Effective Pricing with Kimme Lafayette: How to set up a pricing model for a client

So one of our session goals today, and I'd like you to keep this in mind as we're going through the session in case it stimulates any questions that you may have, is how do we ramp up our advisory services? If we're not already offering this and we want to, how do we start to get into this? And to do that you need to first start thinking and I'm going to talk to you a few times today about changing our own internal thought and how there's a bit of a mind shift required for us as well. So we need to start by considering what sort of clients are looking for that using the effective pricing software is going to be an ideal fit for them. What sort of clients are going to benefit from, from using this software based approach to their pricing. Because remember, one of the things that we've learned through all of Mark's teaching and the trainers is that clients pay for benefits of what we do for them. Right. This software is going to work great for anybody that is having face to face type pricing conversations. By that I also mean in today's world, online zoom, Microsoft Teams or Google Meet. When I say face to face, I mean you can see each other. I don't necessarily mean it's in person, but it needs to be a type of place where you can show and demo the software because that's where a lot of the power comes from, is when they're able to actually see it. So there's some types of clients that this will not be a good fit for. A few would be things like retail establishments or restaurant clients. These are types of places where there's going to be a price tag on that piece of clothing already or a menu that you're ordering from. Everybody in the restaurant pays the same price for their chicken parmesan or whatever. There's not really going to be any type of discussion about the price. Their choice is going to be what color shirt or what size, or do they want an appetizer or a dessert with their meal. Those are the types of choices they're going to have with clients like that. They're not going to really have any choice of the price that they're paying, which is what we're doing. We're building a price and working with the client together. It's a negotiation to land on a price that works for them and us. It also wouldn't work well in a situation if you're selling to or your client is selling to large groups of people. So for example, if they are speaking at a conference or doing a webinar that they've invited a lot of people to and at the end they're going to sell their coaching service. Coaching is a company that this would work for, but not if they're selling in that big public presentation type of way. Essentially what they're going to do is say the price for my coaching program is $1,000 and everybody in the audience is going to pay $1,000. There's not going to be any negotiation. However, like I said, it does work good for coaching. If they're pricing clients one on one for coaching services, whether that's a life coach or a therapist or counselor or whatever, some other clients that it would be a good fit for is really any type of service based business that's going to be a real sweet spot. HR companies, content creators. Think about these professional service type companies, lawyers, website designers, all of your trade industries. If anybody's servicing plumbers, electricians or painters, those are all going to be great fits. Marketing companies. This list could go on and on. I recently had the carpets cleaned in my home and the guy that came to the door to do the cleaning had a tablet in hand. He started offering me extra options that I could choose from, like getting deodorizer added, booking my ducks to be done at the same time. During that visit he had packages with different levels of follow up service, like you need to maintain your carpets every six months or something. And so he had a package where he offered that I could have quadrupled the price on the spot in my front hallway. On his tablet. He worked for a large franchising type company. They had their own custom software for that. But our clients do not need to be huge franchise type companies with their own custom software. We can do that for them with effective pricing and give them the same type of impact to use with their clients. Having identified the type of client that we want to offer this to, we've shown them the demo which we covered in last month's session. Now we need to start having a conversation with them about their pricing model and pricing. We're going to talk about this a lot today and this is where I'll be flipping back and forth to the workbook. It might be that this is an existing client that you're already doing accounting services for. So maybe you're already familiar with their pricing, but it could also be somebody completely new that you don't work with. You could market this pricing advisory, work as a standalone service and get new clients related to just pricing advisory. Maybe they don't need a bookkeeper or an accountant, but their bookkeeper or accountant doesn't offer this type of service and they would benefit. So if you're talking to that type of client where you're not familiar with their pricing, you're going to need to get a lot of input from them about their pricing. There's a client version of the workbook that you can either send to them and have them complete it. You can go through it in consulting meeting, ask the questions and make note of the answers or record the meeting. We'll talk about that when I show you the workbooks. There's different ways that you can approach this. It's your business, but it's a very high value type of service. You want to start talking to them to get them thinking about the idea of packages. Maybe they're not familiar with that concept already. So you want to get them thinking about how they will need to divide the services that they do into different levels. You're planting seeds. Get them thinking about behavior rewards and enhancements. You've already shown them the demo, which we did last month, so they've already seen all of this. But now that they've accepted your service and they're