Effective Pricing with Kimme Lafayette: Crafting Compelling Quotes for Clients

So today we are talking about crafting compelling quotes for clients and we're going to be going through it as a step by step guide. When you first log in to effective pricing, you will be on this home screen and everybody's home screen may look a little bit different. Yours may come up with a checklist of tasks that you have to complete. That's actually an onboarding checklist. Once you have completed each of those steps, you'll see the same homepage that I'm on now. And you can easily complete each of those tasks using a test model as well. You don't have to complete it with a real client. So if you want to just practice, it's things like setting up your first model and doing your first quote and setting up your first proposal, you can do all of those with a test client and it will check off those items on your checklist and then you will just be at your normal home screen. So what's also different on your home screen is if you don't have any models, excuse me, that are in live mode, they won't show up here. So, for example, if I go into my model management and I change that back to draft mode and go back to my home screen, you'll see that pricing model is no longer showing on my home page. So everybody might have slightly different views here. Again, remember, it is a very customizable program according to what you want. To get to your home screen, you're just clicking on the logo in the top left hand corner. So to do a quote, we're going to start looking at doing a quote. There's different ways that you can access your model. So let's say we had a few different models here. This is a bookkeeping model. You might have a payroll model, you might have a sales tax model. You could have different kinds of models. So right from this page, you can click on the use model button. You can also use these icons over on the left hand menu. And if you don't remember what the icons stand for, you can click on the little hamburger button and it opens up a menu that tells you what the icons are. And those icons we pick when we're setting up a model. Normally, my bookkeeping model I have set up as a little picture of a book, and I know that is my bookkeeping model. But for whatever reason, when we were playing around with it that day, I chose a dog. So when you click any one of those methods, if I were to click here or click on use model, it will bring me to this screen. So Here is our left hand menu which we've looked at before. But this is the beginning stage of a quote for a client. You can do this part in front of a client. However, I don't prefer to. And the reason being is let's say an existing client that you're doing a repricing meeting with or you're upselling them or something. If you had a lot of clients in your drop down list, they would see if you were sharing your screen with them at this point. Because now we're in what the client sees, not our behind the scenes view. Right. So, so they would be able to see the same as if you were searching if you were typing in if they were a brand new client and you were typing in a new client. I don't like to do all of this part in front of a client. So what I typically do if I'm pricing somebody for the first time and just bear with me for a minute, it seems to be thinking I would click on my new client button. Just going to give that a minute to stop thinking. And then there's. You'll see quite a few fields in here. You'll see another tab about keywords. We're going to talk about those in a later session. You don't have to fill in all of this information. The only one that's actually mandatory is the name field. So one of my dog's names is Karma. I'm going to stick with my dog theme today and I'm going to say my client's name is Karma Morki. She's a Morkie. And then I will hit save. I can then choose from my drop down whether it's a brand new client that's a prospect or whether it's an existing client that maybe I'm repricing or doing some upselling with for a new service that they want. And then the date of the quote, I can go in and manually change this date if I want. Typically I'm setting this. It only takes a couple of minutes to do this. I'm typically doing it right before my meeting starts. So I usually just leave that the same as my meeting date. Then I click save and continue. And it is at this point where I would start screen sharing with my clients so they don't see me doing that little setup phase ahead of time. The other thing that I do because remember one of my steps is that I do a diagnostic review. So a lot of my questions that I have on this first page are things that I will have been able to tell from the diagnostic review. There's things that I know about this client and their business already that I will go ahead and I will, when I'm doing the setup, before I start screen sharing with them, I will pre answer some of the questions ahead of them. So I will already know is their bookkeeping up to date, yes or no? I'll already know that they have over 120 sales invoices a month. I'll already know. So a lot of these questions, I will pre populate the answers. But I tell them that I've done that and I tell them by all means that they can, they're welcome to change any answer they want. So I still go through the questions with them. But I'll just say, you know, I was able to determine from the diagnostic review some of this information for you already. So to save a little bit of time today and be able to delve into the benefits that we can bring to you, I wanted to pre answer some of those questions and spend a little more time focusing on your needs on