In this insightful episode of "The Concierge CPA," host Jackie Meyer is joined by Geraldine Carter, Founder and Business Coach for a deep dive into the complexities of pricing and niching in the accounting profession. This engaging conversation sheds light on how accountants can optimize their practices for greater efficiency and client satisfaction. The episode covers a range of topics, including the pitfalls of traditional pricing models, the power of value pricing, and the transformative impact of specializing in a niche market. Jackie and Geraldine, both seasoned professionals, share their personal experiences and offer practical advice for accounting firm owners looking to elevate their practices.What you'll hear in this episode:[1:07] Introduction of hosts and overview of the episode.[1:27] Discussion on common pricing challenges in accounting.[3:33] The historical perspective on billing models in accounting.[6:14] Exploration of value perception and setting client expectations.[8:42] Insights on the implementation of value pricing in tax planning.[13:05] Strategies for identifying client pain points and customizing solutions.[16:27] Ethical considerations in estimating tax savings.[18:37] The development and impact of specialized tax advisory packages.[23:51] The importance of niching down in accounting.[29:28] Leveraging digital products and subscription models in niche practices.[32:24] Overcoming common misconceptions and challenges in niching.[36:29] Insights on client acquisition in high net worth accounting.[39:25] The journey and benefits of transitioning to a niche practice.[41:10] Closing thoughts and personal recommendations.References:Business Strategy for CPAs by Geraldine Carter: https://www.businessstrategyforcpas.com/Connect with Geraldine Carter on LinkedIn at https://www.linkedin.com/in/geraldine-carter/Visit Geraldine's Website: https://www.climateride.org/Connect with Jackie on Instagram @jackiemCPACheck out more of Jackie’s work at https://www.jackiemeyercpa.com/