paying you for this, these are think about when we're pricing because we're doing this, but this is going to be a new concept for them. These are types of things they likely haven't thought of, chances are good or if they did think of it, they didn't understand it. So they need a professional like yourself to walk them through it or even do it for them and give them examples and say would you agree with this? Chat GPT is great for that. I'm not a ChatGPT expert. I do use it a lot, but I'm not an expert. But there's going to be a couple things today where I'm going to refer to where ChatGPT would be an excellent resource to help you help help your clients when you're not familiar with their pricing services. So let's break it down of what goes in to building a model and this may even help you with building some of your own models if you're still at that stage. We talked last session about how you could sell this as a one time service. It's a one and done. You help them with their pricing and that's it. Or the preferred method is to make it a monthly recurring revenue service. So when you're building a model for your client, you need to think about that and that can be part of your sales process. When you're quoting them is do they want a one time service or do they want monthly recurring work? So we're going to have our minds constantly going and we're going to get their minds constantly going as well. This is what I love about advisory work. It's not just compliance data entry stuff. It really gets your brain thinking. So you need to think about who are their clients. Right. Using our bike shop example, their clients are probably going to be more of a one time type sale. Customer comes in, gets their bike repaired, customer leaves. They might get repeat business where that customer comes back again the next time they need a bike repair or a bike service. But it's likely not going to be the type of service where a bike repair shop would offer a monthly package. So think about who their target audience is and who they are going to be using this model with. Whereas somebody like a social media manager would have a monthly recurring revenue model to manage social media for a company on an ongoing basis for their clients, this is going to have an impact on the thought process when you're building the model for them. Another situation you may come across is maybe they have a little bit of both. Let's imagine it's a spa where they have one off type services, but also a monthly recurring revenue package. They could have a menu of options where somebody can book for a massage or a facial and come just that one time. Or they might offer a monthly membership package that includes two hours of services of your choice a month. Or a premium package might include five hours of services. So in a situation like that, what I would sell to my client is to build two models for them, one for their one off type customers and then one for their monthly recurring revenue type clients. This can be part of your pricing model, part of your premium package that includes building more than one model. Or it might be an enhancement that you offer. If they want additional models, they can purchase additional models like that. Keep this in mind about who their client is. Once you've got that mind shift made and you're putting yourself in your client's shoes thinking about who their customers are and who they're selling to. Now you want to ask yourself, is it being sold as a package or a bundle already by your client? And if not, how can it be? Because we want to work with our clients to build packages. That's where another power of this software comes in. When the customer has choice, they're not just looking at a price tag on a sweatshirt they want to buy, they're looking at three sweatshirts. That have three different prices and they're choosing right. So having those packages and being able to have clients choose what they want is a really powerful price psychology method. And we're going to talk today a few things about price psychology, but Mark has a ton of sessions about those separately. I'm not going to go deep into a lot of that today, but I am going to just mention it a couple times. For the software to work effectively the way we've demoed it to our clients, we need to teach and train them about how offering their clients a choice of a package will work in their favor. This is the magic of three principle for price psychology. You could give them examples that they see in our everyday lives of places that are doing this type of packaging. Like you go to Starbucks or Tim Hortons and they ask you do you want small, medium or large or fast food places? Do you want to upgrade your combo to a different size or whatever, Right? So these kind of options. Mark refers to Apple a lot that they have packages. A lot of these retail type companies that offer packages are doing it in a menu where the prices are displayed. We're doing it a little bit differently, but we do want to get them into that mindset of breaking down their services, everything that they do into packages, just like we did. Trello is a great example, a great program for using this. You just put everything they do into a tile and then move things around as needed. Depending on the nature of their business, it might not call for three packages. It could be just one, it could be five. You need to use your expertise and judgment and obviously what your client wants. Think back to the training you've received about the seven step framework for menu pricing, which I'll refer to some of the steps today. You don't have to do a lot of price psychology training at the beginning level of offering this service to your clients. I did say that I was going to mention how you can offer this at an introductory level versus more advanced at an introductory level. You don't have to get into all the price psychology background with your client. You can just help them with their prices and that's great. Or if you wanted to offer it as a higher level premium service, you could start to teach them about price psychology if they are having trouble coming up with packages. This is a great place