the next section, which is our value priced questions. Our value questions. I said but if you want to change anything, I said we'll review the questions but if you want to change anything, just let me know and we will. I may have been able to tell from their diagnostic review that they have over 120 sales invoices a month. But perhaps they know that something is changing in their business next month and this number is going to change. Maybe it's going to go up to over 500. Over 500 sales invoices a month. So they may say, you know what, Kim? Yes, right Now I'm doing 120 sales invoices a month. But we've been running this huge campaign and we've got a lot of pre sales that are going to start next month and we anticipate that our business is going to be doing this many. Can we calculate the price based on that? And I'll say absolutely. Thanks for sharing that information with me. That's great that you have this new campaign running. Let's go ahead and change that for you so we can give you an accurate price based on what your business will look like and how it's performing next month. So you'll see we have on our left hand menu we have three sections because you can set these up yourself. But I have the about your business, other things you might want and then HR and payroll. You can toggle back and forth between these sections if you want. I do recommend in the beginning when you're Going through the questions to do go through them with the client client in order make sure you're answering everything and also make sure that you're using that save and continue button at the bottom. Behind the scenes, there's certain defaults that we can put in for a question. So if you're toggling around here and skipping questions that may not get answered, that could impact your price at the end because you would have set up a default price for already in your settings. Once we get to the end and you reveal your price and the customer maybe wants to go back and change some of their answers, you can easily do that. You can easily toggle back and forth. You will however, notice that it doesn't let me toggle. I'm clicking. You might not be able to hear my mouse, but I'm clicking on the fixed price button. It does not let me toggle to any of these other other sections until I have finished answering all the questions. On the last question about HR and payroll, when I hit save and continue, it will automatically go to fixed price. And from that point forward I can toggle back and forth. But until I have finished answering all the questions, it will not let me toggle to fixed price or enhancements. So you may recall from the previous session, and I did mention it a little, just a little bit earlier too, there's four types of questions. We have three of them here on this model. We have a simple yes or no, we have a drop down, we have a couple of drop down questions and then we have a number or value type question. So this would be an example here. Another one that gets used very commonly is how many active bank accounts do you have? And we would type in a number. An example of the fourth one that we don't have an example of in this model is the free text question. Those are the ones that don't have any impact on the price. But it's still important or could be important for your information if you. Because it can carry over into your proposal. That's a couple lessons from now when we look at how this information moves to the proposal automatically. But you might have a free text question asking how did you hear about us? And you could type in Google or referred by Mary or whatever. And that free text information will then carry over to your proposal if you want it to, where you could have some wording along the lines that says I'm so glad that you were referred to us by Mary. So there's a lot of automation that can happen for you here if you're currently doing your service agreements in a program like Word and copying and changing stuff every time. This will save you so much time. You'll also see some of the little tool tips that we can set up with our questions. So I did show you in the background of how to set up the tooltips. This is how it actually appears in front of the client. So there would be the little circle with the I in it and when you hover over brings up what it is that you want to do. So this is really helpful if you're not the only person in your organization that's doing pricing meetings, but you want to make sure that the other person or people that are doing pricing meetings, perhaps each salesperson does their own pricing meetings. You want to make sure that they understand what the question is or that they remember to prompt the client to ask them something specific. But you don't want to type in a really long question. That's a great way to do it. With any of your questions. You can still stipulate if you want it to have a default answer selected already. So, so in these dropdowns you'll see there's an option that says please select. That could be your default answer. If you don't want it to default to something else, you could have it default to please select, which then forces you to make a change for that question. You might know that your ideal client is going to have sales invoices for sure. I mean, what business isn't going to have sales invoices? So you could say that your niche client is somebody that has a lot of sales invoices. So you could say that you want your default answer to be that they're in the 380 to 590 range of sales invoices. But if they're not, you still have control to change that as your default answer. If you have a niche industry that you like, professional