Effective Pricing with Kimme Lafayette: Building Pricing Models 2 - Packages + Troubleshooting

So the first thing we're looking at is pricing parameters, package names, default column, minimum and maximum prices, relative price multiplier, and the period to spread prices over and then display options. So I'm going to jump over now into the software and I'm going to go into the model that we started last time. I use 2be, even though it's in draft mode. That's just the way my brain works. I do the same thing in my files that I have saved in Windows File Explorer that if they're still being worked on and they're not final, I put a little TBE at the end of the name, which to me just means to be edited still. So that's just whenever I see that tbe, even though there's this nice big red draft button here, my. My brain looks for the tbe, but that's the one we've been working with. So I'm just going to go in to that and I'm going to quickly show you this pricing parameters page. There's a lot of information here, a lot of customization. It can look a little overwhelming at first. I'm going to focus today on the things that you really want to make sure that you have set up for first when getting your software up and running. Some things I am going to skip over because they're a bit more advanced. And again, we will cover that later in another session.

The first thing to consider on this page is the number of packages that you want to use. Typically, we work with three packages, so that's what I'm going to be using in all of our training sessions. On this page, I'm going to use the middle three named Premium, full, and Essential. You can change these however you want. I've seen some really cute names that people use, especially if they're in like a niche industry. I saw somebody that had a niche industry for like gardeners and landscapers and stuff, and they had really cute names that was like growing up the Vine Full Bloom. And I can't remember what their top one was, but it was so creative. I thought, what a wonderful idea. I need to do something like that for my niche. So you can rename these however you want. I've seen people have a little icon image in here. It was a little miniature version of their logo. I don't know how they did that. I'm going to play around with it myself. I suspect they did it in a Word document or some type of Word editor program and put the name of their package and the image of the logo Right beside it, and then maybe copied and pasted it into the software. But that's something I will play around with later because I thought it was super cute and I like things that are cute. After you name your packages, I do want to say this bronze level package is a mandatory column. If your model that you're using only has one package and there could be situations where you have that, then it is mandatory to use this column for all of your information. So you can't leave this one blank. The software will always refer to this column first, the second one from the right. Okay, you can still do all the other customizations that we're going to talk about in today's lesson, but they have to be in that column. Remember, when you're renaming your packages to keep the names short, you don't want it to be five or six words long, because when it appears on the final screen when you reveal your page, you don't want it to take up too much real estate. At the top of that column of your packages page, the next section is the tooltip text. It's not essential. Some people use it, some people don't. I do like to fill it in myself because I use that section for my price anchoring. So as you can see, there's this little chevron here where you can pull down to make it longer as you're typing the information in. It doesn't show this long on the reveal page. It shows up as the little tooltip icon. So again, you want to keep it fairly short because it does show a little bit on the final page. And again, we have limited real estate before our package list starts to show. We just have that little space above, so you don't want to have it too long. I use this for price anchoring. Just quickly I'll tell you. I describe my packages as my bronze package being similar to having a casual on call bookkeeper that does your books once a month. And then my silver package, I say is similar to having a part time staff bookkeeper that works for you once a week. And then my gold package is equivalent to having a full time bookkeeper on staff in your office every day that's available all the time. And when I'm mentioning those tool tips, I don't actually type it into the tooltip. But I will have done some research of the area that my prospect is in, geographic area to find out what some bookkeeping rates. Let's say they're in Toronto, which is about an hour from me here. Big, big urban area. For those of you that might be somewhere else in the world. To hire a full time bookkeeper on staff would be approximately $80,000 a year, including their salary, compensation package, benefits. Like I, I wrap that all up into that anchor price that I give them. Because my, I know that my price is not going to come up as $80,000 for, for them when I create that anchor. And because remember, I'm creating this at the end of the page right about when I'm going to reveal the price. So the anchor is planted. I reveal my price, it works out to $40,000 a year. They think that they are getting a great deal for half the price of what it would cost them to hire somebody full time. And that's why I have good success. Every client that I have used the, the software with has chosen my premium package. I keep pushing the limits, trying to force somebody to choose another package, but everybody keeps choosing my premium package. So that's good. Next we have the minimum and maximum section. Choose what you want those prices to be. So let's look at the minimum. You've heard me refer before to get out of bed prepare price for most of my models, my get out of bed price is $500 a month, which means I won't take on any clients that are less than that. So I would set my minimum price at $6,000 for my base package. Because even if they choose my basic level package, I don't want it to come up as less than $500 a month for anybody that I'm quoting. So I would say that my minimum on my basic level package is $6,000 a month. Regardless of how they answer, even if they say no to 80% of the questions, their price would still not be revealed as less than $500 a month. So there's not going to be any surprise, low prices for me at the end when I reveal the price, which is something that I find some people are kind of nervous about, they're like, what happens if I reveal the price and it's too low? This is where using this minimum section comes in really handy. Then we have the maximum price. This is if you want to put a cap on what your maximum price would be. I mentioned in a previous video that in my models I initially had them all set at 100,000, which was in one of the templates that I used. I now have a client getting close to that. When I do their next annual pricing, I'm going to increase that maximum. And we actually did this when I mentioned the one on one session that I did with somebody earlier this week. Her base package price was coming up at, I think, 11 or 12,000. And there's only.