where I would go to ChatGPT. I would have a little prompt saying what the nature of their industry is. Please provide me a list of services that a bike repair shop would normally offer to their customers. He's like, oh, yeah, I do that. Oh, I forgot. Yes, I do that. Because lots of times we do little things that we don't realize we do. So being able to help your clients with that will be amazing for them. ChatGPT is also a great place to help them come up with package names, which is the next step that you would want to do. It could be that they want to stick with the more standard bronze, silver, gold type naming convention. I like to be creative with them, but I'm not a creative person. So I would go to ChatGPT. I did this just while I was preparing today's presentation actually, and I said, give me some package names for a landscaping company. It came up with lots of samples, but there was one that was like Green Thumb for the basic package, curb Appeal for the middle package, and then Estate Care for premium. I thought those were kind of cute. One of my niche industries is animal grooming salons and ChatGPT came up with three package names for me for that one. The basic package was fresh and fluffy. Isn't that cute? My dog's hair is going to start getting a little bit longer for the winter, so they'll be fluffy. Pampered Pet was the middle package name and Top Dog Makeover was the name for the premium package. If your client likes those creative type things, move on over to ChatGPT and help them come up with some suggestions. The more you can do to make this process easier for them, the more valuable you are proving that your services are. When you're building your packages to sell this type of service, keep these things in mind. Do you want to offer help for them to build their packages or do you want them to do it? Maybe in the basic package they have to do it on their own, but in your premium package, you give them examples and then just tweak it for them. So we're doing a couple of things with our mind. We're thinking about how we're building our packages and selling this service to our clients. But at the same time, the other side of our brain needs to be thinking in our clients shoes and building packages for their customers. I want to show you something in one of the workbooks first. So this is your version of the workbook that you will get. There is a different client version that I will show you, but this one includes examples and some instructions that you don't necessarily want your client to see. Here's an example of how if you're doing this in a meeting with them, you might want to help them create their packages. And so you would want to first get them thinking about how many packages they want, what they want to call them. A short description which is the tool tip that shows up under our packages in the software. Get them thinking about that short description of who is that package aimed for. For example, my bookkeeping packages. I say that my entry level package is aimed towards having a casual on call bookkeeper that comes in when needed. My middle package is similar to having a part time bookkeeper that maybe works one day a week. My premium package is, is equivalent to having a full time bookkeeper on staff ready anytime you need. I sell a lot of my premium package because that is who my ideal client is. I'm a bit of a control freak, so I like clients that let myself and my team do all of the bookkeeping and then I just give them the reports. I steer my clients towards the premium package and I've got a really high closure rate right now. All of my clients are premium clients. When you're creating the packages, you want to get them to start thinking you can do this on a trello board. You can do it in the workbook with them. Here there is a word version of the workbook that you can get. You want to get them thinking about what's going to be included with each package, whether it's not available, complimentary or included. Just like we do with our packages. Okay, we are going to look at the practical side of this in a few moments in the software. Like I said, we're going to be jumping back and forth a bit today. Another thing that you need to remember when you're selling this service is that you're not selling a piece of software, you're selling a solution. And that's why it's great, great to sell this as a monthly recurring revenue package to your clients so that they have your knowledge and expertise on their side all the time. The one and done where you set it up for them and then maybe give them a bit of training on how to use it and send them on their way. I would still do a follow up three months or six months later and see if they need any additional help. But to offer advisory services, it's great and high value to be able to bill for this on a monthly basis. So let's go look at the practical side of the software. I think I should be logged in still. If you remember from last month when I go and I'm in the training version, the layout and everything is the same but some of the data is a little bit polluted. Because we've been playing around with it all year for our sessions. If you remember, if you go to the cogwheel and then down here you have client versions, you can go in here and create a new client version. I've got a few in here. So I'm just going to rename this one. The name and email addresses are mandatory. I'm just throwing fake ones in. Their role is going to be a full user and then you're going to choose their package. I'll show you the packages page on screen if you're not familiar with it. Basically what you need to know for their packages is the price, the number of users they're going to need and the number of customers and quotes that they're going to want to have in in the software. So I'm just going to, for today's purpose I'm going to say pro and then I'll hit save and continue. On this next screen you're going to see two different sections. This pricing models section and the proposal templates section. This is pulling from your own models. So we have a whole list of models that that Mark gives us. Have four that are active. If there's a different one that you