The Option of Multiple Yeses

Always give the prospect multiple options. Not giving options usually means you just increased your chances of not getting their business. Know any stores that sell one thing and one thing only? Giving people options allows them to feel in control, which always increases the odds that they will buy. As you put your proposal together, give some thought to how you ... Continue Reading

Consulting Proposals as Confirmation Not Negotiation

There's a huge misconception about the purpose of proposals for business consultants. Many business and management consultants mistakingly view them as a sales vehicle. If this is you, listen up. The mistake begins when the consultant receives an inquiry from a prospective client. They immediately send over a stock proposal that explains their consulting services, ... Continue Reading

The Fastest Way to Increase Consulting Profits

If you're still charging by the hour and are happy trading your time for money then skip this article. Best of luck to you. But if you understand that value-based fees are the single fastest way to exponentially increase your income without having to work longer hours, then read on. First, understand that value-based fees take you out of a task-oriented ... Continue Reading

Determining Your True Hourly Base Rate

Time to start deciding what you will charge. The first thing you need to do is to determine your “true hourly base rate.” However, this rate is for your information only, not for your clients. It is the hourly price you will use to calculate what you will charge based on the overall effort you will put in, and the return you would like to get for that effort. It is not ... Continue Reading

The One Reason Why You Aren’t Charging What Your Worth

In consulting, perhaps one of the most recurrent reasons for poor profits is undercharging. It’s unfortunate, because it has less to do with not understanding what should be charged and more to do with the consultant’s lack of confidence, insecurity, or most commonly desperation. Let me share the story of a friend of mine named John Butler. John was a seven-figure ... Continue Reading