Increased Consulting Fees Through Self-Confidence
by Stephen Pope
Published on this site: January 16th, 2006 - See
more articles from this month
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.
- 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.
- 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.
- 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.
J. Stephen Pope, President of Pope Consulting Inc.,
has been helping clients to earn maximum business profits
for over twenty-five years. To learn more about consulting
and other profitable Work at Home Small Business Ideas, visit
http://www.yenommarketinginc.com/consulting.html
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