Understanding the importance of a robust repricing process with Buhir from Total Books

Total Books-GoProposal-Repricing

Becoming aware of the repricing problem

Working at GoProposal, one of the most common themes that comes up with our members is tackling the issue of Fee reviews with existing clients.

Buhir from Total Books explained this to me in a recent conversation we had;

After working closely with a prominent business mentor in the field, Buhir became aware of GoProposal and how the software could tackle his issues.

With the combination of guidance from his Mentor, his own professional expertise and a place to systemise his pricing, Buhir could start his journey of tackling the daunting challenge of repricing current clients.

“I didn’t even know I had a problem with my pricing or with Scope Creep, never mind how to tackle it.”

Tackling the beast of repricing clients

Buhir’s initial focus was to get the pricing structure right for his core services;

“My first priority was to use the structure of pricing in GoProposal and make sure I had a system I could rely on. I knew I had clients that were paying me way too little, and that my range of fees across my clients was massive. So a benchmark of what my costs should be was going to be my foundation for putting this right.”

The next thing that became clear to Buhir was the need to segment his client base in a meaningful way;

“For 3 days I walked around the house whilst I was doing the dishes, and general housework, just listening to the videos of the GoProposal Academy to understand how I could tackle the problem. It became clear from the video series – The art of pricing & selling to serve that I needed to segment my clients into 3 simple groups; profitable, breaking even, and loss making.”

This exercise is great for creating focus and giving you the opportunity to tailor your approach to the different groups.

You should start with repricing the third group, those who are losing you money.

Their fees need to be raised significantly.

This might involve a difficult conversation. It may seem daunting. But the fact is, they are already losing you money. So even if you lost all those clients, you would still be better off.

In fact, you would now be free to take the time you spent on those clients and reinvest it into your other clients. But, by coming to them with the right conversation and by showing them how much value you will bring, you aren’t likely to lose most of them.

The final stage of the process is to develop a repricing process you can trust in.

A Repricing process you can believe in

Once you realise you have a problem, what often comes next is the fear of solving it, as Buhir pointed out;

“My turnover is not just about my business, it’s about being able to care for my family. With such high stakes, losing one client was very scary to me.”

To overcome this fear, Buhir drew inspiration from a structure approach to fee reviews known as the GLOSS method™ to give himself a structure he could rely on;

“Having the GLOSS Method™ structure gave me the confidence to stick to a script and a process.”

Having the structure pre-defined also meant he was freed up to use his expertise to communicate the value of what he could do;

“As I was running through the process, I was constantly driving home and cementing in the value the services I was offering would bring to the client.”

With this, Buhir was able to completely change up the conversation, so it wasn’t solely about increasing a client’s fee, but looking at how he could demonstrate the most value to their business.

And the results showed;

“I went from worrying about losing clients and losing income, to taking on 6 clients and doubling the fees of the first few clients who were being undercharged massively, all in 6 weeks.”

All this came from Buhir grabbing the bull by the horns and following steps:

1. Trialing & implementing the software with great support from Goproposal team.

2. Learning the methodology from using videos, guidance from the team, the facebook group & all the great blogs.

3. Identifying the most urgent clients for Repricing.

4. Building out a repricing meeting process from GLOSS™ methodologies.

5. Taking action and booking in meetings with the most urgent clients immediately.

What next for Total Books?

Now the system is in place, Buhir is going to focus on cranking the handle as much as possible to achieve the greatest rate of growth possible;

“Knowing I have a really seamless and professional system in place for doing proposals and fee reviews, loe’s, enhances my plans for growth.”

This is possible because of a combination both the time saving aspect and the new confidence in pricing, which Buhir is able to calculate specifically;

“With GoProposal I am going to be able to increase my prices to where they should be, which is anywhere between 50% and 200%. But on top of that I have calculated I will save 72 hours a year using the system, which translates as over £10,000 when it comes to switching that time to my clients.

I’m now aiming to grow quickly off the back of this, way quicker than I planned before. I’m looking to have conversations with 10 – 15 existing clients a month moving forward.”

Focussing on the businesses he is so passionate about to deliver value for his clients, his business and his family is something Buhir can now focus on, which he sums it up perfectly;

“I’m not worrying about over-servicing, overworking and undercharging, so I can focus on striving to give the best I can for my clients, my business and my family.”

 We ran a ground breaking masterclass revealing the strategy which has helped many firms conquer their repricing fears – watch the full online masterclass here.

Client Stories

“GoProposal is the cheapest product you'll buy. It's been worth £30,000 to me this year.”

Euan Brown | Founder of Total Accounting

Are you ready to start charging what YOU'RE worth?

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