How should small business owners manage the corona virus, aka COVID-19? It’s a question on the minds of many entrepreneurs, as Fortune 500 companies announce new protocols for travel, meetings and even use of coffee cups. At Consultant Journal, we know many entrepreneurs, small business owners and consultants wonder about the business impact. Refer to […]
Tax time doesn’t have to be stress-filled. Are you one of those people who shove receipts and invoices wherever is convenient, then panic when you can’t find them? Do you have to sort through a mountain of paperwork when tax time rolls around? Why don’t you be kind to yourself and promise to do tax time, anytime, from here on in?
Putting together a solid business plan can help you get control and confidence in your business. Consider the following points as you work on your plan – and take a look at why a business plan can help if you haven’t already got one.
Consulting fees and how to set them can be a challenge to new consultants. You might be wondering how much to charge or be unsure of your own value. Many new consultants start by undercharging. However, setting your consulting fees in the right range is easier than you think. There are several approaches to setting consulting fees that you can take. In this article, hourly, daily, fixed, and competitive rates will be examined.
Consulting company business plans – Are you looking for a business plan template or a boiler-plate that will help you put together a consulting company business plan? There are a variety of resources here at Consultant Journal that will help you in writing your consulting company business plan.
What is a typical consulting fee? Good question. Unfortunately, the answer is that there are no typical consulting fees! Consulting is made up of so many variables and factors that there really is no easy answer. As you can imagine, typical consulting fees for skin care consultants are vastly different from typical consulting fees for jury consultants.
Typical consulting fees are all about value. How much value do your services offer your client? By doing a little research and bearing value in mind, you will be able to set a rate that is appropriate to your area of expertise and is competitive within the industry.
Consulting rate – Are you wondering how to set your rates as a new consultant? It’s extremely important to set an appropriate rate for your consulting services. Why? Because not only does your rate reflect your qualifications and expertise, but it’s also your bread and butter! Use a strategy when setting your consulting rate so that you are confident in your pricing structure. Rates should also take into consideration competitors’ rates, physical location (think urban cities versus small towns) and the exclusivity of your services.
I’ve done a lot of work on consulting fees, including writing Consulting Fees: A Guide for Independent Consultants and helping numerous new consultants set their consulting fees. When discussing consulting fees with clients and new consultants, I’ve noticed common misconceptions about consulting fees.
I’ve compiled these common misconceptions into this article to help set the record straight when it comes to consulting fees.
“Could you spare 20 minutes to talk to me on the phone?”
“I’d be happy to work with you to develop a proposal that will meet your needs.”
“But it’s just 20 minutes. In 20 minutes, you could give me such important strategy that would otherwise take me months to develop. You could really help me….”