want to use to build a model for a client, you need to make it active in your own model management first in order for it to appear in this drop down list. So I'm just going to choose Bike Servicing. I'll click on add and I can now see that that model is available and it save and continue. This defaults to showing clients that are enabled and I had not enabled that one I just set up yet. So if you just change this to all I can see that's right here, let me enable that one right now that enable and disable is really useful because if they don't pay you, you just disable their software and they can't use it anymore. You are paying for the software. It works just like accounting software, wholesale billing. You're paying for the subscription and then you are either passing those charges onto them. I would suggest a significant markup because it is a valuable product or you're building it in to your own price. Now that I have created a client version, if I want to start editing that client's version, I'm going to go to my client versions and click on login. A couple things are going to happen. You're going to see I have this button at the top that says back to my account, which I did not have previously. This means that I am now in a client version, even though it still says welcome, Kim. It's a little confusing right now because I haven't configured it, but if you had configured everything already, it would have the client's logo, branding and colors. Then it's also going to take you to the configure screen. You can go through this with your client. For today, I'm going to go back to one of the other ones that I've been playing around with a little bit. You can see I've done some of the configuration steps already. From here it operates the same. If I go into my settings button, you can see that that client versions option is no longer down here because we are now already in a client version. But I can go to model management and here is the model that I have given this client access to. So they do not see all the models that are available in the software. They only see the model that I've given them access to. Everything from here works the same like it does for us. We can go in and edit it. It we can put in some templates and then start to go through the questions. We'll have a list of the questions they want to use. I'm going to talk about the pricing part in a minute. Lynn is saying under client versions, none show up. If I go back to my account and go to client versions, if I disable both of these and I might need to refresh. If I just do a quick refresh, you might be seeing this, Lynn, where it's defaulting to enabled only in this dropdown when you're creating a client version by default. Down here in the bottom, it does show up as disabled to begin with. So unless you change it to enabled right away, it will not show up in your list. And then you should see the ones that are set up. Lynn, I hope that answered your question. So I'm going to enable this one again. It's the one we'll be working with today. And I'm going to log in. So I've gone through the workbook with them. So in the software, if I go into their model management and I go in to edit their model and go to packages page, you can see this model, this bike service model. You can see in the model that a lot of the stuff is here already. We would have their workbook that they've given to us of how they want their packages laid out. And because we're familiar with the software, we can very quickly go in here and start making changes for them. It literally will take 30 minutes or less. I think 30 minutes is being generous. So then that's their package is done. And that's really where we want to start as well. The workbook goes through steps of how you want to do this. Customers often want to jump right away to building the price and how to calculate the price. But we really want to go through this in steps. So we want to start with creating the packages. Because it's the package that we're selling, we want to think about our end goal. There's an example in your workbook about applying that to a bike shop. Here's the sample that we see in the software. Then we move on to step two in the workbook. And this is getting into scope and preference questions. You can provide this workbook to your client and have them complete it ahead of time or do it with them in a consulting meeting. It would depend on the package you're selling of how much assistance they want from you. Once you've got their completed handbook of all the questions, any description they might want to add, the description is going to be the tool tip, what question type they want it to be. Whether it's yes or no, drop down calculation type. If it is a drop down, what are those options? And this is important here, this section about pricing thoughts. You want to really get them thinking at this point about how their above answers. You really want to get them thinking again about the end version of what's potentially going to display at the end when they reveal the price to the client and have them think about the impact that that this question is going to have on the price. So that's what this pricing thoughts section is. The example we have here is the first question we're asking is what type of bike do you have? They've chosen not to have a tool tip description. It's going to be a drop down. The math calculation is going to be add. Here's our dropdown options and the pricing thought example is that if it's an E bike, it's a lot more expensive and the repair work on it could be more expensive. So that probably indicates that they are willing to pay more for their service. Same thing as if they have a racing bike or a mountain bike. Whereas if it's a kid's bike and the kid is going to outgrow that bike in a year or two, they might spend a little less on it. We want to make sure that they understand that just because they're putting these prices in does not mean that that is what the end price is going to reveal. This is where you need to do a bit of training on the software when getting them to complete this workbook. When we get to the part in the workbook about the calculations and pricing