02 8752 3872 [email protected]

Have you been using a pricing model that is out of date or filled with challenges? Not sure you’re charging enough or at the right stage in your advice process? Or even sure if your clients would pay you more than they pay now?

YOU ARE NOT ALONE!

It’s more important than ever to ensure you have a robust, consistent pricing model that stands up to scrutiny AND delivers value to the business and your clients. One that represents value to every client, is consistently applied across your whole business, and yet is flexible enough to appropriately price each clients’ unique situation. One that achieves the profitability and sustainability you desire, while enabling you to serve the clients you wish to serve.

This 8-week group program will help you redesign, implement and master your pricing.

With the rapidly evolving profession, many advisers are being forced to rethink their business and to update their pricing model to increase their sustainability in line with the FASEA Code of Ethics, rising costs and a plethora of compliance and legislative change.

This can be a challenging exercise… finding the time is hard enough, but knowing how to structure this time to get the best results and an actual outcome (rather than a list of further questions to ponder) is paramount to success. Engaging a business coach directly will get great results (if you get a great one who knows exactly what you’re going through and how to help you), and Elixir can provide that for you… but that’s not always cost effective, especially for smaller businesses.

Thankfully, there is a proven process that you can follow, and we’ve packaged it into a series of intensive interventions where you can spend much-needed time focused ON your business, and get help directly from our team of expert coaches to future-proof your business in a cost-effective way. We’ve mastered the art of the Zoom meeting, and you’ll be surprised how well you can do a group workshop without leaving your  office. Far from a passive webinar, you’ll enjoy the use of face-to-face learning, breakout rooms, personal interactions and time for self-paced ‘homework’.

8-Week Online Group Workshop Program

After this 8-week  program you will know exactly how you’ll price your services and you would have already started improving things such as:

  • Knowing who your client base will be moving forward.
  • Knowing all the elements of your business you wish to improve in order to achieve sustainability.
  • Pricing your new clients.
  • Re-pricing your existing clients with a road map for implementing these fees.
  • Overcoming the initial shock and confidence issues preventing you from implementing new pricing.

Throughout this carefully curated program, you will benefit from:

  • Having all the tools, knowledge and thought processes you need to crunch your numbers and land on the right pricing for you and your clients.
  • Having access to research and benchmarking so you know where your pricing sits within the market.
  • Learning from others through interactive group based learning (yes we can still do that face to face online, we just won’t be belly-to-belly).
  • Enjoy bite-sized pieces of learning with a solid 2.5 – 3 hours of focused concentration every week for 8-weeks with implementation.

Every week will include workshops and hands-on implementation for your business

Workshop 1: Analyse current state

  • Before starting in this program you’ll need to do some pre-work on your financials so you’re ready to get stuck in.
  • Over the first workshop you’ll complete a full business analysis using our Business Success Wheel software, guided by facilitators throughout the interactive online workshop.
  • This is your opportunity to identify what you really need to focus on if your pricing is going to be successful.
 
 

Workshop 2: Reflect on options and challenges

  • Our video about getting your mindset ready will be available for viewing this week.
  • Introduction to the options you have and the types of models in your business then understanding these options to make considered choices.
  • Open discussions about the challenges you might have or the pre-existing beliefs you need to work through to move forward.

Workshop 3: Qualify & quantify value

  • We’ll help you define what you are actually pricing, ie who are the clients you are working with and what is your value proposition?
  • Define the clients you serve and build your client avatar(s).
  • Qualify and quantify the value you deliver.

Workshop 4: Define structure & cost inputs

  • You’ll use our Pricing Advice software so you can do some number crunching prior to this session.
  • You’ll define what will be included in your Base Fees and what will be priced in as variables.
  • You’ll customise your Pricing Playbook, to define your model and provide a training guide for current and future staff.

