As a bookkeeping practice, we understand how critical it is to get your pricing structure right. At LJM Bookkeeping, we’ve moved away from the traditional hourly rate model, and while this shift can feel daunting, it brings immense benefits for both our clients and us.

The Problem with Hourly Pricing

When you charge by the hour, you're essentially being paid for your time rather than the value you bring. Whilst this might seem logical, it can actually limit your potential for growth and undervalue your expertise. After all, the faster and more efficient you become, the less you earn, even though your service quality has improved. This is something that we advise our clients as well as other members of the bookkeeping community. This method can be applied to any business.

Hourly pricing can also create uncertainty for clients. If they don’t know how long a task will take, it can be hard to budget, leading to discomfort around potential costs. Our bespoke pricing gives our clients transparency so they always know what they are paying each month and what they will get for it.

Why Value-Based Pricing is the Way Forward

At LJM Bookkeeping, we believe in value-based pricing. This approach focuses on the impact of our work rather than the hours spent. We’re not just processing transactions; we’re giving business owners the financial clarity they need to make informed decisions and grow their businesses.

By moving to value-based pricing, we’re able to create bespoke packages tailored to the unique needs of each client. This allows us to factor in the complexity of the services required, the size of the business (such as turnover), and the volume of transactions, rather than simply calculating time spent.

How We Tailor Packages

Our pricing model is built around the specific services each client needs. For example, a client with high turnover and a large volume of transactions may require a more intensive bookkeeping service than a smaller company with fewer transactions. By tailoring packages, we can ensure clients only pay for the services they need and that they receive the highest level of support possible.

We also recognise that businesses grow and change over time. That’s why our packages are flexible, allowing us to adjust our support and pricing as your business evolves.

The Benefits of Moving Away from Hourly Pricing

Clarity for Clients

Our bespoke packages mean clients know exactly what services they are paying for upfront. This creates a clear, predictable cost structure that helps with budgeting.

Focus on Value

We’re able to demonstrate the true value we bring to your business, rather than being restricted by time. Our goal is to help you succeed, and our pricing reflects the impact we have on your financial health.

Efficiency

With hourly pricing, efficiency can feel like a disadvantage. However, with value-based pricing, our goal is always to deliver high-quality, efficient service without worrying about how it impacts the bill. It’s all about getting the best result for your business.

Whilst moving away from hourly pricing can seem daunting, it is a step forward in both demonstrating the value you offer and creating stronger, clearer relationships with your clients. At LJM Bookkeeping, our bespoke packages are designed to meet your needs while ensuring you get the most out of our services. We focus on the value we bring, and in doing so, we help our clients achieve financial success.

If you’re ready to discuss how value-based pricing could work for your business, contact us today to explore our custom packages.