Implementing Value Pricing: A Radical Business Model for Professional Firms - Hardcover

Baker, Ronald J.

Hardcover

ISBN 10: 0470584610 ISBN 13: 9780470584613

Publisher: Wiley, 2010

Synopsis

Praise for IMPLEMENTING VALUE PRICING

A Radical Business Model for Professional Firms

"Ron Baker is the most prolific and best writer when it comes to pricing services. This is a must-read for executives and partners in small to large firms. Ron provides the basics, the advanced ideas, the workbooks, the case studies—everything. This is a must-have and a terrific book."
—Reed K. Holden founder and CEO, Holden Advisors, Corp., Associate Professor, Columbia University www.holdenadvisors.com

"We've known through Ron Baker's earlier books that he's not just an extraordinary thinker and truly brilliant writer—he's a mover and a shaker on a mission. This is the End of Time! Brilliant."
—Paul Dunn Chairman, B1G1^® www.b1g1.com

"Implementing Value Pricing is a powerful blend of theory, strategy, and tactics. Ron Baker's most recent offering is ambitious in scope, exploring topics that include economic theory, customer orientation, value identification, service positioning, and pricing strategy. He weaves all of them together seamlessly, and includes numerous examples to illustrate his primary points. I have applied the knowledge I've gained from his body of work, and the benefits to me—and to my customers—have been immediate, significant, and ongoing."
—Brent Uren Principal, Valuation & Business Modeling Ernst & Young^® www.ey.com

"Ron Baker is a revolutionary. He is on a radical crusade to align the interests of service providers with those of their customers by having lawyers, accountants, and consultants charge based on the value they provide, rather than the effort it takes. Implementing Value Pricing is a manifesto that establishes a clear case for the revolution. It provides detailed guidance that includes not only strategies and tactics, but key predictive indicators for success. It is richly illustrated by the successes of firms that have embraced value-based pricing to make their services not only more cost-effective for their customers, but more profitable as well. The hallmark of a manifesto is an unyielding sense of purpose and a call to action. Let the revolution begin."
—Robert G. Cross, Chairman and CEO, Revenue Analytics, Inc. Author, Revenue Management: Hard-Core Tactics for Market Domination

About this title

About the Author

RONALD J. BAKER is the author of Professional's Guide to Value Pricing, Sixth Edition, The Firm of the Future, Pricing on Purpose, Measure What Matters to Customers, and Mind Over Matter. He is founder of VeraSage Institute, the leading think tank dedicated to teaching value pricing to professionals around the world.

From the Back Cover

Praise for IMPLEMENTING VALUE PRICING

A Radical Business Model for Professional Firms

"Ron Baker is the most prolific and best writer when it comes to pricing services. This is a must-read for executives and partners in small to large firms. Ron provides the basics, the advanced ideas, the workbooks, the case studies everything. This is a must-have and a terrific book."
Reed K. Holden founder and CEO, Holden Advisors, Corp., Associate Professor, Columbia University www.holdenadvisors.com

"We've known through Ron Baker's earlier books that he's not just an extraordinary thinker and truly brilliant writer he's a mover and a shaker on a mission. This is the End of Time! Brilliant."
Paul Dunn Chairman, B1G1^® www.b1g1.com

"Implementing Value Pricing is a powerful blend of theory, strategy, and tactics. Ron Baker's most recent offering is ambitious in scope, exploring topics that include economic theory, customer orientation, value identification, service positioning, and pricing strategy. He weaves all of them together seamlessly, and includes numerous examples to illustrate his primary points. I have applied the knowledge I've gained from his body of work, and the benefits to me and to my customers have been immediate, significant, and ongoing."
Brent Uren Principal, Valuation & Business Modeling Ernst & Young^® www.ey.com

"Ron Baker is a revolutionary. He is on a radical crusade to align the interests of service providers with those of their customers by having lawyers, accountants, and consultants charge based on the value they provide, rather than the effort it takes. Implementing Value Pricing is a manifesto that establishes a clear case for the revolution. It provides detailed guidance that includes not only strategies and tactics, but key predictive indicators for success. It is richly illustrated by the successes of firms that have embraced value-based pricing to make their services not only more cost-effective for their customers, but more profitable as well. The hallmark of a manifesto is an unyielding sense of purpose and a call to action. Let the revolution begin."
Robert G. Cross, Chairman and CEO, Revenue Analytics, Inc. Author, Revenue Management: Hard-Core Tactics for Market Domination

From the Inside Flap

An overwhelming majority of pro-fessional firms price their services by the flawed hourly billing method. This method is outdated, suboptimal, and driving the best and brightest out of the professions. While lawyers, accountants, and consultants serve noble callings, the predominant method of pricing for their services is not worthy of them. There is a better way.

Implementing Value Pricing demonstrates a superior model to price for professional services: selling intellectual capital with pricing based on the results and value it creates, not the cost or time it took to formulate.

Written by veteran speaker, writer, and educator Ronald Baker, this book declares the customer as the sole and ultimate arbiter of value. It proposes a business model change from "We sell time" to "We sell intellectual capital," exploring the requirements, hurdles, challenges, and opportunities that enlightened firms transitioning to this new business model will face.

Driven by theory and the actual experiences of many firms, Implementing Value Pricing features seven appendixes available for download on the companion website containing checklists, strategies, sample forms, and case studies, and discusses:

• Business model innovation

• The latest research on the history of the billable hour and timesheets

• The foundations of creating value

• An eight-step model to assist firms to implement value pricing

• Two frameworks for scoping complex engagements

• What, specifically, replaces hourly billing and timesheets

• Seven appendixes available for download on the companion website containing checklists, strategies, sample forms, and case studies

With case studies from firms that have profitably implemented these specific ideas, Implementing Value Pricing is a practical guide for how and why to implement a business model change, create more value, and unlock the tremendous competitive power hidden in the intellectual capital of every professional firm.

Edition details

• Publisher: Wiley
• Publication date: 2010
• ISBN 10: 0470584610
• ISBN 13: 9780470584613
• Binding: Hardcover
• Language: English
• Edition number: 1
• Number of pages: 400