service businesses, you could make that your default answer. And then if it does so happen that you're pricing somebody that's in a different industry, you can change it. And you can see that if you leave it as please select, it does give you this little pop up message that it is a required field. So you do have to choose something. This first section of questions the about your business is typically stuff that I've been able to find out during my diagnostic review already. And I will have pre answered majority of the questions on this page already. And I just tell them, you know, I'm just doing this to save you a bit of time. So really, we can really spend more time focusing on the needs of your business rather than the compliance. These are the compliance type questions, not the scope questions that we would ask or the preference questions that we would ask next. So I'm just going to select a couple of answers here and I'll say they have two bank accounts, one credit card. They do want payroll journals, postings. Okay. And again, I'm remembering to hit my save and continue. So now I'm in the other things you might want section. And these are really the preference type questions. And the other sections after this as well. This is where you're really going to be able to start to drive your price. Obviously, your compliance questions on the first page will drive your price as well. But this is where you're really going to start to notice the value aspect of value pricing. Come in. Because on this first page you might have two clients, you might have two clients with very similar businesses. And all of their answers are almost identical on this first page. Going into the preference questions on the next section and any other sections that you have after, that's where they're going to really start to notice a breakout in the price that two different clients are willing to pay. So one client might say, yes, they want us to do their payroll, so then they're going to have a higher price. The other client might say, no, we're going to do our own payroll, or we already outsource our payroll to ADP or somebody. So maybe they don't want us to do that. Do you want us to scan your records? So maybe they have everything in paper. And I know a lot of us nowadays work with digital documents. They may want to just mail or drop off the proverbial shoebox of paper for you. We of course want it in digital format. So this is a service that we can offer that we will scan their documents for them. I'll say, you know, have you ever tried reading a receipt when it's been crumpled up and gotten wet and sweaty and it's four or five years old? And that's when CRA might come. Sorry for anyone else in the world. CRA is our governing body here in Canada. Stuff for tax legislation. And I may say, you know, they have up to seven years to come look at your records. If you can't provide a legible record that's easy for them to read, they're probably not going to let you claim whatever that expense or was. And by having digital records, this helps me make your books as audit proof as possible. To the best of My ability. The other thing that's great about scanning records is you can typically find anything within a few seconds. It's usually attached in whatever software program you're using, whether that's QBO or Xero or something, or it's in DAX or Hubdoc or you know, some sort of digital filing system that you have, as opposed to needing to go to a proverbial filing cabinet or filing box that's labeled with the date range that it's for and sorting through a bunch of paper to find it having digital records. So I will explain that to them. I will explain that it's a service that I offer. It's actually a requirement for my clients to do digital. But if they want me to scan everything for them, sure, I'll do that. They don't have to do it, but I'm going to charge them if they don't. So again, it's where you might have somebody say, you know what, I don't have time to do scanning. I'm just going to send everything to you. You can scan it for me. Yes, I really like the idea of being audit proof, so on and so forth. And so then I'm going to charge for that. Right. Do you want us to reconcile your bank accounts? They have two bank accounts, so I'm going to say yes for that. Again, I'm hitting my save and continue button. It's really important because if you answer questions and then you just toggle to the next section instead of hitting that save and continue button, you're not going to get an actual or accurate price reflection at the end. And then HR and payroll. Again, this is a test model, so I think in a previous session I may have deleted some questions that I had in here when I was showing you how to delete questions. Normally I would have more questions in here, like what frequency is your payroll? Do you have subcontractors? Do you have commission based employees? How many employees do you have? Do you do bonuses? Do you have vehicle allowances or anything like that? Like, I would have more questions in my HR and payroll section. Okay, so now I'm done. So now I'm done all of the questions, right? And so that will now bring me to my fixed price page. When I arrive on this page, you're going to notice a few things. You're going to notice that there aren't any prices here yet. This is a good thing at this point. And it's also part of the reason why I like to save some time by pre answering some of those Scope based questions because it leaves me more time to spend on this page going through my packages. And we did talk in a previous session about how to set up your packages, how to do your gold, silver and bronze, how to