EP316: Spotlight - Ron Baker - Embracing The Power Of The Subscription Economy - Part 1

“If we want premium pricing, we have to go to the market with an uncommon offering."

-Ron Baker Welcome to a new episode of our Spotlight series, now hosted by a great friend of The Successful Bookkeeper and world-class business strategist, Louie Prosperi. This is part 1 of a 3-part Spotlight series about subscription models for accounting and bookkeeping firms.

You see, many bookkeepers struggle with the idea of changing from time-based pricing to value-based pricing. Let alone changing it up even more by adopting a subscription pricing model. Ron Baker, author, and radio talk show host is this episode’s featured guest. He makes a powerful argument for the future of bookkeeping businesses that can offer pricing based on relationships, access, convenience, and peace of mind, rather than just stacking services on services, and calling that value. Ron speaks to the need to offer specific and uncommon offerings in order to command uncommon prices. To change up the way your clients relate to you, so that you can offer them the transformation they are seeking, not just services that keep them ticking over. It can feel scary to make changes to your business model, there is great comfort in our habits. But when you put the value of your relationship at the heart of your business model, you’ll stop limiting your value to only monetizing transactions and time. You only have to think about your favorite services or those with the greatest valuations to realize they are all subscription based. What is stopping you from achieving the same success? It is time to stop asking how much we want our customers to pay us, and start asking, what do we want our customers to pay us for? During this interview, you'll learn...

• The value of the subscription economy
• How to price relationships not services
• The importance of your niche & providing uncommon offerings

Click here to find out more about Ron.   Connect with him on LinkedIn, Twitter or Facebook.

Go to this link to pre-order his new book, Time's Up!   Connect with our new Spotlight host, Louie on LinkedIn.

Don’t miss a chance to get your free ticket to The Successful Bookkeeper Summit on November 9, 2022. Click here for more details!

Time Stamps        01:32 - Introducing our new Spotlight host 02:08 - Louie introduces this episode’s guest 04:00 - The subscription economy 10:19 - What makes this model better? 14:02 - Reinventing customer experience 18:25 - Consistently adding value to your offering 20:32 - Structuring the subscription model 24:34 - Pricing personalized transformation 31:24 - Overcoming limiting mindsets 36:34 - Measuring your success against new KPIs 41:00 - The value of predictability 45:30 - Ron’s new book, Time's Up!