The 4 Consulting Philosophies
Apr 15, 2018
There are four ways to think about your overall approach to consulting and offering agency services. Here they are, in equal order of importance:
Value trumps fee
2 measures of improvement:
- objective (profit, margin, sales market share) and subjective (stress reduction, lighter workload) business improvement
- the speed of improvement – the quicker you can improve their condition, the more valuable you are.
Charging by an hourly fee: You can charge more by being slow. That’s an unethical consulting model.
Your time equals money
4 ways to reduce your time investment
- Deal only with decision makers. owners
- Set up processes for your work – onboarding / kicking off clients, deliverables, and for follow up (monthly meetings)
- Use the client’s resources.
You must create conceptual agreements with the client
- Agree on objectives – Overarching goals such as sales, showing up on page one of Google, new website look, beating competitors, more market reach
- Agree on measures of success/progress (reach, fans, followers, customers) – Metrics
- Agree on value-added – results including profitable sales, offsetting expense and fees of hiring you
Don’t package or bundle services
- Most consultants or agency owners bundle their products and services because they basically are insecure about their worth and want to provide as much stuff as they can to justify fees. This is the harsh truth. But this doesn’t serve the client. How could you possibly know what they really need before meeting with them, hearing their story, and diagnosing their situation? Would a doctor give you a prescription before diagnosing you?
- Break them down into options, menu items, ale cart and sell on value. The more they want to add or choose, your price goes up.
- Why offer a buffet of services when offering just one or two things would give them the result they are after and take you much less time? You can command your fee, get the result without having much to commit to. That’s the goal.
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