parameters, you can explain to them how they can have different sections in the software. This would be a section about your bike, this would be a section about the work that we're doing, so on and so forth. You also want to make sure that your first question is really important because as you know with how the math calculates, it all builds from that first price. Unless you're using a base price, which we'll talk about later. But if your base price is zero, this first question has to be an add type calculation to get the first amount started. It starts at zero. If that's your base price, you can't have multiply as your first calculation type because anything multiplied by zero is zero. The first question you need to think about the type of service company they are. There's really going to be two primary types of choices for your first question. For us in the accounting industry, I'm just going to ask everybody using effective pricing already to start dropping into chat. What is your first question in your pricing model For a company like our bike repair company, Their first question would be wanting to determine a customer's willingness to pay. Remember, our bike shop is likely going to be the one time type of customer, so we need to. There's not going to be a lot of scope. We're just servicing their bike. And so we need to determine how much are they willing to pay without actually asking them to because they're never going to be honest if we ask them. Having this first question about what type of bike do you have? That is a great question about determining their willingness to pay. If they're willing to pay several thousand dollars for an E bike or a racing bike, then they're probably willing to pay more for their service than if they've paid $100 for their child's tricycle that's going to need to be upgraded next year. Now I'm going to talk about the other type of of first question. Let me see if anybody. So I didn't see anybody. I saw Wendy put in the chat. What is the price range that you have charged for monthly services for this? Are you asking me what I charge for this? What is the fee that they pay for? So I think your question is related. Yeah, I just am curious like what the. You said that you could do this as like a monthly fee for your clients. I was just curious what that price range could be. Using this bike shop example, we covered that in last month's session when we did a real quick run through of the model. I think it came out to $800 a month or a thousand dollars a month. Thank you for reminding me. I'll show you where to see the plan prices you actually pay for the software, not them. You're the one that needs to subscribe for the software and then you're choosing whether to sell the price of the software to them either at cost or marking it up. Or if it's a monthly recurring revenue type package that they are purchasing from you, then you may choose to include the price of the software. I'll get back to those prices in just a minute. Wendy, I'll show you where you can find those. What I was hoping somebody would drop into chat here of your first question for us in the accounting industry, what's one of the things that most of us always want to know? How many transactions does a company have that we want to determine the scope of work that we're going to need to be doing? So so often I see that as the first question when pricing accounting services. What is the scope of the work if it's a type of industry that will have scope or willingness to pay? Okay, let me answer Wende's other question before I forget. I'm back in my model. If I go to change plan, this is where you can see see the price of the plans. There's a different price if you do annual, obviously, but that again would depend on whether you're doing monthly recurring for your clients or not. And then you can help determine how many users they want, how many models they want. The starter plan can only do 10 quotes. They can only have 10 clients that they're doing quotes for. They can only have three models or two users. So this is where you would find the price you are going to pay. It's the same price they would pay if they bought it themselves directly through Sarah. Because there are business owners that do purchase effective pricing directly. The price is the same for everybody. So I want to go back to the workbook for a minute. We talked about sections and questions. Now step three, we've got our packages, we've got our questions. So we've put all of that into the software for them, into their model. That's probably taken us maybe an hour at this point. Starting to get a little conscious of our time here. Gosh, I don't want to go over, but I love this topic so much. Step three, we want to now start getting into the math and coming up with a price. I think I might start spending a little more time in the workbook because most of us are familiar with how to do things in the software already. So I want to walk through how we are going through the workbook with our client. There is no magic formula for value pricing. There is no A plus B equals C. That just doesn't happen with value pricing. It is a journey. There's not a lot of specific rules about it. There is psychology that helps. But give us this magical price at the end, that's going to be the same for everybody. Everyone always wants to know up front, how much does this cost? You have to go through the process with them to get the price at the end. It's going to require you to have your toolbox or your recipe, if you will, of things like the knowledge that you learn from Mark and all of the trainers in the academy. A lot of intuition that we know about the industry, especially if you're dealing with a client that's in your niche and you're really familiar with their pricing, there's some general judgment and a little bit of that gets thrown in there as well. It's a combination of things that's going to help you with selling this service to your clients. Remember, you're not selling the software, you're selling the solution as a whole in page 13 of your workbook. I'm going to go to page 14 where there's some information that's completed. This is getting into.

