Consider carefully why the 80-20 rule works in every profession and in every discipline in life and business. In the consulting business, why is it that 20 percent of the consultants earn 80 percent of the total fees?
Consider why it is that one consultant can generate fees of $95,000 per annum, while another can generate $250,000, and another $500,000, and yet another $1 million plus.
Obtain verbal approval before it is submitted, that is how you do it!
Some consultants almost pride themselves with the amount of proposals submitted and even have success ratios (sic) for those that they win. Here is a quick overview of how you get 100% approval of your proposals, you basically get it approved verbally, before you submit it in writing. Easy to do, right?
In this economy, the concept of “VALUE” is in, anything seen as “COST” is out. More than ever, showing the value and benefits for the work you provide, will help you set higher client fees and save your business.
Setting client fees, that represent a fair and justifiable reward for the value you achieve as a consultant on a client assignment, remains one of the most awkward and sensitive issues for independent consultants and professional service firms all over the world. Furthermore, more than 80 percent of consultants and professionals – lawyers, accountants, engineers, dentists – undercharge for the value they contribute on client projects.
