Choosing the right level for your consulting fee is an important part of being a consultant. My post on setting a consulting fee goes over some ways of establishing your rate. However, how can you tell whether your fee is too low?
Five ways to tell your consulting fee is too low:
- No one has ever balked at what you’re charging
- Prospective clients say, "Gee, that’s really reasonable!"
- You’re charging the lowest rate in your market
- Prospective clients are excited to receive a quote but then follow up with, "Thanks, but we’re going to go with someone more senior."
- Once you look at how much time you’re spending on your consulting business, your hourly rate works out to be peanuts.
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"Consulting fees: are yours too low?" from Become a Consultant at ConsultantJournal.com.