The pricing parameters section of our model. We're now into the pricing parameters section of our website. We need to explain to them about this minimum, maximum price and the extra things that we want. We don't need to necessarily explain how the software calculates the price, but we do need to explain what they're using each of these for. We want to explain how the software is not dynamic. The customer is purchasing a package. This is important because I get this question all the time when people come to me for coaching. Regardless of how a customer answers the questions, the prices are always going to calculate on the basic level package. So even if they choose the regular package or the premium, how they answer the questions does not impact that. When you get to the packages price page, they're purchasing a package. All of those questions factor the price into your basic level. And so I like to explain that the rest, if they choose your middle or premium package, is just gravy, really. There's some extra things included. So you want to explain to your client that think about what is the minimum amount that they want a person to pay? If somebody answers no to all of the questions, except saying, yes, we want our bike serviced, the minimum price is going to be $69 for the regular package, the maximum I usually set really high in my bookkeeping packages. I actually have it at a hundred thousand. The maximum package isn't that important. You would want to explain to your client that if somebody answers yes to all the questions, you don't want it to spit out an unreasonably ridiculous amount. Like for our bike service. If somebody has a child's bike and they answer yes to all the questions, they want fast service, they want the seat changed to a more comfortable seat, they want the bike washed before it's returned to them, they want all these premium level services. You don't want it to come back with some price of $500 or $1,000 when the bike is only valued at 100 or 200. So you do want to explain how the maximum prices work and that they have the option to use them. Then we have the relative price multiplier. This ties into what I was saying about how regardless of how they answer the questions, it is the basic level price that is being calculated on those answers. So this regular relative price multiplier for your lowest level package or your regular basic package should always be a one. In this case we have four examples because there is a light package, so that one has a slightly reduced price. If I go to this packages page, these extra services that are offered in the deluxe package or in the super deluxe package, we need to look at that now as a multiplier based on the price that has been built from the questions for the basic. So if somebody says doing these four extra services and including the valet and polishing service in our deluxe package is worth 50% more than the basic package, then we would put a 1.5 in here. When the software is calculating the price, we've got our questions answered. We have our basic level price. It will automatically multiply that basic level price by 1.5. And then same thing for the super deluxe package. You need to look at your packages and work with your customer and say, how much is it worth to you to charge for doing these extra level services? We have the rounding amount. There is some price psychology about that. We also have a relative price price. Add an example in our accounting industry. Where I've seen it used is like, I'm a bookkeeper. I do not do income tax filing. I leave it for the accountants to do that. I Prefer the accountants to bill for that themselves with the client directly. But I do know some bookkeepers that white label that charge. If you're working with an accountant, you're doing all the bookkeeping and you're sending it to the accountant. And the accountant charges $3,000 for the income tax filing. You could do a one time flat amount in here, say for your premium package. If you want income tax included, you could automatically add $3,000 in here to that package because you know that you're going to need to outsource that to the accountant. That's an example of where you might want to use the relative price, add the rounding. There's a lot of price psychology about that. Things that end in zero tend to be valued as higher quality items. Things that end in five tend to be what people usually lean towards. And things that end in nine usually make people think there's a discount. Our bike repair service, these are ones. But let's say you're offering this as a monthly recurring revenue package. Then you would have 12s in here. The price is going to be spread over 12 monthly payments. Or if it's a cleanup service, it's going to be spread over three months or whatever. All right, let's go on to step four, the behavior rewards. So again, this is optional. It's more of an advanced feature. If I were to flip back to the different packages, Behavior rewards aren't even included in all of the packages. So I'm going to show you in a moment. When you get to something that is not included in the package, you're going to see this little black exclusive exclamation mark and it's going to say altering display options is not available on this plan. Would you like to upgrade? Right now I'm logged in to my client's account, so I am the one that has control. Your client does not have access to upgrade their plan themselves. If they want to upgrade their plan, they have to go through you because all the billing flows through you. They would have limited access to be able to do things like that. So behavior rewards, we talked about the difference of selling this as an introductory level service versus a more advanced level service. It could be that you start with a basic model for your clients. Our bike example does not have any behavior rewards. It's not to say that you couldn't add some. It's just that this is a very simple example that you could sell as a very introductory level type model. It could be that there's no price psychology included and you sell those things later as an upsell or part of your premium package. I mentioned earlier in the software about the base