Four or five things that she actually does as part of her base package. It's very much a do it yourself type package. And she was saying there's no way that somebody would pay $11,000 for what I'm doing for them. So you can set a maximum. And so what we did with her, I said, well, you know, what do you think would be the maximum that somebody would want to pay for that or that, you know, that you think your time is worth for doing those four or five types of tasks that you have in there? And don't undervalue yourself. Don't just put a low maximum in because you think that's the maximum that the other person is going to pay. So she said 8,000. So we changed her max price to 8,000. I showed her how that would change. So I'm just going to change a couple of numbers here a little bit. Make this one.

8,000. Just doing this. So when you we get to the review page at the end, you will see a few things here. So that's the minimum and maximum section. Next we have this relative price multiplier and relative price add in the essential column, which is mandatory. This is the price that is calculated depending on how your clients answer the questions. I'm going to dig into that a little bit deeper when we get into the review page or to the packages page. Remember, the software is not dynamic. So you set your packages. You might have five tasks that you do in your basic package, 10 tasks in your middle, and 20 tasks in your premium package. And you might ask in your software, do you want us to look after your sales tax filing? The customer may say no to that. Then when you get to your packages and look at your middle package, which includes HST filing, they may say, I want your middle package. But I said, I don't want you to do my HST filing for me. You can't remove that. The package is a package. If you go to McDonald's and you don't want a small pop, but you don't want a medium pop, you want somewhere in between. You have to make a choice. You have to either buy a small or a medium and not drink it. The package is the package package. You can't change that. You can use tools in the software with behavior rewards or the enhancements which we're going to talk about later in today's session and I'll show you how to do that. So the part that's important to remember here is that when they are answering the questions and you're going through all of your sections, the the price that gets calculated at the end will always be for your basic level package, whether they want more tasks or not. It's always going to be the price that's calculated in this basic package according to whatever minimums and maximums you've put in here. So if they want the middle or premium package, because they've answered yes to some of those other questions, you're going to use these relative price multipliers. So your base package is always going to be a one. That just means that whatever price is calculated based on the questions that they've answered, that's what the actual price determine for those extra five services in your middle package, what percentage of revenue would you like to have on top of what your base calculation is if somebody were to choose that middle package? Same for your premium package. The default is when they answer the questions. That's going to calculate the base level package price regardless of what they answer the questions to. If they choose the middle package, we're going to get a 30% increase on top of whatever the base level package was. Okay. If they choose the premium package, we're going to get a 50% increase. And so you can change these. If you want your middle package to be 20% higher and your premium to be 40%, you can change these multipliers however you want. So basically what that means is if a client answers their questions and their price comes up to $1,000 at the basic level, but they choose the middle package would be 1200. If they choose, the premium package would then be 1400. So the packages themselves don't change, but the price changes based on the percentage multiplier. Then we have the relative price add. This can be used, they can both be used together, or you can use just the multiplier or just the ad. But I, I wouldn't recommend that. So you might have a model, for example, where there's something special about your premium package where you're like, Yes, I want 40% more, but I also want, no matter what the price is, I want to add a thousand dollars on, on to that if they choose my premium package, or 500 if they choose my middle package. And this is a flat rate number. In this case, it's not a multiplier. Okay? So if the price calculated before we said $1000, the middle package with the multiplier would be 1200. But now we've added this relative price add, which means that middle package would now be 1700 instead.

