Pricing Group

Is your firm struggling with pricing? 

Are you seeking to expand your knowledge, skills, and tools to make pricing a core competency for your team? 

Is your firm still engaged in cost plus pricing? Are you input-focused and not outcome-focused when pricing? 

How much money and value do you leave on the table?  

As your Chief Value Officer, the ReNew Pricing Initiative will help you overcome self-limiting beliefs and boost confidence, understand client psychology, price theory, best practices and master the art of pricing.

Expand the limits of your firm with our groundbreaking program.

Topics will include:

  • Self Esteem, Confidence, and a World of Abundance
  • Confidence in Pricing
  • Firm as the #1 Client
  • Creating and Capturing Value
  • Price Theory.  Anchoring, Relativity and the Pain of Paying
  • Developing and Implementing Best Practices Pricing Habits
  • Busy Season Pricing
  • Why it’s important to NOT buy work
  • How to approach existing clients with Pricing Challenges
  • Key Language in the Pricing Process
  • ReNew Sales Ladder Approach: How to Diagnose Clients

What’s included

ReNew Pricing Assessment:  Pricing on purpose is a constant struggle for firms.  A business is defined by the value it creates for its customers.  There are business model issues in our industry.  We also know that firms can solve many of their “hours problems” (workload compression) by changing their business model.  Gaining expertise in pricing is critical to the profitability and sustainable success of your firm.  The first step is being able to solve your challenges is to find out where you are today by performing a ReNew Pricing Assessment.  The ReNew Pricing Assessment is a detailed quantitative analysis of your firm where we will walk your through pricing and profitability from a number of perspectives:

  • Hours
  • Accounts Receivable
  • Work in Process
  • Clients
  • Team
  • Service Line
  • Season

After the assessment, we will provide you with a written high-level summary of our findings/recommendations.  The action plan will give you the details you need to improve your firm.

Bi-Monthly Online Group Sessions: Catalyze growth and maximize profits with our group coaching sessions designed to change your mindset and provide best practices and how to’s.  In addition to the group sessions, there will be:

  • Required reading
  • Monthly Accountability Reporting based on your Annual Pricing Goals
  • Peer Review: For each calendar year you will be assigned a Peer Review Sponsor Firm. It is expected that you will schedule at least monthly pricing calls to hold one another accountable on pricing progress.
  • Bi-Weekly Focus: Bi-Weekly ReNew Pricing College will have you focus on a key pricing topic.
  • Case Studies:  Each quarter a firm will be selected to present a Pricing Case Study and other students will provide feedback.
  • Best Practices Resources: Obtain faster, better, results without having to reinvent the wheel with our one-stop shop resource center filled with impactful and proven strategies, templates, and articles including the Assessment Process, Engagement Letters, Required Reading, Training and Education and Supplemental Pricing Material.
  • ReNew Community:  Exchange ideas, network with, and develop lasting relationships with like-minded professionals.
  • ReNew Network: Get access to our Strategic Partners who are in alignment with your core values and can help you get to your next level more efficiently and effectively.
  • Reactive Support:  Unlimited access for 2 years to a ReNew Strategic Thought Partner to address any challenges that your firm is facing (phone and email).  Receive fast, concierge level service.  Peace of mind is priceless.

Requirements

To be eligible for the ReNew Group Membership, you must have completed the ReNew Performance Assessment.

With over 20 years’ experience working with thousands of firms to identify short and long term action plans to improve cash flow, profitability, and productivity, the ReNew Group has developed a unique and proven framework which includes the 7 key profit drivers derived from industry benchmarking data.

Our systematic approach gives you an intimate and 360 view of your firm, it’s leadership, and where the strategic and operational strengths and opportunities are.  The ReNew Firm Performance Review allows us to look under the hood at key numbers to determine where your strengths and weaknesses reside and where early gains can be made.

What you can expect:

As a part of the assessment, your firm will complete a comprehensive ReNew Profile covering the key functional areas of your firm including:

  • Why you do what you do?
  • Vision
  • Strategy
  • Marketing
  • Sales
  • Client Service
  • Pricing
  • Culture
  • Systems and Processes (Workflow)

Over the course of 4-6 weeks, we will partner with you to create an action plan and alignment around your firm’s priorities.  After the assessment, we will provide you with a written, high-level summary of our findings and recommendations.  We will also provide a detailed summary of your personality profile to support your development as a leader.

If you have questions about our Membership Program, e-mail Lucy Keoni, Market & Programs Manager at lkeoni@renewgroup.com.

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