do your little tool tips, how to put this little most popular message in Some people put it on their middle package. I personally put it on my gold package. And knock on wood, to date every client I've used effective pricing with has chosen my gold package. I will happily share with you throughout this course the reasons why I think they do that. I don't think it's the simply the most popular message. I think there's a couple things I do. But I showed you how to put check marks and X's in how to put a free text field in. If it could be whatever word you want it to say, it could say A or included. And there's also another option which I obviously deleted when we were playing around with this model where it just puts a dash line mark in in. So when I get to this page, there's no prices revealed here yet. I go through these packages and I start with my bronze package and I explain what's included with that and then I move on to my gold package and I talk about the things that are included with my gold package. And so this is one of the other things that I do that I think helps people gravitate towards my gold package, if you will. I use and I love to share this tip with people because I really do in my heart believe this is what helps people want to work with me and want to choose my gold package. But I get excited when I talk about my gold package. So when I'm explaining my packages, when I'm talking about my bronze package, I'm just using my regular tone of voice. My facial expressions are kind of neutral, just normal face resting face. And then when I start to talk about my silver package, the tone of my voice might speed up a little bit. I'll start to have a little bit more facial expressions. Then when I talk about my gold package, I get really excited and my voice goes up and there's intonations and I start talking with my hands. You can physically see, see the excitement that I feel when I'm telling somebody about my gold package. And I truly guys, I truly honestly believe that transfers over to them. It may feel a little weird when you're doing it. It may feel a little silly, you know that you're feeling really animated or stuff. Trust me, it doesn't come across as emphasized as what you may think it does and you can record yourself. I did this several times. I recorded myself. I did some rehearsal sessions. I picked another person that was in the value pricing academy and I said, hey, can you do some role play with me and give me some feedback? So this is all part of what took me some time to get the software set up to use it the first time. So I have zero scientific proof. That's the reason why people choose my gold package. It's just my belief and I've actually had people say that they would be more than happy to choose my gold package. Even though it's my most expensive package. We would be more than happy to choose your gold package. So I get excited about things like that and I think it helps my clients get excited about it as well. I think it's maybe part of the price psychology, but like I said, I don't have proof. But anyways, after I had finished going through and reviewing all of my packages before I reveal any prices. Okay, so this is really important. Before you reveal a price, ask the customer which package they think works best for their needs. After explaining it to them, what are they leaning towards when they pick the package that they want? So I'm going to pretend that they've selected my silver package. I'm going to click on it once and you can see it now highlights that column. At this point, if I don't do anything else, it doesn't mean that the client is actually selecting that package already. It just means this is the one that they are leaning towards. So now I know that they are leaning towards my silver package. It's time to reveal the prices. First, you will come over here and you will click on this fixed price button. When you click that, you will see the prices show up for each package. This little 12 payments of wording is customizable. We talked about that in a previous session. This wording over here that says your small monthly investment is customizable, we talked about that as well. So you have different ways of wording how you want your price to reveal. One of two things is going to happen when you reveal this price. Either the customer is going to accept the price. I personally don't like that option because if they accept the price right away, it means you've left money on the table. The second thing that might happen is they're going to think it's a little expensive. They might hesitate, they might hum and haw. They might tell you, you know, that's a little over my budget. This is not a Bad thing. This is what we want to happen. So if this happens, the first thing that you would do is be like, okay, let's see how we can make this work within your budget. In the other things you may want, we talked about us scanning your records for you. If you were willing to scan your records for yourself, that would impact your price, and it may be within your budget. Do you want to try changing that answer to no? And then we can go back and look at what that's done, how that's reflected in your price. So I'll change that to no. I'm going to hit save and continue. But basically that would be the first thing that you would do. If they think the price is a little bit too high, you would go back to the questions and ask them, you know, is there anything that you would like to answer differently? And you would just keep going back and forth, hitting save and continue and revealing the new price each time until you reached a price that was in their budget. If