So Very Close!

In an on-line article in Accounting Today entitled Value is in the eye of the beholder, Deena Katz writes eloquently about the subjective theory of value. For that I salute her.

However, she misses the mark when it comes to understanding exactly what she is providing. She writes:

Think about your services.

First of all, they are services (not goods), so people have a hard time determining their value. If you were selling toasters, it would be pretty easy for clients to pick one up, look it over and get a sense of how that item would look in their home. But no matter how specific we are about what we can and will do for our financial planning clients, it’s not easy for them to visualize the impact or outcome.

Close, but not quite.

What she misses is that her organization does not even sell service, it sells access to and/or transfer of knowledge.

PS – I wrote this as a post because Accounting Today does not allow for comments on articles.


  1. Ed, that’s exactly why we call our customer agreements Knowledge Transfer Agreements.

  2. I would say benefits are in the eye, value is in the heart.

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