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The conventional wisdom in the accounting profession is that, more and more, the services being offered by professionals are rapidly becoming commodities. Further, because of consolidation, labor shortages, intense competition from outside the profession and increasingly sophisticated buyers, prices will be driven down and profit margins mercilessly squeezed.
This view is more conventional than actual wisdom. There is no such thing as a commodity. Anything can be differentiated in the marketplace and the inherently personalized services of professionals are no exception. As the economic value base shifts from a service economy to an experience—and ultimately, a transformation—economy, the opportunities for professionals to create a unique, personal experience for their customers are only limited by the constraints of our imaginations.
CPAs in public practice and industry looking to create a better customer experience for competitive advantage.
Ronald J. Baker is the founder of VeraSage Institute, dedicated to teaching value pricing to professionals and bettering the professions, and a radio talk-show host on the VoiceAmerica.com show, The Soul of Enterprise: Business in the Knowledge Economy. He has been an instructor for the CalCPA Education Foundation since 1995, teaching 15 courses, and is the best-selling author of six books, including The Firm of the Future, Pricing on Purpose, Measure What Matters to Customers, Implementing Value Pricing, Mind Over Matter, and The Soul of Enterprise: Dialogues on Business in the Knowledge Economy.
Baker has toured the world, spreading his value-pricing message to over 150,000 professionals. He has been appointed to the AICPA Group of One Hundred; named to Accounting Today’s Top 100 Most Influential People in Accounting list in 2001-2007 and 2011-2016, and voted number six, nine and three on its Top 10 Most Influential People in Accounting list in 2012-16; selected as one of LinkedIn’s 150 Influencers, with over 220,000 followers; and received the 2003 Award for Instructor Excellence from the CalCPA Education Foundation.