Sometimes consultants and other service providers are
hesitant to charge a fair rate for their services.
Maybe they feel that the services they provide are so
basic that you really can't justify charging much or
anything for them.
Perhaps they feel that they don't have the knowledge or
experience that other consultants have.
Thus, they hesitate to charge fair rates because of a
lack of self-confidence. This is natural (especially
for new consultants). However, what you know and do has
real value.
By the way, I'm sure that most people find it more
appealing to deal with someone who is humble enough to
admit their limitations than someone who is arrogant and
cocky and not as great as they think they are.
To stay in business, though, you need to charge a fair
price for all of your services. Fair means fair to the
client but also fair to you.
You can enjoy increased consulting fees by developing
more self-confidence.
1. Don't Take Your Skills for Granted
First of all, we tend to take our assets for granted.
If you are an expert bookkeeper and good with numbers,
you may feel it's easy to do the work you do. Yes, it's
easy for you but not for others.
You may actually have an aptitude for what do. You may
have a gift that others don't have. Perhaps, through
hard work and applying yourself, you have developed a
marketable skill.
Second, even if someone were fairly good with numbers,
it might not be a good use of time for that person to
do the bookkeeping. By outsourcing this work, time can
be more productively spent on other activities crucial
to the business.
Bookkeeping may seem pretty basic but if you ask your
accountant to do it for you, he's going to charge you
extra. Why? It takes his (or his staff's) time.
Your services may also improve your client's bottom
line. That being the case, your client is profiting
from your services.
Thus, by realistically evaluating the value of your
skills and other assets, you can boost your
self-confidence for increased consulting fees.
2. Increased Consulting Fees Despite Inexperience
Just because there are people more knowledgeable and
experienced than you doesn't mean that you can't charge
for what you can do.
The top tax lawyers in the country may be more expert
than other lawyers but who can afford them? For most
clients, hiring them would be overkill.
Sometimes you might feel inadequate because you know you
are still learning. You realize that you don't know
everything there is to know about your field.
Who does? We're all learning! Get paid for your on-the-job
training.
If you know some things that your client doesn't and you
can help him improve his business, then you can offer
a valuable service.
Don't under-estimate the value of your services.
Again, self-confidence can lead you to enjoy increased
consulting fees.
3. Increased Consulting Fees for Additional Services
Many feel that their clients wouldn't pay extra for
certain additional services offered.
How do they know? Have they asked their clients?
Make your case for the extra fees. How could the services
offered help improve the profitability of your client's
business?
Replace unappreciative clients (who undermine your
self-confidence) with appreciative ones.
Selling value-added services is one way to obtain an edge
over your competitors. For example, a web designer who
is knowledgeable about search engine optimization could
help increase their client's targeted web traffic which
could result in increased sales and profits.
Premium services deserve premium rates.
In summary: Don't take your skills for granted. Lack of
experience doesn't mean that you have nothing to offer.
Charge for all your services. Yes, your self-confidence
can result in increased consulting fees for you.
RESOURCE BOX:
J. Stephen Pope, President of Pope Consulting Inc.,
has been helping clients to earn maximum business
profits for over twenty-five years.
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