292 - The End of the Billable Hour - With Tim Williams

The Futur with Chris Do

The Futur

Arts, Education, Marketing, Design, Business, Self-improvement

4.9 • 998 Ratings

🗓️ 22 May 2024

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Beyond Time Sheets In this episode, host Chris Do features a deep dive into the transformation of pricing and positioning strategies within the advertising and professional services industries, guided by insights from Tim Williams, founder of Ignition Consulting Group. Williams discusses the flawed nature of hourly billing and advocates for a value-based pricing model that focuses on the outputs or results rather than the inputs or time spent. He highlights how agencies can innovate by developing a product mindset, shedding light on the necessity of adapting to changes brought by AI and market demands. The discussion also explores the idea of agencies investing in or partnering with brands, shifting towards a model where creative services are productized, thereby solving specific client problems. Williams emphasizes the importance of agencies moving away from traditional billing methods to embrace a future where they price based on value delivered, not hours worked. Check out today's guest, Tim Williams: ➤ Website | LinkedIn | Book | Blog Check out The Futur: ➤ Website | Courses | LinkedIn | Podcasts ➤ Instagram | Facebook | Twitter | TikTok | YouTube Check out Chris Do: ➤ Website | LinkedIn | Facebook | Instagram | Twitter ➤ TikTok | Threads | Zaap | Clubhouse | Behance Learn more about your ad choices. Visit podcastchoices.com/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You don't walk into a Apple store and say, I really like this new iPhone, but before I pull the trigger, I need to know what was Apple's actual cost, right?
0:09.7	Sellers generally do not disclose their costs to the buyer.
0:14.0	Somehow, in our business, that's become normalized. Today on our podcast I'm thrilled to welcome Tim Williams who is a
0:34.8	luminary in the world of branding and marketing. As the founder of
0:37.7	Ignition Consulting Group Tim has revolutionized how professional services
0:41.2	approach positioning and pricing.
0:43.3	His groundbreaking book,
0:44.8	positioning for professionals, has become a must read for anyone looking to carve out a
0:48.9	unique space in a crowded marketplace.
0:51.0	Tim's expertise doesn't just stop at consulting his insights into value-based pricing and
0:56.3	specialization have transformed businesses worldwide.
0:59.3	Tim, welcome to the future.
1:01.3	Wow, thanks, Chris.
1:02.3	That's a great way to start.
1:04.4	I appreciate that.
1:06.0	Thank you so much.
1:06.7	Well, our mutual friend, who I have great admiration
1:09.4	for Ron Baker, it said, you must talk to this person.
1:12.4	So here I am, I'm so thrilled thrilled I think you and I've done the little dance in terms of like getting our time in sync and here we are so I know that you speak a lot about pricing and positioning strategies for agencies and before we go a little bit
1:25.6	deeper here can you just tell us a little bit about your background and your experience in the
1:30.0	agency world?
1:31.0	Yeah I'm a career agency guy.
	...

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