How William Hamilton Breaks Down Pricing, Packaging, and Value for Accounting Firms

Pricing is one of the most persistent challenges inside accounting firms. It influences margins, capacity, hiring, and the type of clients a firm attracts. Yet many firms still rely on outdated pricing habits that quietly create stress across the business.

On an episode of the Growing Your Firm podcast, David Cristello spoke with William Hamilton IV, founder of SmartPath, about why pricing problems often sit underneath many operational issues firms experience. William has spent more than a decade studying how accounting firms price services and where those models tend to break down.

Rather than focusing on theory, the conversation centered on how firms can think more clearly about pricing, packaging, and value in real client situations.

Why Pricing Problems Show Up Everywhere

William shared a perspective that resonated strongly with firm owners listening. Pricing is not an isolated decision. When pricing is misaligned, firms often compensate by adding more clients, stretching teams thinner, or taking on work that does not fit their expertise.

Over time, these decisions compound. Firms may stay busy but feel stuck. Capacity becomes tight, margins shrink, and growth feels harder than it should.

In practice, pricing issues often surface through:

• Chronic overwork despite steady revenue

• Difficulty hiring or retaining team members

• Client resistance when fees increase

• Reliance on low-margin services to stay afloat

Where SmartPath Fits in the Client Journey

SmartPath focuses on the very beginning of the client relationship. While workflow and proposal tools help firms deliver services, SmartPath helps firms define value before a proposal is ever created.

William described SmartPath as an engagement model that helps firms clarify what a client wants to achieve, structure services around that goal, and price those services appropriately. The emphasis is not on templates first, but on discovery and decision-making.

This front-end clarity gives firms a stronger foundation for pricing conversations and reduces friction later in the engagement.

Why Offering Multiple Options Improves Conversions

One of the strongest insights from the conversation was around pricing psychology. When firms present a single option, clients default to a yes or no decision. When firms present two or three options, clients shift into evaluating which option fits them best.

William noted that firms see higher conversion rates when clients are given choices, as long as the options are clear and limited. Too many choices can overwhelm prospects and reduce clarity.

Most firms benefit from:

• Offering at least two pricing options

• Clearly differentiating what each option supports

• Avoiding excessive tiers that dilute value

When Pricing Should Appear on Your Website

William recommends that many firms display starting or baseline pricing on their websites. This helps filter out prospects who are never going to be a fit and protects a firm’s time from excessive free discovery calls.

That said, he also emphasized that final pricing should still be customized. Conversion rates improve when clients feel the package reflects their specific situation, rather than forcing them into a rigid tier that may not align with their goals.

Packaging Services Around Client Progress

Instead of leading with services, William encourages firms to anchor pricing to progress. Clients care less about line items and more about outcomes.

A package becomes more compelling when it connects directly to something tangible the client wants to achieve, such as buying a rental property, reducing tax exposure, or preparing for a financing event.

This approach applies whether firms productize repeatable packages or customize engagements for individual clients. What matters most is clarity around the outcome.

The Five Core Categories of Value

William outlined five broad categories where most accounting firm services fall. Each carries different pricing and margin potential.

• Cleanup work to get books accurate and usable

• Setup services that reduce future risk and liability

• Done-for-you management that saves owner time

• Tax reduction planning focused on lowering tax exposure

• Strategic or CFO advisory work tied to long-term decisions

Treating all services the same often leads to underpricing. Understanding these categories helps firms price with more intention.

Where the Highest Profit Potential Lives

Among the many value points William tracks, strategic advisory and CFO-level work consistently deliver the highest margins. These engagements often involve guiding clients through major decisions such as exits, acquisitions, financing, or long-term growth planning.

Because the value is tied to high-impact outcomes, firms can price these services far beyond hourly equivalents when they are positioned correctly.

The Least Profitable Work Firms Should Watch Closely

William also highlighted services that are notoriously difficult to make profitable without strong systems in place. These include:

• Individual tax preparation

• Payroll reporting

• Basic reconciliation work

These services often require automation, outsourcing, or strict scope control to avoid margin erosion. While they may still play a role in a firm’s offering, they should be managed carefully.

Why Discovery Drives Better Pricing

Poor discovery leads to vague pricing. When firms accept surface-level answers, they miss the motivations that drive client decisions. Strong discovery involves asking thoughtful follow-up questions that uncover what the client actually wants to accomplish.

When discovery improves, pricing becomes clearer and easier to defend. Firms stop guessing, and clients feel understood rather than sold to.

The Bigger Shift Firms Must Make

One of the most important themes from the conversation was mindset. Pricing well requires firms to move beyond a purely technical worldview and into a client-centered one.

Firms that understand both perspectives are better positioned to set prices confidently, attract better-fit clients, and build more sustainable businesses over time.

Conclusion

Pricing is not just a financial decision. It shapes how firms operate, who they attract, and how sustainable growth becomes over time. When pricing is unclear or misaligned with value, firms feel the effects everywhere, from overworked teams to stalled margins.

William Hamilton’s approach reinforces that better pricing starts long before a proposal is sent. Firms that invest in discovery, align packages to client progress, and understand where real value lives position themselves to charge confidently and grow with intention.

For accounting firms looking to improve profitability without burning out their teams, pricing clarity is not optional. It is foundational.

Frequently Asked Questions

Why do pricing problems affect so many areas of an accounting firm?

Pricing determines margins, capacity, and the type of clients a firm attracts. When prices are too low or disconnected from value, firms compensate by taking on more work, stretching teams thin, or offering services that are hard to deliver profitably.

Should accounting firms always offer multiple pricing options?

In most cases, yes. Offering two or three options helps clients shift from deciding whether to buy to deciding which option fits them best. Too many options, however, can create confusion and reduce conversions.

Is value-based pricing better than hourly billing?

Value-based pricing tends to align better with client outcomes and long-term profitability. Hourly billing can still be useful early in a relationship when scope is unclear, but it works best as a temporary step toward clearer engagement pricing.

Which services are typically the most profitable?

Strategic advisory and CFO-level services often deliver the highest margins because they are tied to major decisions such as growth planning, financing, or exits. These services are priced based on impact rather than time.

Why is discovery so important to pricing?

Discovery uncovers what a client truly wants to accomplish. Without it, pricing becomes generic and harder to defend. Strong discovery leads to clearer packages, stronger client trust, and better pricing confidence.

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