally you want the customer to make a decision on the spot during the meeting with you, but if it happens that they want to take it away and they ask you for something that you can think about this is the page that I would give them. You'll see in here I also have an option that says fixed price agreement rocket theme and, and you may have other options in here. Those are the proposals and those are the ones that we're going to start to get into in more detail next month. So that's the, the print screen. You can get this nice little one pager of all your packages and the price for them.

Very similar on the payment plan page when I go into my print screen, my print button, I'm going to get the same two options. The default one gives me a little again one pager.

Where I could tell them this is when your first payment is due, the amount, the gross, the tax, the gross and then these are the dates of your follow up payments. This is the date of that final payment that I had set up there in the model that I obviously didn't take back out. And then, and then you can also carry that over into the proposal which we're going to look at next month.

I'm just going to.

So Steve has said his agreement has a section that if they stay with us for 12 months the onboarding fee is waived. However, if they decide to leave less than 12 months, the fee is due and payable and prorated for the number of months they stayed. I, I'll tell you the reason why I, I do know people that do that same method Steve. The reason I chose to do it at the outlay is because once a person has decided to leave you it becomes hard to collect money from them at that point point. So I, I collected at the beginning. There's nothing to say that if they stay with me longer than I, I have anniversary discounts that I give for every year that a customer stays with me. I give them an anniversary discount on their invoice. That's not in their pricing agreement. It's, it's a little surprise on their invoice once a year or. And so the onboarding fee they do gradually earn back the longer that they stay with me. But for, for me I found trying to collect it after the fact prorated to however long they had been with me didn't work for my practice. But I do know other people that do it that way and, and may have found a way to make that work for them. It could just be my own comfort level that I just, I felt like once a relationship is ending, unless it's ending because they're going out of business or retiring or something. Usually if a relationship is ending it's because it hasn't worked out for some reason whether that's you not liking working with them, them not liking working with you. There's. There's usually some type of conflict that it's not ending or that it is ending. Sorry. And it becomes difficult for me to collect at that point. Okay.

UE says, could you describe how you handle the anniversary discount? I just, I have my own record keeping process. UE and in my QuickBooks I have a line item that is a discount. And there every 12 months when I send their invoice, I manually add a line item to that particular invoice that says anniversary discount. Thank you for staying another year with Beyond Bookkeeping Business Services. We're so glad that you're with us. We enjoy working with you. I can't remember exactly how I have it worded and I have it in a nice bright. The whole invoice template is a nice bright different color. And I have some images on it and stuff. It's a little silly, but my clients love it. And then I manually take a discount. I off a percentage of what their bill is for that month. Okay, so that is the payment plan page. How we do. We got about eight minutes left. Let's look at how to finish a quote off. So when I click save and continue on the payment plan page, it now brings us to this review page. So the review page is basically everything that you've gone through. I don't spend a lot of time on this page. I just tell the client, this is a summary of everything we've discussed during our meeting. I'm going to scroll through it a little slowly, but in the interest of saving you some time, I'm not going to go through each item one by one. But let me know if anything pops out to you that you think is not what you intended or that you'd like to change. And we can still go back and change it. And I will literally just scroll through this a little slowly as I'm saying that. And then when I get to the bottom, I do review this part with them. Okay, so your first payment is going to be on November 15th for $414.71, including the tax. I'll send you an invoice ahead of time. As part of our onboarding, I took my onboarding fee out. But as part of our onboarding, we'll have your pad agreement set up for you so you don't need to do anything at all. We'll deduct that payment out of your account automatically for you. And then I Hit save and continue. Now, when you get to this page, this is the finalization point. You're going to get this little pop up that says, congratulations, you're completing a quote. This cannot be undone. Don't worry. Yes, you cannot undo that. You have finalized this quote. So if the customer came back to you later and said, you know what, I went home and I thought about it, I do want to change something, I do want to select the premium package as well, that's no problem. You can't go back and change this actual quote. But what you can do, it tells you right here, is you can clone the quote and then use it to change another one. So I really like that idea because in the event that I've quoted them something and we've finalized it in our meeting and they change something later, it allows me to keep some history about the what I've quoted for them and what changed. You do have the option to return to the quote if you want to change anything, but then you would just hit complete quote.

After you hit complete quote, you're going to get assigned a little quote number and you're going to be given two options. One is to create the proposal, which is what we're going to be doing next month in our session, and then the other one is to generate your price success metric. You don't have to do either one at this point. And at this point, this is where I would end the meeting with the client. You don't want to create the proposal in front of them and you don't want to generate a price success metric with them. So if you are quoting more than one service to them, perhaps you are quoting payroll or cleanup job or something else. You can now go over to a different model and you can start a new quote, or you can end the screen share part of your meeting and close off your meeting with them. If you have gone over to another quote and you haven't clicked the generate price success metric right away, don't worry, because that's when you will get one of these notifications that I had when I first logged in. It was a pop up on my screen that says you have quotes with an outstanding pricing success metric. If I go and read that, it says that the quote that I did for Colonel Sanders has an outstanding pricing success metric. So if I go to that.

Here is now where we generate our pricing success metric. And basically what this is is an internal process for you to be able to track your progress. I'm just going to advance my notes a little bit.

Okay? So this is really your internal process. So this is the total price that is part of what you just quoted them. You can now enter, manually enter a price of what you would have quoted this client before. So if you were not using effective pricing, if you were doing hourly billing, you could estimate the number of hours that you think it would have worked or maybe you were doing fixed rate pricing or flat menu pricing or something. But you could say, you know, the way that I previously priced this client, in the past, I probably would have priced $2,500 would have been the price.