The advanced package which would have been 1400 is now going to be 2400 if you're using these two together. Okay, I do see the chat box moving a little bit over on my left hand side. I am going to check the chat box at the end of each sort of section before I move on to another page. So kind of at the end of this pricing parameters section, I will check for questions before I move on. So don't. I do see it moving out of the corner of my eye. It's over on another monitor. But I'm not ignoring your questions. I will come to them soon. So the next two fields that we're going to look at here that I just want to show to you is the rounding on and the rounding amounts. I'm briefly mentioning these today. I did briefly mention them as well in another session. But it is a more advanced aspect of the software. It's not essential when you're getting your software up and running. So I'm going to leave those turned off for now. We're going to skip over those today. The other part that I do want to mention today though is this period spread over section. And so what this is when we reveal the price because remember, the software works with annual prices. It's going to break this down into whatever period you want. For example, if you wanted to reveal one price, put a one in here and that means it's one flat rate price. So if it's 12,000 for the year, it's going to reveal the price as 12,000. But let's say you do want to do monthly billing, then you would leave it as 12 in here. Another way you can do this is the cleanup job that you're doing or maybe a cloud accounting system set up. So it's not going to be split over 12 months. It's not going to be something that you work on for the whole year, but it is something that's going to take you three or four months. So you could change these to threes or fours or whatever. And basically what that's going to do is take the total price that gets calculated and when it reveals it, it's going to chunk it down. We've talked about that concept before. We always want to make the price appear as small as possible. I have different models. One called Clay cleanup short cleanup big or clean up small or clean up big. One that's a cleanup three months or less. The other six months or less. I Have two different models. One has three months options in here and the other one has six. But for today and for most of us, we would typically leave these at 12. Like, especially if it's a obviously a monthly recurring revenue type model. Next we're going to look at the display options. So this section is where you're going to determine which packages are going to display on the final screen. So the software does give us the option to use five packages. Like we've talked about in all kinds of training, we typically use three. So I have the last column and the first column marked as hidden, which means they are not going to show when I reveal the price. If you were using only this basic or essential column because you only need to reveal one price, then you would change both of these to hide as well. Okay, reveal gives you, you saw in the drop down here. Reveal gives you the option to reveal an extra package if you choose. These three packages that say show will reveal automatically. But let's say you're revealing the price to all your clients and they're all too much. And you've gone back and you reviewed some of the questions and you just can't get to a price. Maybe you've gone into your behavior rewards and they keep saying it's too much, it's too much, I can't afford that. You want to work with this client, you could have this light package and again, you can rename it to whatever you want to do. You can see here the multiplier is now going to say whatever their base price is. Based on the calculations, it's going to multiply that down. So it's going to take 25% off of the price. And this will not show automatically when you're revealing the prices, but it will reveal if you want it to if you toggle on it at the end. Okay.