you've gone back and forth through the questions and the customer is still hesitant about the price, remember that we have the behavior Rewards. So this is a discount. I don't recommend always using this, but let's say, say it's somebody that you really want to work with. They're perfect for you in every other way. Just your price is a little bit above your service. So we want to give them a discount. That button is called BR for Behavior Rewards. We don't label it as discount because if the customer saw the price and they were okay with the price right away, but they saw a button that said discount, they would be like, hey, what's that discount button? Can I get a discount? But when it says br, they don't know what that means. So we call it behavior Rewards. The other reason we call it that is because we're not giving a discount just for the sake of giving a discount. We are giving a discount for something that we are going to get in return. So the examples that we have in this model is, will you scan all of your purchase invoices with receipt bank? If they say yes to that, you can see down at the bottom of the screen that their price has gone down. Will you keep all overseas expenses on a credit card? If they say yes to that, the price goes down. Again, I typically would not have five behavior rewards in here. Again, this is, I want to emphasize, this is a test model that we've been playing around with in our previous sessions. So questions have been added and removed and changed. But scanning all of your purchase invoices with Dext is one that I typically do for sure. The overseas expenses on a credit card. I do that one as well. Referring us to three other businesses like you. I do. I have used that one in the past. I still have it on a couple of my models. What happens is. So what's been happening for me is when I ask them, will you refer us to three other businesses like yourself? If they say yes to that, it's going to decrease their price and that becomes their new monthly price. So I've been using it. But what I do is in my service agreement, I tell them your regular price is $125 a month. We have agreed on the following behavior rewards, where if you refer us to three other businesses like yourself, that will reduce your payment to $100 a month. And then I'll have wording in my service agreement of the timeline that I would like those referrals to be within. Normally I say about three months, like during the time that they're finished onboarding. In the event that I haven't received three referrals from them, I will let them know, hey, we agreed to this during your pricing process, but I haven't seen the referrals. Just a reminder, if you don't send the referrals, we will revert back to your originally quoted price of $125 a month. So I do put both prices in the service agreement and I stipulate what behavior rewards it is that they agreed to that has decreased their price. So that is how we would use behavior rewards. So let's say they said yes to something and then they still want our silver package for $160 a month. So this would be. If I hit save now, it is going to take me to. Oh, sorry. So right now it's set to default. You can get a nice one page PDF printout of that for them. You can also change in your settings how you want that to appear. So if you had other versions of how you wanted it to appear, they would be in a list here. So rather than it saying just default, you could select which format you wanted it to print in. And the other thing is the months. So let's say you want them to pay quarterly instead of monthly. You could change that to four, hit refresh and it now says for payments of instead of 12. Typically we do 12, but you can change it to whatever you want it to be. Okay, so those buttons are available as well in here, but when I hit save and continue here, the Next place that it takes me to on my left hand menu is this enhancements screen. So my price has carried over. They've selected my silver package at $106 a month. We gave them a behavior reward, so their price is now $106. We do have a couple of enhancements here that you can do. And you can break these up into sections as well on your setting. You can customize these. You can choose to have the title as the type of enhancement. You can choose to have a little statement below it. There's lots of things that you can do in here. You can see as well if they choose one, if they say, if I offer them an upsell. So enhancements are upsells. If I offer them an upsell of monthly accounts receivable analysis, cash flow and cash management report, and they say, oh yes, I would like to have that. You can see their price changes right away. So there's always calculations going on. And once you get to that fixed price page at the end and you've revealed the prices to your clients, they do see the price change reflected on their screen right away. You can also see that there is a button here that says additional option. You can create an enhancement on the spot with the customers. Perhaps they're really hesitating when choosing a package. So let's say they're choosing my silver package, but they really want to have a dedicated account manager. But that is only available with my gold package. When I'm in the enhancement section screen for them, I can be like, you know what? I really know that you wanted to have a dedicated account manager. And even though it's not available in the silver package that you've chosen, I can give you a dedicated account manager as an enhancement and then I can add it here as an option. The only part that's a little clunky is that you're now doing this right in front of the customer