In August of 2004 I traveled to Lancaster, Ohio to present a Value Pricing workshop to Snyder & Company. I’ll always remember this trip for many reasons, one of which is Victor took me to the Accounting Hall of Fame, located in the business school at Ohio State University.
The partners immediately grasped the opportunity of transitioning from hourly billing to Value Pricing. We also discussed the benefits and costs of timesheets, with me arguing strenuously they trash them.
Well, they did. As of January 1, 2008, Snyder & Company is a Timeless firm, both for pricing and as a misguided means of measuring so-called “productivity.”
Here is the email I received yesterday from one of the firm’s partners, Victor Christopher:
Hope all is well. Not sure if you remember me or not, but you visited with our firm a few years ago to help us get our arms around the Value Pricing Philosophy. It’s been a long process, but we’re finally completely finished billing by the hour.
…And I am proud to say that since January 1st, I’ve had zero billable hours…since we officially did away with timesheets on January 1! Much to the surprise of others in the industry, the walls did not come crumbling down around us…work is still getting completed…staff are still getting paid (and partners too)…and our clients are happy.
We’ll have to catch up at some point later this year.
To all the skeptics out there, take a good look. This is the future of the profession. Deny it all you want, but it’s happening every single day.
Your dogma of timesheets has been tossed onto the ash heap of history—and not a moment too soon.
Congratulations Snyder & Company for becoming one of our Trailblazer Firms.