How to set the best consulting fees

Perhaps one of the most reoccurring reasons for poor profits in consulting is under charging. It’s unfortunate because it has less to do with not understanding what should be charged and more to do with lack of confidence, insecurity or most commonly desperation.

In this episode we will cover the best practices in which pricing models work best for consultants, how to set those fees and which ones work best for what solutions. I will also take your calls with specific questions or issues you have.

Specifically we will explore:

• Determining your true worth
• Hourly and Per Diem fee structures
• Retainer fee structures
• Task-based fee structures
• Value-based fee structures
• Project-based fee structures
• Contingency-based fee structures
• Equity-based fee structures
• Thoughts on pricing in general
• Avoiding the low price leader trap
• Proven methods to protect margins