because you're sharing the screen with them. I mean, yes, they're going to see the difference in price anyway, but remember, we're talking about annual prices in here. So if I were to put an annual price of twelve hundred dollars, they're going to think what it's going to cost me twelve hundred dollars to have a dedicated account manager. But if I say yes to that, it only increases their monthly price by a hundred dollars a month. So they were previously at 206. I've now given them the option to have a dedicated account manager which adds $1,200 a year to their price. But it increases their monthly price of 300. So I do have the option to do it on the spot in front of a customer. If it's going to help you get more money, by all means do it. You want to create the anchor, you want to be like having a dedicated account manager will cost you a hundred dollars a month. Would you like me to add that as an additional option for you? And then when you're doing it on the screen in front of them, you've already created the anchor of a hundred dollars a month. When you put in $1200, you can explain that's an annual price and it's not going to cause them to freak out. Knowing having used the software and knowing my ideal client and knowing what my niche is, I typically know which enhancements they're going to want. And I know that dedicated account manager is one of them. I know that completion of financial statements is another one. I know that having regular business review meetings and advice. So the enhancements, if they were to select my bronze package, I'll just show you and I go to enhancements. You can see that in my bronze package there's different enhancements available here. And this is all stuff that you can set up. So typically the enhancements for my bronze package, I will typically pick three or four things from my silver package that I know are things that are quite popular and quite often requested. But maybe they're just not choosing the silver package because they don't want everything, they only want those few things. And then if somebody is choosing my silver package and I go to enhancements, I will typically have a few questions of things that are available from my gold package that again, they might not want to select the entire gold package, but maybe they want one or two of those extra things. And of course in this model I don't have any to show you. I'll have like really expensive items. Like if they want to work exclusive, I used to have. If they want to work exclusively with me, I don't have that anymore because I don't do a lot of the day to day bookkeeping anymore. But I may give them the option of wanting to work with a having their monthly meeting with a senior manager of my team or a senior team member of my team and so on. I may offer cash flow statements which aren't part of like any regular packages or I may offer something, you know, things that are really high ticket items because if they're already selecting my gold package, they're already looking for the premium service, that VIP level of service and so this is where you can really improve the profits that you're having. So let me just go back to. We'll use that silver plan. We'll say that they've picked the dedicated account manager enhancement. And now I will hit save and continue again. And now this brings me to my payment plan page, which you can also toggle to from the left hand side over here. You'll still see the payment amount at the top of the page. And this is going to be the same as what it was on the previous page after they chose their package and after they chose any enhancements that might have been applicable. This next section is now another spot where you can choose the number of months that you want the payment to be spread over. It works the same way as the months button on the fixed price page. And when you change it on one page, it will also change it on the previous page. So if I went, if I change it here, that I want this spread across four months and hit save and continue and go back to my fixed price page, that should say four months as well. Now if I go to payment plan, both are matching as four payments. If I go back to months here, Change that to 12, hit refresh, save my change, go back to payment plan. You can see it has changed back to 12 again here as well. So regardless of where you change it, you can toggle back and forth. As you see, if you toggle back to the fixed price page, you just have to hit that refresh button. When you go into the months button. It did say number four, but you just have to hit refresh for the price to update. So the example that I'm using is for bookkeeping monthly recurring revenues. So I'm going to leave it as 12 months. But what if this was year end work or cleanup work and you want to be paid the full amount prior to the completion of the work, for example. So let's use the cleanup example and we'll say that you're estimating that it's going to take you three months to complete the cleanup. I could change this to three and you can see that their payment amounts change. So I'll actually just change that back to 12 for a minute. You can see we have the 206 payments that we $206 a month payment if it's 12 payments. And that's also what's showing at the bottom of the screen for the net amount. And then we have the tax and the gross and my net and tax and gross amounts have also changed at the bottom of the screen as well. So the total annual price for the job stays the same regardless of how many payments you're spreading the payment over. You can also choose on this screen whether or not sales tax is applicable and even what the sales tax rate