The Five Cs of Value

BY RONALD J. BAKER

Editor's note: This is a Web-exclusive exhibit for "Pricing on Purpose: How to Implement Value Pricing in Your Firm."

For a firm to price on purpose, it must understand the Five Cs of Value:

1. Comprehend value to clients.

2. Create value for clients.

3. Communicate the value you create.

4. Convince clients they must pay for value.

5. Capture value with strategic pricing based on value, not costs and efforts.

These five components determine the wealth-producing capacity of any firm, and will drive internal profits in the long run. 

 

SPONSORED REPORT

Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.

QUIZ

News quiz: IRS warning on cyberattacks and a change in pension rules

Once again, the IRS sounds the alarm about a threat from cyberthieves. See how much you know about this and other recent news with this short quiz.

CHECKLIST

Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.