May 31, 2018
The billable hours model means you can only sell one hour to one customer at a time. Once you’ve sold that hour, you can’t repackage it and sell it again. It’s gone forever and, honestly, it’s not very valuable.
In this podcast episode, Vincent Hofmann, Design Director at Inquisition and SiGNL and Co-Founder of The GoodWork Society, talks to Ed Kless, Senior Director of Sage Accountants, about why accountants will never create true value for their customers by selling their hours, which forces them to compete on price and efficiency.
They discuss how automation and artificial intelligence mean that accountants can now let bots handle the mundane, repetitive tasks so they can focus on creating a true non-rival asset, defined by knowledge, expertise and effectiveness. With the new business model, accountants create value for themselves and their customers because they turn their focus to WHY they are in business, rather than being caught up in what they do and how long it takes them to do it.