Workshop 5: Refine your pricing

  • We’ll guide you through a process to refine and price your new client experience,
  • You’ll also refine and price your existing client experience, to not only determine how to price for value, but also sustain high rates of agreement renewals.
  • You’ll obtain loads of ideas to improve what you deliver, through sharing ideas with the group and your experienced coaches.
  • You’ll capture your well-considered decisions in your finalised Pricing Playbook, and be ready to populate your Client Fee Calculator. 

Workshop 6: Repricing existing clients

  • We work through the common challenge of “Ok, I know what I should be charging but my clients aren’t paying that so how do I fix that gap?
  • Live case studies will be a significant contributor to this workshop as you talk about real life clients.
  • Build your confidence for fee conversions.
  • Hands-on learning through smaller breakout rooms and practice scenarios so you are ready to take on repricing conversations.
  • You will take the learning from this lesson and present to some actual clients booked in for review, prior to the next workshop.

Workshop 7: Pricing new clients

  • We reflect on the conversations you had with clients booked in for review and any challenges you had.
  • Great opportunity to share and learn with each other in this smaller group with hands-on experience.
  • Address challenges and build confidence for pricing new clients and articulating your value.
  • Work together through practice scenarios so you feel ready and confident to have these pricing conversations with new clients.

Optional Add-On

Workshop 8: Pricing Insurance Advice

  • We consider the options for how to account for insurance advice either as standalone advice OR when included in your comprehensive advice.
  • We consider options and you decide how to handle claims management .
  • Decide where commissions fit into your model (keep? rebate? offset? refund?).
  • Additional cost of $550 applies for this add-on.

Private Coaching Session

  • The final piece to the program is your own private follow-up coaching call with one of our experienced consultants.
  • Each business gets a one-on-one coaching session to work through any unique challenges you may still be experiencing and to refine their implementation plan.
  • Mapping your plan of where to from here and how you’re going to go moving forward. If you would like the support and accountability to keep evolving your business as you implement your new pricing model, you can engage with further coaching designed to suit you.

Program Fee: $6,600 per business

Includes all you need to redesign and implement your new pricing model:

  • A thorough Business Analysis using the Business Success Wheel system
  • 7 live online group workshops with your team, facilitated by experienced Elixir coaches
  • 1:1 private coaching session with an Elixir coach via Zoom after the event 
  • A copy of Sue’s “Worth Paying For” book and “Pricing Advice” book 
  • A digital copy of the Adviser Pricing Models Research Report 
  • 3 months access to Elixir’s Pricing Advice software 
  • 3 months membership to the Evolve Alliance 
  • Pricing templates you will need to implement your pricing model (e.g. Pricing Playbook, fee schedules, customised client fee calculator etc).
  • Plus – optional ‘Pricing your Insurance Advice’ workshop – additional $550 per business

Meet the Coaches

Some of the most experienced and enthusiastic coaches you’ll ever engage, the Elixir business coaches have a wealth of knowledge about what works in advisory businesses and have proven track records for helping their clients achieve greater success.

Sue Viskovic

Lana Clark

Graham Burnard

Monique le Roux

Feedback from advisers from previous programs: 

“We now have a well-defined ongoing pricing model that is robust, clear, simple to understand and explain to clients. All our advisers and consultants feel confident to hold a pricing discussion in all ongoing review meeting over the next 12 months, whether it is to uplift, reduce or switch off fees.”

 

“The program was a catalyst for us to review our pricing structure which we are now implementing. It provided a broad view on pricing with much input which helped us to define our pricing strategy.”

 

“We have the belief and confidence to charge what we need to charge”

Expressions of Interest Now Open

If you’re a licensee and want to put forward a group of your advisors who would benefit from this program or if you’re an individual advisory business ready to take your business to the next level,
simply complete the below form and Elixir will be in touch to discuss program dates which best suit you. 

There is no better time to work on your pricing! 

Not sure if the online group workshop Pricing Program is right for you?

Get in touch with us today, we’d love to chat!

Call us at 1300 683 680

Email us [email protected]