is. For me, my services are all sales tax applicable. But you can see if I change that answer to no. My sales tax column here has zeroed out. I'm just going to put it back to yes, I have it in my settings because I'm in Ontario that my default sales tax rate is 13% because the majority of my clients are in Ontario. But let's say I have a place of supply rule and I'm selling a service to somebody in a GST only province and that rate is 5%. I can change that. And you can see down here in the payment section, my sales tax rate just decreased. So again, if I change that back to 13, you'll see it goes back to the higher sales tax rate. So now let's spend a bit of time looking at this actual payment section. You can choose the date that you want the first payment to start. So I am doing this quote on May 29, but let's say services are not going to start for this client until June 1st. I can say that first payment is due on June 1st. And remember, not such a big deal here, but it's really helpful to have this option when we start carrying this information over automatically into our proposals. It really helps to have that. And then it doesn't give a regular payment remaining. It doesn't give a breakdown because it's going to assume, because we're using a monthly recurring module, it's going to assume that payments will be July 1, August 1, it's just going to assume that it will be monthly. After that it will have you also have these options of advance payment and final payment. And then this box that says included. So let's take a look at those. You'll see right now they both say zero, but let's take a look at why you might want to use those. So the reason that you're seeing two different regular payments could be that your regular payment first and your regular payment remaining are slightly different. It could be that your annual price is not evenly divisible by the number of payments that you're doing. And I'm just going to keep that at 12 for what we're working on. So what will happen is it could depend on a few factors in your settings, but if there's a slight difference, then that difference would be added on to the first payment. So the first payment would be a little bit higher, and then all of the remaining payments would be the same amount, and that would be the amount that is evenly divisible. Okay, so then the two other sections we have here, advance payment and final payment. The advance payment, you may want to agree that they may need to pay you in advance for your service. It could be that you're taking a retainer that is held on file. For me, I take an onboarding fee. So if you put an amount in here, you then have the option to choose from the dropdown whether or not that advance payment is included in the total price that they've already agreed to, or if it's extra. So, for example, my onboarding fee, depending on the complexity of the client and the complexity I will have determined from my diagnostic review and other stages that have led up to this, my onboarding fee is typically between 1500 to 2,500. So let's just say I'm going to say $2,000 is their onboarding fee. If I say yes, that is included in the annual price that's been calculated for them already, it's not going to change anything. If I say no, that is not included, you'll see that their prices go back to the 206 that it originally was. But now they owe me this extra onboarding fee. So I want this extra onboarding fee in advance before I start doing any of their regular work. And this one, I may say, is payable as of today, as of the day that I'm doing the quote, or maybe we're going to start the bookkeeping on July 1st. And I want the onboarding fee paid on June 15th. So you can change these dates however you want. Okay. The other option that's here is the final payment. The final payment section could be used, perhaps if you have a payment that is due on completion. It works the same way, like the advance payment. It could be that you've included it or that it can also be payable on a different date. I personally don't use this one because for me, all of my work is paid in advance before I do the work. But a situation where somebody might want to use this one is maybe a tax preparer where you might have a fee throughout the year, because Maybe you charge $1,500 a year to file their T2, but you break that down into monthly payment for them. But before, when it comes actual tax filing time, before you do the actual filing, you might have a final payment that's due and that could be a filing fee or a processing fee or whatever the case may be. And you could have that built into your price that they're paying for monthly throughout the year, or you could have it as a one time fee that's due at the end of all of their monthly payments before you do the actual filing. So like I said, I don't personally use the final payment, but the software is really customizable where the option is there if you want it to be. The other thing that we have on this screen as well is a print button. Again, we only have the default in there right now because it's coming up in a future class where we're going to talk about how you can put different print templates in here. But this is the default of the payment plan for my little morky karma where there's an advance payment due on June 15 for the onboarding fee and then their regular payment is due July 1st. Because I've said 12 payments, it's going to assume that the payment is going to be due on the 1st every month and it will input those dates for you automatically for the next 11 payments. Okay, so that is our payment plan page, this cancellation policy that's also customizable. You can