What rate should I charge?
Aug 31 , 2015 07:23 AM
We don't set rates for experts but we do understand pricing can be awkward. As with pricing elsewhere, there are some tried and tested methods of arriving at a price:
1. Look at what competitors are charging. If we have someone in your industry already, you could go relative to this. Or perhaps there are industry consultants who declare their prices elsewhere on the internet.
2. Charge what the market will bear. This can be found out by asking people in your industry what they would pay for such a service. Add a little because people don't volunteer higher prices!
3. Perhaps the easiest and most sustainable method is to decide what the minimum hourly rate you would accept is. You should feel valued and remember just how precious your advice is.
Consultancy is generally well paid and for good reason. You're speeding up someone's business growth and assisting them with things that few people can help with. The client is likely to save and make money (great ROI), see speedier growth, gain confidence in an idea... all highly valuable. Demand is high for such advice, supply low, and accurate matching of industry experts is even shorter in supply.
You can always raise prices if you see more demand than expected and you need to manage your time more. Like any marketplace, some people will buy on price alone but most will look at value - price relative to what they think they will get out of it.
Although we can't provide an exact fee suggestion, we hope the above helps to make the process easier. Please start anywhere rather than ruminate. You can adjust your fees at any point and you only have to honour prices on calls that have already entered the appointment scheduling process.