How Much to Charge as a Consultant - Value-Based Pricing Strategy
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- เผยแพร่เมื่อ 27 ก.พ. 2019
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Makes total sense that you have to factor in more than just an hourly charge. You need to think about the value you are providing to the client, as well as your client acquisition costs. But the problem with pricing is that most people are scared to charge what they are worth, they think they will scare customers away and so they find some sort of middle ground that has already been determined by competitors. It takes balls to set a price and stick to it.
Understand this concept and it sounds very intuitive, but the question is how to determine how much is the value you are providing worth to the client? What tools and strategies to use to get the value? It is also different by industry you are providing services for. Also, some clients are biased to pay by hourly rates.
Exactly my question. Did you ever get an answer to this question? Maybe you can share. Thanks
@@chukwumaudokporo2586 No I haven't recieved any response to this :( I think this really depends on what clients are used to pay for, if it is based on value then you need to negotiate much more to met with the price.
@@jano12330 Thank you for your response.
How much more money is your client getting due to your advice. Is this an ongoing increased profit? Or one time? If the client doesn't get your information will they lose sales? Will they overspend? Really there's no rules, it depends on how much money you want to deal with their problem, then selling why you're info is worth it to them.
@@vincenttrovato Yeah I agree, but you don't have always information about the impact your advice on the client, and clients are not always willing to provide how much they will earn or loose. Unless you have really deep connection with the client and you know the industry and client's strategy very well.
This brings me back to my question how to get to know what is the value?
how can i convert any request into a problem costing money? For example, if someone wants a piece of music, or a portrait?
Wow so well explained.
Glad it was helpful!
Hard to do solution billing for salon-type services. How much is your self esteem worth? And after what point will paying too much be perceived as detrimental to your self esteem?
Great tips! 10th of the value sounds totally reasonable.
Glad it was helpful!
How do you assign value?
How do you quantify the value in dollars that the client deems this to be?
Do you have a questionnaire or template that translates deliverables to actual figures from which you will derive?
Do check out our courses on Foundr+ for more lessons!
@@Foundr
Thank you - will do!
Mentality Royal ✅
Could have been answered in less than a minute.
Hi Haramble ,Get FREE, actionable advice from legitimate founders on starting and growing ANY Business foundr.com/free-training/?sl=...
Great content. How do I estimate the problem cost? Also, what if 10% of the problem is lesser than your cost for providing that service. Won't you be running at a loss?
Good question Chukwuma! Get FREE, actionable advice from legitimate founders on starting and growing ANY Business foundr.com/free-training/?sl=...
10% of the result of solving the problem that means if his problem solved and he get or saved 10000 I take 1000 from him
Thanks for watching!
Who is this guy?!
He is Sabri Suby, one of Foundr's coaches or teachers. They feature him all the time and he's written a book on how to sell. He grew his business from zero to millions. His tips always lean on "not following the crowd and do things differently" .