choose whether you want to have a cancellation policy. You can choose what you want the wording of it to, same so on and so forth. I'll hit save and continue. And now we are on this finalization page or finish page where we review the quote. This is essentially a summary of everything that you've gone for. Their information and the date is at the top. If I look again, there's a print button. So it will have their information and stuff at the top. It will have a summary of the questions and the answer that they chose, any behavior rewards that you may have offered and which one they chose. Same thing with the enhancements. And then their payment plan is all outlined. So everything is here on, on a handy printout that you can give them. If they ask if a client wants print set printouts to take away and think about it, then I would use the print buttons on the previous screens that you can easily toggle back to. Like I would give them a printout of my packages screen or maybe the payment plan screen. But I don't even really always go through this screen with a client in detail. Like there's all the same information is here. I would just be like, you know, this is a summary of how we, what we've gone through. We however, ourselves do still need to Do a few more things internally to complete this quote process. So at this point, if I've reviewed this screen or quickly reviewed this screen, this is where I would end my meeting and my screen share with the client. I'll talk to you soon. I'll get the proposal sent off to you for you to sign. I look forward to working with you. When we hit save and complete on this screen, we're going to get this message that pops up. Congratulations for completing the quote. Although this cannot be undone, which means you will no longer be able to edit this quote, you will be able to clone the quote and use it as a basis for another, and you will be able to view the quote at any time. So once you hit complete quote here, let's say the customer comes back to you and says, you know what? I was looking at those enhancements. I decided I do want another enhancement. You can't go back to this actual quote and change it. You can however, clone it and then make a change in the cloned version and then complete that new one again. If I hit complete quote, the next thing that's going to happen, I get a quote number. It says quote complete. And I have two options now. One is Create Proposal and the other one is Generate a Price Success metric. When you So I had shown you guys in lesson or class one, lesson one, about some of the metrics that I've had. I always do that. To this day I still always like to see the metric. So if I we. I'm not going to do Create proposal because that's coming up in a future class. Actually the next one I think is when we're going to start looking at proposals. But if I click on Generate price Success success metric, it's going to bring me to this screen. This is the total price that was calculated by effective pricing. And then it now says, how does this compare? If this was an existing client, what was the previous fee? And if it's a new client without using this tool, what do you think you might have priced them at before? So before I started using this tool, I was at first I was hourly pricing and I was going based on this is how long it takes me to do a bank rec, or this is how long it takes me to do adjusting journal entries or a sales tax filing or whatever. I had an amount of time in my head that I would estimate how long to do each type of task and I would be like, you know what, had I have quoted this my old way, I probably would have charged this client twelve hundred dollars. So I'll put that in. And it can be what you may have been doing, some fixed pricing or some menu pricing. Basically, you're going to put in whatever number you would have previously quoted this client. And then when you click Create, you get this message. Congratulations, you got a higher price than expected by 106%. This is where I was getting my metrics that I showed you in week one, where my increase has been like, on average, almost 200% more than what I would have priced before I started using the software. It goes on to say, amazing, we'd love to hear from you. How did you get the result? What are the things you did that helped you get that result? Please let us know your success story in the box below and earn 20 points. So we also talked about in the software how you can earn points and points go towards badges. This is one of the ways that you can get points. This part is not mandatory. So you do have the option. Do you want to submit a short success story and be on your way to becoming a pricing hero? You do have the option to say no. Or you can say yes and then you can type in what your story is. Mark may use that or quote some of that. He may use that in future marketing or presentations that he's doing. So at that point, you can say whether it's okay for him to use your name when he gives that information of, hey, I had a great success story that I want to share with you. Or you can say if you want it to be anonymous so you have the option, you may want to share your success story with Mark and he can share it with other people and motivate other people to have the same kind of success that you've had. But you can choose to remain anonymous if you want. So I will say create. And now it says price success metric created and return to my dashboard. So here's my dashboard. And so here we can see from one quote my price success metric. I want to thank everybody for coming today. I hope you all enjoy the rest of your week. Thanks, everybody. Bye bye.