As soon as you start running your firm or practice, there's one thing that undoubtedly comes up as you start to grow... the number of accounts receivable and invoices that you now have to track. For many, this is commonplace. But in this article, I want to explore the option to remove AR once and for all! With that in mind, let's explore Value vs Fixed Fee Billing.
Fix Fee BillingPrinciples of Fix Fee:
- One price fits all (for a specific service)
- Commonly presented as a package
- Commonly has three options (Standard, Premium, VIP)
- Advantage: Automated payments, can (typically) scale easily.
Value Based BillingPrinciples of Value Based:
- Price based on client value, not time
- Customizable to client needs