I was recently asked what I thought about value pricing as it relates to professional services firms. The billable hour is typically how firms price their engagements, but the idea of value pricing is gaining momentum and acceptance is growing. I believe in a competitive market, value pricing would occur naturally. Misinformation from vested interestsContinue reading “Value creation mode isn’t just from 9 to 5”
Monthly Archives: November 2007
Using wikis or blogs to manage knowledge in firms
A recent article on WebCPA confused and inspired me: Accounting firms need to become more intelligent businesses by better leveraging the time and knowledge of their professional staff, according to a survey… […] Firms with a formal knowledge management program benefited from its implementation. Hmm… Intelligence, good. Leveraging knowledge, check. Formal knowledge management program, bingo!Continue reading “Using wikis or blogs to manage knowledge in firms”
Traditional partnership model being tossed aside
The way most professional services firms are organized is the partnership, which more often than not is based on the premise that the people who bring in the most business earn the biggest cut of the take. Some firms have begun to question the wisdom of this model, and are moving to an organization thatContinue reading “Traditional partnership model being tossed aside”
Preview Microsoft Office 2007 in the browser
As long as your browser is Internet Explorer 5.5 or higher, you can take the latest edition of Microsoft Office for a test drive without having to install a thing. Experience the bliss of the ribbon, the new UI metaphor that has already won my heart over. I loathe still having to do my workContinue reading “Preview Microsoft Office 2007 in the browser”
Bring in specialists to build niche practices
An interesting article in WebCPA talks about how some small firms are building niche practices by bringing in “Champions” from the outside: Someone with an established reputation and contacts who can hit the ground running and jump-start the program in a new organization. Going outside the firm has many advantages: Target growth areas to focusContinue reading “Bring in specialists to build niche practices”