When I say click create. I now get this message from Mark and his team that says, congratulations, you got a higher price by 82%. This is awesome. Well done. Give yourself a pat on the back. It's really motivating. It really help boost your confidence. Guys, honestly, the first couple of times that I used effective pricing, this little message had such an impact on my morale. It seems silly, but it did. And your confidence to continue using effective pricing will grow. And then you have the option, do you want to submit a short success story and be on your way to becoming a pricing hero? If you do, you can enter some, you can say yes or no. If you say no, that disappears. If you say yes, you can type in some details here about how you got that extra price. And then you also have the option to say if you want your success story to be anonymous. We've all seen Mark and other trainers and other effective pricing users share their success stories. You can share, you can ask Mark to share your success success story. Sorry, I'm tongue twister there. But do so anonymously where your information isn't changed. And then he may use that in one of his next presentations. So.

For now, in the interest of saving time, because I see a couple more questions came in, I'm just going to say no, no, and then create and then what this happens, what this does. Now if I go to my dashboard, so when I first log in, I'm here at my home screen and I showed you in the beginning this is where all your pricing models would appear. I also have this other option to go to View Dashboard and I'm, I know we're at 90 minutes, guys, I'm, I'm going to be done in a minute or two. And then just look at those couple of questions that have come in. This dashboard tells you how many points you've earned. We covered that in our very first session about how you earn points as you do things throughout the software and you, you earn badges so it tells you I need to earn 51 points to get my next badge. It tells me my total pricing success metrics. So for myself personally, in my software, my pricing success metric is almost 200% higher. I think I'm at about 197% higher. It tells you how many quotes you have that are in draft mode, how many have been finalized, how many have been agreed to by the clients, how many have been declined and how many you've done this month. And then there's this quote management section. This does appear as an actual bar graph over time, but because we've been doing all of our quotes in demo mode here, they aren't really appearing like that. But then we have this quote management section down here at the bottom. You can see here I've got four quotes that I've finalized while I've been playing around in the software. I can click on quote management and go in here and I can then see, oh, I have, you know, all of these quotes that are in draft mode. And then each one has drop downs where I can delete it because I was playing around with it. I don't actually need that anymore.

So that is how we finalize our quote. I'm going to.

Just show you a slide again.

So next month's session we are starting a little bit earlier. This has nothing to do with the time difference. It has to do with a conflict that I personally have. So next month we are starting a half hour earlier than usual and that's when we're going to look at moving everything from a quote over into your proposal. So the templates that we have, designing them yourself, tweaking them, all the things you can do and then everything after that. And then our December session, we're going to look at some of the other softwares that integrate with effective pricing.

So I'm going to jump over to questions. If anybody needs to jump off or if, if you have another question, now would be the time to do so. I'm going to close this back down in case I need to go back into the software.

Is my software.

Here's my demo one. Okay, so I'm going to look at questions. Stephanie says if you are creating a new model, can you click clone only a portion of another model? That's a great question, Stephanie. I don't believe so. I'm gonna. I believe it creates a clone of the entire model, but it's very easy to then go in and delete anything that you need. I don't think you can clone only sections. Yui says is this page for the review principle that includes. Includes the payment. I'm thinking about using this page. It's the scope of services page in the engagement letter. You. I'm going to go back there.

Just go into.

Quote.

So I'm just going to go into a quote and edit here. And.

So you're saying the review page.

The review page that includes. Includes the payment plan information in the model. So you want to use this. There is a print button here. The thing that I don't like about this print button is that it includes the behavior rewards section. And remember I had said that you only want to offer behavior rewards as a last resort. So printing the summary of this page. If you have not offered any behavior rewards during your pricing process, this does appear. So I don't like to use the print button from here. What would be better, Yui, is if you come to next month's session and you use the actual proposal that's available in the software and I'm just going to actually turn my camera back on to talk to you guys. If you use the actual proposals that's built into the software, then the information that you need to come over to your engagement letter will and. And again, there's a lot of customization and stuff that you can do with that. And then you've also asked now that you use the effective pricing and have used it for many years, do you still complete and generate the. Absolutely, absolutely. The customer success metric? I absolutely do every time. I love the little message that I get at the end. I love knowing, mind you, now that my confidence has grown, you know, I kind of change what it may not be as accurate because the price that I put in of what I would have charged a client might be a little higher of what it actually would have been in the past. But it's internal. It's for my purposes. It doesn't go anywhere, but I absolutely do it every single time. And then if a client declined the quote and doesn't want to continue with the service, how do you mark the quote? Declined. Thinking about this for in the dashboard tracking. So let me just go back here.

Dashboard, so I can go into quote management and.

Oh, I'm not in the right spot.

I've never actually had anybody decline a quote. Let me get back you on that, Yui, because I don't know, I've never actually had anybody decline a quote. Like I said, everybody has always chosen my premium package. So I may need to play around with that a little bit.

To. To find where to do that.

I will let you know.

Stephanie, can you address my previous question about printing out the quote without the behavior rewards listed? Stephanie? I. I thought I just did. Maybe not. I. I did say when you are using the print screen on the summary page here.

I should have stayed there.

Got too many quotes open.

Oh, okay. Sorry. Okay, so I think that answers all of the questions. I know there's some people in here.

That if you have somebody that's declined a quote, I have to actually look that up. Yui, I'm sorry I don't have that answer for you today, but I will get back to you about it, so. All right, everybody, thank you so much for coming today. I hope you enjoy the rest of your week and we will see you next month. A half hour earlier than usual. Gabby's just going to play a bit of playout music. I'm going to monitor the chat box for a few minutes still. Thanks.