price here in the expressing price section, our base price, I call this my get out of bed price. And this is where I was talking about your first question and how the math starts calculating. The first question has to be an ad question. If you have a base price, then that is what your pricing model will start the quote at. So regardless of whether they have answered the first question or not, the price would start with this base price. Using our bike repair company as an example, let's say they know that regardless what type of bike it is, it's going to cost them $20 in material. Other bikes and stuff might cost more, but at a minimum they know it's going to cost $20 in material. They might want to put $20 in as their base price so that all of their quotes automatically start with the cost of those materials covered. We would also want to find out if our clients want to use decimal places. I would skip over the part about the global adjuster, but you can show them how they can customize this text when they reveal a quote and explain how the software by default does not show decimal places. But if they want it to, they can trigger this to on and then of course our text down here. Also, if I go back to the pricing parameters page, there is the order of reveal section at the bottom. You could explain they may want to reveal their premium level package first to create that price anchor. And if the customer doesn't choose that package, then they can reveal the next one and then the next one. Because order of reveal and display options are not available in this model. It's not letting me change that. But you can see that we could change it to reveal, in which case it would then follow. We could change all of these ones that say show to reveal and they would reveal in this order each time that you click your mouse. With all of them currently staying show like this, all three prices will just show up at one time. I want to just check for questions. Can we use these steps and processes to help us set up our own pricing models? Yes, absolutely. I'm not sure if you were a little late joining, but I did mention in the beginning that not only can we use this to help our clients, but you can use it to help you further develop your own models as well. Lynn says when in the process do we start paying for the EP software for client versions? That is a great question. I believe as soon as you create a client version, it comes through on your next billing cycle. I'm going to ask Gabby to correct me if I'm wrong, because I'm not really involved with the billing. It just comes off my credit card automatically. I believe it's going to just come off your next billing cycle. So whatever you're paying for your Academy program now, it would be added on to that. I don't think it creates a separate charge that you're going to have for just that client. And Gabby confirmed that's the way it is. So if you have two client versions, that's going to be added to the monthly rate you pay for your Academy membership. We all know what enhancements are, but this will help you explain them to your customers and how they may want to use them for their clients. So there's some examples here in our version of the workbook and then where they can start populating and then the other considerations I'm going to talk about. Let me show you the other versions of the workbook that you're going to get. So there is a PDF version. This is the client version. More instruction for them about setting things up. This is a resource for them if they wanted to go back and change things later. And then the Word version of this workbook is here as well. This one has charts and questions. You can create a Word version of this that you can send to your client if you use it within your own firm, only for your own purposes of selling this service to your clients. You can't turn around and sell the Word version of the workbook. It's just something that you can use as a tool to send to your clients. But before you meet with them to get them to start filling in some of this information. Or like I said, you may just want to use Chat GPT and get creative on their behalf and start populating some things. There is a bunch of appendixes at the end. I'll leave you to read those on your own. A couple of things that I just wanted to wrap up with is to remember to think about offering price testing as part of your software or as part of your services when you're adding it. Because lots of times what will happen is, let's say a customer is selling something for $50 and you're recommending they sell it for a hundred dollars. They're like, oh no, I don't want to double my prices. So they agree to sell it for 75, three months or six months later, or something you want to offer as part of your service that you do some testing for them, give them some results of how that's been happening. Monitoring that for them and see if they want to test increasing it a little more until they're hitting that sweet spot. Make sure that you have some type of follow up service. What may often happen is they purchased this follow up service, but then they increase their prices, start making more money and forget about it. One third of the customers will be happy with their first price increase and don't want to do any additional testing even though they've already bought that package. One thing that I wanted to mention is when you are creating this account for them and I create a new version and I'm putting that username and pass their email address, I would actually be putting their business name, their name, so on and so forth. So when they're logging in, that's what they're seeing instead of hi Kim, they're seeing their name. You don't provide that password info to them until you have finished creating and revising the model for them. I would also recommend selling a training usage package with your services to show them how to use the software. Once you've completed that training, you would provide them the link to log in and and the password you created for them and then they would be off and running in that client version. When they log in, they would see the model that you had provided for them.