And then here we have our order of reveal. Not too important for the essential setup. But it's basically if you want to reveal your prices in a specific order or all at once. The thing I love and that I do see a lot of people use is this most popular button which allows you to pick one of your packages and a little tiny most popular message will appear with that package when you reveal them. Lots of people choose to use that with their middle package. I of course use it on my premium package. And who knows, maybe that's why everybody so far has chosen my premium package. But it's also my ideal client. My, my premium package is I do everything they're allowed to look at their Books, but they're not allowed to touch them. And that's the control freak in me. I like to do everything. I don't want them messing stuff up. So I do everything I can in my sales process, meetings, conversations, everything. I'm always driving them subconsciously with my wording phrases and my communications and my brochure. Everything is always driving them the whole way towards my premium package. So that when it gets to this point and I'm revealing it, it seems natural for them to pick and for me to say that most popular. So again, we always want to hit save and continue. I'm now going to pop over to the chat box and look for questions. Stephanie says the icon in the package names, was it the same for each package or was each package icon? Oh, it was the same in each package because it was a mini version of their logo. So if Mark was doing this, it would be like this effective pricing logo they had. If your package names are gold, silver, bronze, you might want to put a little gold, silver, bronze bar. It's new to me. I had never seen it before until a couple of days ago, so I haven't had a chance to experiment with it yet. I just thought it was cute. And you know, I've been using the software a number of years now and I've never seen that, so I don't know where they got the idea. And then you've also asked, what is your most effective way to research bookkeeping rates in the prospects area? I see a couple people answered that. ChatGPT? Yes. Really? Google Indeed.com. it doesn't have to be exact, Just an idea. Are you saying that when setting up our model, when we do a review, the price is the base price only and will never reflect the other package? No, that's not what I'm saying. I'm going to put that question on hold, Stephanie, because I think it'll come together when we get to the review page. When we get to the review page, I'm going to talk about it again and I think it'll explain it a bit better there. Clarita asks, can a cleanup be put here as a package or those are done separately? Can the cleanup big and small models be available? So depending on the package of the software that you have, there is a cleanup model provided for us which you can use to edit. I used that one initially to edit and made a copy. My model is pretty much the same for both big and small, except for the number of months that it's spread over. But as far as the number of questions, the types of questions, the calculations of the questions, etc. The models themselves are almost identical. Thank you, Michael, for jumping in and letting her know. There's that template as well. I should have read your answer first. Clarita, you don't want want to quote cleanup with any monthly recurring model? Cleanup should always be priced separately. Stephanie asks order of reveal. And thanks guys for putting these art parts in. When I'm covering a few things in one section, it helps me trigger exactly what your question is about. When I reveal the price, even though I have them set in order, the prices are all revealed at the same time. What setting do I need to check to correct that? Stephanie, I'm going to table that question until we get to the end page and then we'll come back to that. If I forget your question, just remind me, okay? All right, let's go on.

Now. We're going to talk about setting up our packages. So I'm going to pop back over into the software in just a moment. We're looking at key points to get up and running right away, using your own text, keeping it short, options to customize how the packages appear. Can I get a show of hands or a thumbs up in the chat? How many have packages prepared already, whether on paper, in Excel or in the software? Just let me know if you have a set of packages already that you. I'm going to show you how to click and drag the components into the order you like. Let's pop back over into the software. I am going to open my window a little bit. It's feeling a little warm. Okay, so now we are going to go to our packages page. So this is what I'm asking. If everybody kind of has so far, you know, name it what you will, but do you have a list of services that you offer and really break it down. Don't just say monthly bookkeeping. There's probably a hundred things involved when setting up your packages. Break it down and list every little thing separately. Then pick and choose what package you want to include them in. So let's take a look at this and how to move it around. I'm seeing lots of thumbs up that people have it. Stephanie, I see your notes that you have packaged, but you're constantly changing them according to the prospect's needs. I'm going to do a little test to that. You want to set your packages okay. Don't customize your packages according to your client. Set your packages according according to your business. If you want to have different packages for a different niche or model. Set up a different pricing model for that and name it. Like one of my niches is veterinarian, so I have a model bookkeeping veterinarians. One of my other niches is massage therapists, so I have a model bookkeeping massage therapists. And I may have different packages obviously for those. But if I'm pricing a veterinary clinic and I'm pricing another veterinary clinic, I do not change my packages for two clients in the same niche. Okay.

So you may like, like Lynn has said to you, if you're just starting out and just getting your packages created and you may not really know what your clients need, it will evolve over time. Mine did a lot in the beginning. But you really do want to get to a spot where your packages stay the same for each niche. I'm glad you weren't offended by my Tisk Tisk disc. Let's look at packages. Coming back from the course in Mexico, I was by myself pretty much the whole time for a month. So I didn't really talk to people very much. This section is easy to modify in the template models that Mark provides. Just like the questions were. In this top right hand corner we have this. Add a component where I can say test.

And I'll just say save and then I'll show you. That component is now added here. You can type in tooltip about it. Let me say tooltip info and then I'll show you what that does. That puts the little tooltip icon beside it. When I hover my mouse over it, that tooltip will show up by default. It is included in all the packages. Super, Gold, Silver, Bronze and light. Let's say I'm not using light and super so I want it excluded there. It's not part of my bronze package, so it's excluded there. It is going to be part of my silver package. Sorry, let me select a couple of different examples for you. You see, we have options where it says free N A and text.

