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You might have heard of this story: One day, Picasso was sitting on the terrace of a Parisian café, minding his own business, doodling away on a napkin. An admirer passed by and asked if he could purchase the napkin.
“Sure,” Picasso said. “That’ll be X amount of French francs.” To which the admirer replied: “That much money for something that only took you 5 minutes? You must be joking!”
Undeterred, Picasso responded: “5 minutes? No, my friend. Decades. I’ve spent my whole life perfecting my craft. And besides, you’re not purchasing my time, are you? You’re paying for the result.”
How should you calculate your consulting rate?
We’re not all artists. But there’s a really important lesson every service provider should take away from this little anecdote: If you habituate clients to paying for your consultancy on a time-based rate, they’ll disregard the actual value of what you’re offering. Even if you’re a genius like Picasso. The bottom line is this: think and charge in terms of projects rather than in terms of time.
What you’ll learn:
In this consulting mini-guide, we focus on why and how you can evolve from hourly-based invoicing to project-based invoicing. We’ll dive into questions like:
- How to get ready as a consultant to charge fixed project prices
- The role of automation in the shift toward project-based consulting
- How to set fixed consulting rates for projects
- How to negotiate fixed consulting rates
- How to take it even further and start productizing your consulting
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What are the goals of this mini-guide?
If you’re looking for concrete tips on how much to charge being a consultant, you’re not going to find the numbers here. What you are going to find are the things you need to take into account when defining your price (and yes, that includes the profit you want to make).
When you’ve finished reading the mini-guide – and checking out the various resources we’ve included in it – we hope you will do the following:
- Understand why project-based consulting rates are crucial for you to grow
- Start defining the specialized projects and deliverables of your consultancy
- Feel comfortable to start calculating project-based consulting rates
- Look at how you could digitalize parts of your services to be a future-proof firm
And yes. We also hope that you’ll recognize Pointerpro could be an interesting tool and resource for you.
That’s why we’re offering this mini-guide for free, without asking for any contact information.
We just hope you’ll enjoy the read and reach out to us when our assessment-building tool or our people can be of use!
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