Comments on: How to Improve Your Consulting Business by 327%

By: George Anderson

George Anderson — Fri, 05 Aug 2011 19:44:09 +0000

I like the post as well as the concept of Productizing. I provide Coaching for “disruptive physicians” and while I don’t charge by the hour,I offer a package deal for a six month period. I do not permit any alternative plans.

This has worked extremely well for me.

George

By: Jim Winslete

Jim Winslete — Sat, 19 Mar 2011 00:25:57 +0000

Jeffery,

IT Consulting is a tricky thing to provide flat rate fees on, or any repair industry for that matter. Things do and will go wrong. I believe it is best to keep most hourly fees but being extremely flexible when it comes billing time. Most of my invoices will have 5 hours of work logged and documented while only charging for 3.5, etc.

By: Success Factors

Success Factors — Sun, 25 Jan 2009 19:46:41 +0000

[...] 18: How to Improve Your Consulting Business (archive [...]

By: Jeffrey Summers

Jeffrey Summers — Sun, 04 Jan 2009 01:06:24 +0000

Even lawyers are starting to sell product packages.

Hourly fees are used by amateurs with low self-esteem who don’t understand you aren’t selling your time, you’re selling value. And because they do not believe in their value – or can’t communicate it (same thing) – they have to settle for being treated like a commodity – which they are.

The type of business is irrelevant.

By: Derek

Derek — Sun, 21 Dec 2008 22:23:26 +0000

@Rodger Of course it works for public relations. You can write media kits, draft public relations release, guarantee X amount of press contacts, include X amount of prepackaged communication letters.

Even with lawyers, they charge per job. Sure they charge hourly, but one of the main reasons they do that is to extract more money from their clients. It is simply more profitable, but it isn’t in the best interest of their client.

By: Rodger Johnson

Rodger Johnson — Sun, 21 Dec 2008 22:11:10 +0000

You make some great points here, but does it work for public relations? The industry I work in. I’m not sure. I think there’s some things we can turn into products, such as media kit “how-tos”. But there’s so much social science that goes into drafting a communication plan, that an expert is really want an organization needs. If that professional is a staff employee, great! But, if he’s a hired gun? The company will pay hourly, just as with attorneys. Nonetheless, excellent fodder.

By: Derek

Derek — Mon, 01 Dec 2008 23:50:51 +0000

@Bengt Thank you for having the conversation. You gave me some good insight via e-mail. Additionally, keep up the good work.

By: Bengt

Bengt — Mon, 01 Dec 2008 15:12:41 +0000

Derek asked Do you have a list of things that you expect to accomplish in those sessions?

In coaching the client sets the agenda and it can be changed during our sessions. Still, over six sessions with two weeks interval I have learned that they can accomplish what they want. All it takes is presence during sessions and action in between

By: Trevor

Trevor — Mon, 01 Dec 2008 03:02:14 +0000

Great post Derek =)

Hourly is great for the company but not for the customer because companies can take a bit longer to finish everything to get extra $$

while….

not hourly is great for the customer but not for the company because if the customer makes the company work longer, the company doesn’t get $$

Is there a compromise?

By: Derek

Derek — Sun, 30 Nov 2008 21:21:51 +0000

@Kenny While several people may offer the same service package, your key differentiators – the thing people will print out and show other people, will be what you give your client to take away from the consulting session. It will be hard for competitors to duplicate that since it won’t be posted on your website.