I wanted to document a year-end review of value billing. In my first posts on this blog I spoke of what it was like, the transition, and what it is like now without the timesheet. I have had more time to reflect on the true meaning of value billing and what it means to me. If I am not creating value for a client, I don’t want their money. When I came into the industry I was taught, find new client, bill the client, and HOPE some value was transferred. While the word value was never used I suppose my end product; a compilation, a meeting, a tax return was that value…..I guess? Since I have trashed the timesheet this idea of value has taken on a new meaning for me. It begins with trust. When I say trust, I don’t mean, “let me be the center of your financial influence.” trust. But, “tell me your expectations, and let me try to exceed them” trust. From trust I move to collaboration. “Will you work with my team, to exceed those expectations?” Lastly, acceptance. Along with being the key to serenity, acceptance of an expectation is where a valuable client relationship should be. Clients who get the most benefit from value billing are willing to trust, collaborate, and accept. When the three come together, I am able to pour the value out, like gravy on Thanksgiving stuffing.
Happy Holidays
