What should I charge? (why the most common advice is wrong)
Whether you’ve been consulting for years or haven’t yet landed your first client, what I’m covering here applies to you. And it addresses one of the biggest questions you ask: What should I charge?
First, I’m going to talk about one of the most common pieces of advice about consulting, why that advice is dead wrong, and how it’s sabotaging your business.
Then, I’ll give you a hint of what I have in store over the next few days for you.
The most common consulting advice, and why it’s dead wrong.
Over and over, everyone says and ASSUMES you should charge an hourly rate. Yes, that’s what virtually all consultants do, and it’s what I did starting out.
But charging hourly actually creates potentially HUGE problems:
- Charging hourly left me stuck not being able to charge more than a “ceiling”. What client is happy to pay you $500/hour or $1,000/hour?
- Charging hourly created resistance from clients who had more formal training and “prestige”, and didn’t want to pay me close to what they charged. I work with attorneys who routinely charge $250 – $450/hour. And I come along, not being an attorney, and think I can charge rates similar to theirs?
- Charging hourly has the insidious effect of making me LESS efficient, since it was to my advantage to bill more hours instead of solve the problem quickly. This is the opposite of how you should act as a trusted advisor for your clients. If you’re not acting as a trusted advisor, you’re not going to have high-value clients, period.
If I wanted to earn more, I had to work more. And that wasn’t the goal I wanted. Yes, I wanted to earn a decent living, but I also wanted more flexibility and freedom.
Chasing more and more billable hours was a treadmill I didn’t want.
Fortunately, there are lots of alternatives–even if you still want or need to charge hourly.
So, back to one of your biggest questions: What should I charge?
Yesterday, I announced I’m launching a mini course. Today, I’m revealing that the mini course will cover pricing.
I’ve created this course not only because it’s one of the most common questions you ask, but because it’s:
- a simple, easy first step if you’re new to consulting, and
- a bridge to more revenue and better clients if you’ve been consulting for a while.
“But I already know how to price…”
Yes, you may have a price structure.
But I virtually guarantee you’re leaving money on the table. After testing a few things myself, that’s exactly what I realized–even though I’d been consulting for years and “knew what I was doing.”
There’s a wise saying: What got you here won’t get you there.
In other words: Different results require different actions.
Are you exactly where you want to be? Not likely. This mini course on pricing will give you the exact, actionable steps to implement right now.
“But I don’t have any clients…”
Not to worry.
The strategies and tactics you’ll learn will help you land high-value clients instead of low-budget, high-maintenance, discount-driven clients that suck your energy and prevent you from getting ahead.
It won’t be free, but it’s going to be something EVERYONE can afford.
Why will you have to pay to get access?
Because research shows that when you pay–even a tiny amount–for something, you value it more. And that means you’re more likely to implement it and get results. My goal is to help you get from where you’re at to where you want to be–whether that’s earning some cash on the side, or earning enough so you can ditch your day job. The more action you take, the faster you’ll create the results you want.
Anyone can join, but to get access, you’ll have to join. I might re-open the course in the future, but like I’ve done in the past, the price will go up.
Tomorrow, I’ll share a great cringe-worthy consulting story one of you emailed–it’s a great one.
For now, email me or comment below, and tell me 2 things:
- Have you ever felt like you under-charged a client or been afraid to be firm about your pricing? Every consultant has done this. Tell me what happened, what you said, and how you felt afterwards.
- If you knew how to be confident with your pricing, what would it mean? How would you feel? How would that impact your business?