Let me just save this and show you. This is the text field where you can type anything. Let's say you have a financial review meeting. In my premium package, it's monthly. In my silver package, it's quarterly. And in my basics passage, it's annually.

I will save that and those words will show up in my packages for them. Then we of course had the free option that you see. If you select that, it shows the word free. I use software, QBO and Dex with all my packages. You can use the word free or you can use the text word and put, included or complimentary or ways to make it sound nice. And then we have this NA field that puts a dash through the column. I can move this around if I want. Let's say I wanted whatever item I just added. My screen isn't scrolling. Let's say I wanted that right at the top. I can just click the little chevron and move it around. Maybe I've changed my mind. I don't want it at all. I can delete it. So much like the questions page, we can do a lot of customization in here. People have different ways of how they like this. To display. I like to have as many of my check marks as possible. I display my packages from left to right with my premium package first. I like to have as many of the check marks as possible up at the top of the page. So this is a test model that I've played around with a little bit, but this one would normally be included as well. So then I would move or I would not include it here. It looks more aesthetic. It's easier to follow when you're going through this with a client. And again, when I'm going through this in front of a client, I do this. I spend most of my time really focusing on the premium package. So again, I'm going to hit save and continue and then I'll come back to this page and I'm going to come check for questions including software and packages. What if they have their own software subscriptions? How do you handle that? For me, it is mandatory for my clients to use QBO and Dext if they already have subscriptions. They can keep them if they want. I do offer them the option of transferring the billing to me because obviously, why should they pay for it if it's included with my packages anyway? Because I'm not going to deduct anything from my price just because they tell me they don't need the software. If I'm including. If your package comes up to $1,000 a month and the software is included and you tell me, oh, I'm sorry, I have the software already, can I get a lower price? My answer is going to be no. My price is still $1,000 a month. I'm giving the software complimentary. If you want it. If you already have it, that's your decision. I get a wholesale rate on it. So why would the customer want to pay on their own? If I can pay for it with my wholesale rate and it's included in what they pay me? When you're buying a package and you're buying a package if you go to buy a car nowadays, I don't know if you can even buy a car with roll down windows anymore. Power windows, power locks and AC are standard features on just about every car. If you go into a dealership and say you want to buy a car without power windows, they're going to be like, sorry, can't do that. It comes off the line with power windows. We're not going to do a manual build of this vehicle for you without the power windows. Package is a package. Christina says you include QBO subscription, but some clients need a different subscription. Do you mean a different level of QBO subscription or do you mean an actual different program? If they need a different level of qbo, I include the highest level. I don't include QBO Advanced. I don't know what they call it nowadays. It used to be premium, might still still be premium. I, I include. So they have four levels now that they added advanced. I always include the premium level because it makes my life easier for the reporting that I want to be able to do for the insight that I give to them. So if they are on the light or essential QBO subscription, I would upgrade them to the premium version. That's what I include with my my packages. If they were on the light or essential version, I would tell them they need to upgrade to premium because that's what I require to do my job. They would likely say, okay, we'll let you pay for it at your wholesale rate. I hope that answers your question. I'm conscious we only have a half hour left. Let's go to our next section. Behavior Rewards. I'm going to skip the tips. You're going to get the slide. Let me jump into the software. Behavior Rewards. I want to show you how this appears to a customer because questions about revealing the price at the end. So I'm conscious of that. I want to save some time at the end if we can to look at the customer's view of how this appears because right now we're looking at our view which is a little bit different. Right. So if, if we don't get to that point today, it's definitely will be part of our next training but I want to make sure we everything set up today. The rewards section, Behavior Rewards on the left is where we can set up a discount. We don't really like to use that word but you definitely want to make sure that it's where you're getting something in return for the discount that you're giving them. It has to benefit you. I mentioned this in the one on one session earlier this week, some samples are Will you scan all of your purchase invoices with receipt banks? One of my questions is will they have everything sent to me by the 5th of the month? Which allows me to plan my schedule of when I'm going to work on each person's file and when I'm going to be able to schedule my monthly meetings with the people that have monthly and stuff. You know, we all kind of live by our calendars and schedule things and stuff. So if they are late so sending me documents, it screws up my schedule. If they have everything to me by the 5th and I will give them a behavior reward. You want to think of this as something that's going to make your life easier, save you time. If you're using a tool like Dext or Hub Doc and have bank feeds turned on, things just automatically happen for us. Those save us time and are worth paying the software prices for, right? But my client is still paying me the same price even though I'm using those softwares. And I can now publish a document in 15 or 30 seconds. I don't auto publish anything, by the way, for my firm. I just don't. I don't trust. I want to eyeball everything or my team eyeballs everything. So all eyeball stuff, make sure it's going to the correct account, make sure there's no cigarettes on a gas receipt or something and then I publish it and it takes 15 seconds. Maybe in the old way, before I was using software like that, I would have to do a manual entry and the date and the time, extract the tax and attach the PDF and everything. It would take me maybe a minute. So you know it 40. So I'm saving 45 seconds. Doing that a couple hundred times a day, every day of the week or every day of the month or whatever. It definitely adds up. But my client is still paying me the same price. They don't necessarily need to know that those tools are saving me time and saving me money. And this is where you know, understanding the difference between hourly billing and value pricing and using these tools that speed up our service, but not taking it off what the client pays. Let me edit this example. Will you scan all of your purchase invoices? This is similar to other sections we've looked at. You can click and drag sections, delete a section, add your own rewards. So one of mine that I was talking about is will you send all of your documents by the 5th of the month? You have an option here of displaying it As a tooltip or a description.

