Value-based fees : how to charge what you're worth and get what you charge

**The latest edition of the leading guide to consulting engagement pricing, from the “Rock Star of Consulting” Alan Weiss** In the newly revised Third Edition of __Value-Based Fees: How to Charge – and Get – What You’re Worth__, best-selling author, speaker and renowned consultant Dr. Alan Weiss delivers a thoroughly updated guide to proposing, and receiving, consistently high fees that are based on the value you deliver to each client you serve. The author walks you through the many reasons that time-and-materials pricing models are outdated and inadequate and how to convert existing clients to your new value-based fee model. He also discusses fundamental new developments in consulting, including the remote delivery of services, the waning market power of the consulting giants, economic globalization, and the shift from project work to advisory work. Among the step-by-step techniques and strategies provided in the book, you’ll find: * How to establish value-based fees, including determining your unique value and creating a “good deal” dynamic * How to create, capitalize on, and market to trusted advisor relationships * How to implement fee increases immediately, prevent and rebut fee objections, create consulting products, and explore lucrative new fields Perfect for newcomers to the consulting field as well as time-tested veterans, __Value-Based Fees__ is an indispensable guide for every solo consultant, entrepreneur, and small consulting firm. Cover Title Page Copyright Page Other Works by Alan Weiss For the Third Edition Contents Introduction to the First Edition Introduction to the Third Edition Acknowledgments About the Author Chapter 1 The Origins of Value Abundance Agriculture and the Arts The Abundance Mind-set Why Your Presence Isn’t Required The Importance of Buyer Commitment, Not Compliance Critical Steps for Buyer Commitment The Buoyancy of Brands: How Brands Help Fees Creating Shared Success Chapter ROI Chapter 2 The Lunacy of Time-and-Materials Models Supply-and-Demand Illogic Ethical Conflicts of Interest and Other Minor Matters The Basis for Profit The Client Need Quandary Conflicts with Client Purchasing Policies Preserving Client Budgetary Limits Limiting Profits, or Why Not Just Forget Domani? Why Lawyers and CPAs Do So Poorly Attorneys Accountants Search Firms Educating the Buyer Incorrectly The Mercedes-Benz Syndrome Chapter ROI Chapter 3 The Basics of Value-Based Fees Focusing on Outcomes, Not Inputs The Fallacy and Subversive Nature of “Deliverables” Quantitative and Qualitative Measures and Criteria Quantitative or Objective Criteria Qualitative or Subjective Criteria Measuring the Unmeasurable Serving the Client’s Self-Interest The Subtle Transformation: Consultant Past to Client Future Perpetual Motion, Perpetual Progress Chapter ROI Chapter 4 How to Establish Value-Based Fees Conceptual Agreement: The Foundation of Value Establishing Your Unique Value Why Me? Why Now? Why in This Manner? Creating the “Good Deal” Dynamic The Incredibly Powerful “Choice of Yeses” Some Formulas for the Faint of Heart Chapter ROI Chapter 5 How to Convert Existing Clients The Litmus Test—Setting Priorities Offering New Value Unlimited Access New Services Wider Access Combined Buyers New Access Points “Membership” in Perceived Benefit Finding New Buyers Within Existing Clients Finding New Circumstances The Resistance Abandoning Business Chapter ROI Interlude: The Case of the Loaded Loading Dock Ethics and Fees, Fees and Ethics Chapter 6 The Sublime Nature of Trusted Advisor Relationships Optimal Conditions for Trusted Advisor Relationships The Prime Directive Choosing Time Frames and Creating Realistic Expectations Quick Tips for Gaining High-Value, High-Profit Retainers Organizing the Scope and Managing Projects Concurrent with the Retainer Capitalizing on Trusted Advisor Relationships Aggressively Marketing Trusted Advisor Relationships Chapter ROI Chapter 7 Seventy Ways to Raise Fees and/or Increase Profits Immediately Chapter ROI Chapter 8 How to Prevent and Rebut Fee Objections The Four Fundamental Areas of Resistance Resistance Point 1: I Don’t Trust You Resistance Point 2: I Don’t Need You Resistance Point 3: I Don’t Feel Any Urgency Resistance Point 4: I Don’t Have the Money to Pay You Maintaining the Focus on Value Boring In on the Subject Offering Discounts Full Payment in Advance Using “Smack to the Head” Comparisons Chapter ROI Chapter 9 Setting Fees for Everything Else Keynote Speaking: Don’t Charge for Your Spoken Words Factor 1: Establish Your Value Factor 2: Develop Options Factor 3: Use Speakers Bureaus Only on Your Terms Products Commercially Published Books Self-Published Books Other Stuff Exploring New Lucrative Fields Coaching Mentoring Situational Consulting And Now for Some Perspective Chapter ROI Chapter 10 Fee Progression Strategies Entry-Level Fees Transition to a “Going Concern” Transition to Peer-Level Referral Transition to the Brand Phase Branding of Approaches, Products, and Methodologies Branding One’s Own Name Transition to Thought Leader and Icon Alan’s Axioms for the “Good Deal” 1. You Are Entitled to Be Compensated for Your Value 2. Basing Fees on Time or Materials and Not on Value Is Simply Crazy (and Unethical) 3. Buyer Self-Interest Is Based on Results 4. Conceptual Agreement Is the Linchpin 5. Existing Clients Can Be Converted to Value-Based Fees 6. Trusted Advisor Business Is Discrete and Sound Business 7. There Are Scores of Ways to Raise Fees and Margins 8. You’ve Heard All the Objections Already 9. Nonconsulting Activities Are Lucrative 10. Identify Where You Are in the Fee Progression Strategy Chapter 11 Volatility Opportunity Value Doesn’t Dissipate Due to Distance We Don’t Have Time, We Don’t Have Money How Can I Help You? I Need Your Guidance Appendix A Questions for Qualifying the Economic Buyer Appendix B Questions for Establishing Business Objectives Appendix C Questions for Establishing Measures of Success Appendix D Questions for Establishing Value Appendix E Questions for Assessing Personal Value Contribution Appendix F The Difference Between Inputs and Business Outputs Notes Index EULA