Leverage Specialized Skills for Increased Profits

Source: Golden Practices

The following includes excerpts, reproduced with permission, from a blog post by Michelle Golden.

Being known for providing specialized services is a powerful form of branding. And the whole point of branding is to increase profits through being able to command premium prices.

CPA firms are good at developing specialties, but most totally miss the boat on leveraging the specialty when it comes to their pricing. Even when their capacity is full!

The two key situations that set you up for raising prices are a) being a specialist and b) being at or very near capacity! These perfect price-raising opportunities are too often overlooked.

Don't leave all that money on the table! (and the amount left unsold doesn't EVER show up on the balance sheet!

For the complete blog post, which includes a brief video, read “Specialists, Are You Charging More Yet? Why Not?”

From Golden Practices, http://goldenmarketing.typepad.com, January 26, 2011.