I'll type test so you can see what it looks like. Here you have options where you can subtract an absolute value or you can subtract a percentage. So I like to say if they're sending me their documents by the 5th of every month, I will subtract 2%. You can edit questions, you can add questions. You can add a reward, you can add a section. So you might have just like sections in our questions. You might have behavior rewards related to different categories or sections. You might have a section related to sending documents on time or keeping foreign expenses on a credit card. And then you might have the other one that's referring us to three other businesses just like you paying your invoice in advance. So you might have a couple of different sections. It's available. I don't use it. I don't typically like more than three or four behavior rewards. It depends on how complex my model is to begin with. Whichever model I'm using. If it's a pretty simple model, I wouldn't have more than a couple behavior rewards. If it's a more complex one, I might have four, maybe five. That would be pushing it for me. So we are going, like I said, I'm going to hit save and continue and jump over to questions. When we look at this in person, it doesn't show on our screen here when we reveal this to a client. As you can tell when we're hitting save and continue, it's jumping to the next screen. It's jumping to the next screen. This rewards page does not automatically appear to a client. It appears as a tiny square button in the top right corner that says br. And no client is ever going to think to ask, what does BR mean? If it was a button that said discount, they would be like, hey, what does that discount button mean? But when it says br, they don't pay attention. So this is something you can use if you choose to let me jump over. You can also add behavior rewards on the spot. Sorry, I forgot to mention this and it came up in the session I did with somebody earlier. You can add behavior rewards on the spot with a specific client when you're revealing price to them. It's a little bit clunky to do that. Obviously you're doing it in front of them. They can see what you're doing. But you might want to do that if in conversation during the price, there's a specific situation that you want to add a reward for that client for that exact situation. And it's not going to change your entire model template. It would change for only that specific, specific quote that you were doing. Okay, so let me jump to.

Questions.

How do you incorporate optional items? Lorita I think your question was related to packages. I see Michael has answered it already. And yes, I would agree with Michael's answer as well. It is something we're going to look at later in the year. Or like he said, you can watch some videos if you're an academy member, they're in the library. If not, they're on YouTube.

