Category Archives: Charging Higher Fees

Healthier Fees

Let me tell you a little story about pricing professional services — there’s a lesson here for all of us.

I had more fun than you did this morning. That’s because I spent it sitting in my dentist’s chair, getting a temporary crown for my back molar where I had a root canal done a couple of years ago. (Those of you who are squeamish about the dentist, feel free to skip ahead to the fourth paragraph.) He started out by taking a wax impression of my tooth. Then he pulled out a drill that looked like something Laurence Olivier would have used in Marathon Man (“Is it safe?”), literally shaved the edges off my tooth, fashioned the temporary crown out of some nasty glop that kept sticking to my tongue, and cemented it in place until I come back for the permanent crown on September 13. Read more…

Two Smart Words from One Smart Guy

Marc Andreesen is one of the smarter guys to emerge from the Silicon Valley tech world.  He coauthored Mosaic, which became the first widely-used internet browser. He co-founded Netscape and sold it to AOL for $4.2 billion. He co-founded LoudCloud and sold it to Hewlett-Packard for $1.6 billion. Today he helms the venture capital firm Andreesen Horowitz and sits on the boards of Facebook, eBay, and Hewlett-Packard. He’s even one of just six inductees in the World Wide Web Hall of Fame. (Bet you didn’t even know that was a thing!)

So when Marc Andreesen offers some advice, it’s probably worth listening to—even if it doesn’t seem directly relevant to you or your business. Read more…

Captain Kirk’s Secret to More Confidence and Higher Fees

Captain KirkAny Star Trek fans in the room? I’m talking the “real” Star Trek, with William Shatner as Captain Kirk, Leonard Nimoy as Mr. Spock, the perfect pan-ethnic supporting cast, and one poor schlemiel in a red shirt who beams down to the planet and never makes it back alive.

Star Trek’s United Federation of Planets had one rule so important they called it the Prime Directive: “No identification of self or mission. No interference with the social development of said planet.  No reference to space or the fact that there are other planets or civilizations.” In other words, no interfering with any other civilization’s development.

Here at TaxCoach, we have our own Prime Directive: Lucror Vestri Dignitas, or “charge what you’re worth.” Not quite as grandiose as the Star Trek directive. A little mercenary, even. But still well worth remembering as you build your tax and financial services practice. Read more…

More Success Stories About Higher Prices

Wednesday night, due to weather-related travel delays, I found myself idly flipping through the channels at a hotel in downtown Miami. (It was the Viceroy, on Brickell Avenue, which was a nice property, but with such a heavy Miami Vice vibe that I was surprised they didn’t stock cocaine in the minibar.) I came across something on CNBC and realized just a few minutes into the program that I would be writing about it here.

The show was called Restaurant Startup, and it’s a cross between Shark Tank and Top Chef. (Seriously… I can see the producer walking into a meeting with CNBC and pitching it as exactly that.) Read more…

My $80 Bag of Groceries

Bag Of GroceriesMemorial Day weekend, my girlfriend and I enjoyed an especially relaxing Saturday afternoon. (There’s got to be a better term than “girlfriend” for a divorced guy who’s 50 years old, but that’s neither here nor there.) We started out with a couple of hours of tennis, which I’ve discovered is quite a bit better exercise than golf. Then we moved to my house to grill dinner on the deck. On the way, we stopped at Whole Foods to pick up supplies.

We ended up with a gorgeous-looking ribeye steak, along with some pasta salad in lieu of the usual baked potato, limes for Liza’s drinks, and a 6-pack of St. Pauli Girl nonalcoholic beer for me. (Costs the same as the fully-leaded version — there’s a lesson in that.) Read more…

$3,000 Success

I’ve said it before, and I’ll say it again until I’m blue in the face. If you’re not participating in our weekly Member Call-In, you’re missing one of the biggest benefits of TaxCoach membership. Yesterday’s call was no exception — we had a great time debriefing on the just-concluded tax season and sharing stories.

There were a lot of successes. Pam Schoelles had so many new clients she couldn’t keep up with the work. Joseph Conrad told us business was up 35%. We all thought that was impressive until Kym Mahler told us her revenue was up 60%. Read more…