Stephanie says, for your non profit client, I've had to print out the packages and parameters so they could take it to their board. There's actually a section, Stephanie, where we're going. I think it's next month's session. I'd have to look at the schedule where we're going to be talking about how to print stuff in a nice pretty version. And then you've also said regarding the behavior rewards, what do you do if you've given them a behavior reward and down the road they haven't come through? I take it away in my service agreement. It has their actual price without the behavior reward and then it states what the behavior reward is and the discount they're getting. If they don't follow through on the reward, I take it away and revert back to their initial price. I see there's a bit of chat here. I see that a couple people have said similar things. It depends on the severity. If it's something like sending documents by the fifth of every month and they're sending it by the sixth or seventh, not a big deal. I'm not going to worry if they're not sending it until the 10th or 15th. If it happens one month, no problem. I'm not going to say anything. Even two months. I'm not going to say anything. But if it happens a couple months or into a third month in a row, then I would talk to them. Maybe there's something going on in their life. I would talk to them and say, remember we had this agreement. It's challenging for me to keep the schedule I promised. When you deliver documents late, it's disruptive to my schedule. I need you to help me do my job as best as I can. All right, not seeing any more questions. Let's move on to enhancements. I'm going to skip the slide and jump back into the software. You will get this tooltip section with the handouts. Enhancements are on the left, similar to the rewards page. You can add drag, edit, delete, Them you can add sections. I'm not going to spend too much time on this page because it is so similar. It's very. For me, it's a lot like the other parts of my model. I keep it simple with yes or no questions and flat amounts that are added on. Something that's different about the behavior rewards though is that it is similar to our questions. So we now have our four question types and we have all of our calculation types. So you would remember this from last month's session. It's similar to the questions part of our model. Keep in mind these are annual numbers. So if it's a monthly add on of $100 a month, so if this is a yes or no R model, keep in mind these are annual numbers. So if it's a monthly add on of $100 a month, so if this is a yes or no question that you're doing and it's a hundred dollars a month you want to receive, if they say yes to this enhancement, it's 1200 by default. I leave all enhancements as a no value because I don't want it to automatically add it on to the price.

One of the key differences that I do want to point out is that let's say and this really comes with getting to know your customers and what they want and how your packages are lined up. So let's say we're looking at these. I'm just going to jump back over to packages for a minute. Let's say we're looking at this bronze level package and it does not include completion of sales tax returns or an annual business review. I know almost all of my clients want those things. I would then go and add it into my enhancements section. So what I typically do is my base level package. I pick a couple of things from my middle package that I know people usually want. But if they pick my base package then I can offer those them those things as an enhancement. And the same thing with my middle package, I will pick a couple of things that are in my premium package that I know that most people usually want and then I can offer that as an enhancement if they pick my middle package.

In my premium package, I add enhancements where the sky's the limit. When you click on edit for an entire section, this is where you can choose these popular add ons. Sales tax returns was one of them. When you edit the section, this is where you can say whether you want those enhancements to appear. So because I'm not using my super and my light, I'm going to uncheck those automatically because those services are already included in my gold package. I don't want those enhancement questions to show up when somebody selects my gold package. I only want them to show up if they select my bronze package. So I can go in here and say that this section of questions is only going to show up if somebody chooses my bronze package. Then I can create another section of questions and I can say this one is only going to show up if somebody chooses my silver level of packages. So that's another way that you can utilize the sections in here. If you don't want to break them up into sort of different categories or whatever, you can use them that they only appear based on whichever choice the customer has selected.

Okay, so I'm going to hit save and continue. Now. We are at the review page. When you get to the review, this is where you can troubleshoot. I want to intentionally try and break the model. You can select some answers by random. Let's say this person has 51 to 100 sales invoices, a professional service business registered for sales tax, two bank accounts, one credit card. I'm not going to change too many things when I hit calculate. Remember I told you about my get out of bed price set up as my base price. So no matter what, when I am starting a quote for a client before I even ask them a single question, it adds $500 right away. You can see the price building. As I'm scrolling down, I'm looking at questions. And now we get to the end. This is where I want to come back to somebody's question earlier, I think it was Stephanie or Clarita. It was about the packages and the price for the base package and multipliers. The total price calculated based on how they answered the questions is $4,900. I'm just going to round up to 5,000. It's easier to say, so let's pretend this says $5,000. That is my base price, no matter what. That is the minimum level price based on the questions that they answered. However, if you remember in the pricing parameters page, I said that I wanted my bronze package to be 6,000. So they've answered the questions and the answers are going to be 4900. And I get messages telling me that some minimum prices have been reached and that's why these prices are showing even though their price is 4900. In my basic package, I'm doing in that package. I am not willing to do that work for less than $6,000 a year. My silver package, not less than $8,000 a year. And my gold level package, I said at 10,000. That is why, even though they've answered the questions and it came up to 4,900, that is why it is showing these prices as 6,000, 8,000 and 10,000. Let me change a couple of questions to make the price higher. I'm just doing a couple of silly things to make the price higher. All right. And so now I'm going to calculate again. You can see that made a pretty big jump. And now the total price is 14,374. So that now becomes my base price. Based on how they've answered the questions.

I put a maximum price in my basic level package of 8,000. I said, for the work I am offering, I do not want a price revealed more than $8,000. So it's going to show me this $8,000 limit. That's why I keep my limits very high. They've answered the questions that it should cost them $14,000 a year. I don't want to lose $6,000. I usually leave my maximum prices high, but it depends on what works for you. The person I met with did not want her basic package to have a high price. At the end, we have my silver level package and my gold level package. My base price is 14,000. So you might be asking, well, why is my silver and my gold price coming up as 17,000 and 21,000? This is where those multipliers come in. So. So they've answered the question and their annual price is $14,000 based on the work that they want me to do. All this work, this invoices, yes, there's sales tax filing. All of that work is going to work out to $14,000 a year based on the calculations that I've put in. And remember, I've already worked profit into those calculations. And so, guys, this is where the software becomes so powerful to get huge increases in your profit. Remember, I put those multipliers in, played around with them. I don't remember if I left them at 1.2 or 1.3. And I'm not going to do math in my head. What it's going to do with those multipliers is take this 14,000 and whatever multiplier I put in for my middle level package, let's say it's that looks like 20% probably, maybe let's say it was 1.2. It is going to add 20% onto the base prices. Their price is already $14,000 a year based on what they've told me they want me to do their price is 14,000, but now they're choosing my middle package. Because on that package screen, they're like, oh, I want this, I want that. It's not costing me anything extra because I've already got the 14,000 from them. So that extra 20% or 40% for my gold package, based on them just seeing my package and being like, oh, yeah, I want that, I'm going to pick that package. That extra 20 or 40 is gravy. It goes straight into your profits because you're already covering your expenses. You're already making your base profit profit in this 14,000. Everything above that 14,000 is profit. Now, if they choose your middle or premium package, it's profit plus 20% or 40%. This is where the software really multiplies revenue, and you'll start to see phenomenal results. So I hope that answered the question that you had before. I know we've only got about five minutes left left, and I want to do a couple of things here still.

So if everything looks good, you've calculated, tested, everything looks good. If you were to be calculating this and looking and all of a sudden it says zero, that would be a problem with your model. So let's look at how that looks. So I'm just going to quickly hit save and continue for a minute. Going to go back in here. And now let's.

Troubleshoot again. You're going to get the slide. So let me spend our time in the software. So. And I'm going to jump back to the review page.

I've jumped to the review page. I want to quickly try and break the model. So one of the things that could happen is when you get to the bottom. Let me calculate. When you get to the bottom, your price is the same for all three of your packages. What you need to do there is go back and look at your pricing parameters and check your minimum and maximum prices. It could be that maybe you have them all set to the same or you don't have them set with the correct amount of space in between them. So that's problem one that you might see. So I'm going to force an error right now. I'm going to change my maximum price intentionally. Really low. Say, hit save and continue. I'll go back to review, hit, calculate.

Did I hit save and continue there. Sorry. Save and continue save. Okay, I'm rushing here, and I'm obviously doing something wrong. What should be happening is I should be getting a message saying the maximum price had been reached. Because I changed my maximum price to 1500 and the price is coming up as 3900. You might see all the prices show One thing is 1500. So anytime you're seeing that all your prices are the same or not appearing right, check your minimum maximum prices. Another thing you want to do on this review page is test some different combinations of the answers. So I would test at least once each question. So if I change this to no and hit calculate, it doesn't change anything because if their bookkeeping isn't up to date, I'm going to do a separate pricing model for them. But you would want to go through and change each of your questions.

And hit the calculate button and just make sure that your math and your formulas keep adding. Next time we'll look at what happens if one changes to zero, what that means and how to fix it. Basically, there's a math error if it resets to zero and starts calculating over again. It's probably a multiply type question set to multiply by zero, which equals zero. So that could be one of the problems. Thank you for coming. I hope it was helpful. Bye.