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Value-Based Fees

How to Charge — and Get — What You're Worth

Alan Weiss

Publisher: Jossey-Bass, 2002 , 207 pages

ISBN: 0-7879-5511-6

Keywords: Consulting


Toggle Synopsis

Establish your value and convince your clients to gladly pay what you're worth

In this third book in The Ultimate Consultant series, Alan Weiss — one of the most widely-renowned independent consultants in the country and the author of the best-selling Million Dollar Consulting — shows consultants how to raise their fees in a way that creates a win-win, "good deal" dynamic with clients. Moving beyond the old "time plus materials" concept of consulting charges, Value-Based Fees explains how to establish fees based on value delivered to improve the client's condition. Using interviews, vignettes, and a wealth of practical, hands-on advice, Value-Based Fees reveals how you can:

  • Establish your unique value
  • Educate clients in how value determines worth and thus, their investment
  • Overcome existing clients objections and also find new buyers
  • Set fees for non-consulting opportunities such as speaking, products, and more

Table of Contents:

Toggle Table of Contents

  • Chapter 1: The Concept of Fees
    Will People Actually Give Me Their Money for My Advice?
    • The Ethical Nature of Capitalism
    • The Power of MBS: The Mercedes-Benz Syndrome
    • The Importance of Buyer Commitment, Not Compliance
    • Critical Steps for Buyer Commitment
    • The Buoyance of Barnds: How Brands Help Fees
    • Creating Shared Success
    • Chapter 1 ROI (the Summary)
  • Chapter 2: The Lunacy of Time and Materials Models
    Who Wants to Be as Dumb as a Lawyer?
    • Supply and Demand Illogic
    • Ethical Conflicts of Interest and Other Small Matters
    • Limiting Profits, or Why Not Just Forget Domani
    • Why Lawyers and CPAs Do So Poorly
    • Educating the Buyers Incorrectly
    • Chapter 2 ROI
  • Chapter 3: The Basics of Value-Based Fees
    It's Better to Be an Artist than to be an Engineer
    • Focusing on Outcomes Not on Inputs
    • The Fallacy and Subversive Nature of "Deliverables"
    • Quantitative and Qualitative Neasures and Criteria
    • Measuring the Unmeasurable
    • Serving the Clint's Self-Interest
    • The Subtle Transformation: Consultant Past to Client Future
    • Perpetual Motion = Perpetual Progress
    • Chapter 3 ROI
  • Chapter 4: How to Establish Value-Based Fees
    If You Read Only One Chapter ...
    • Conceptual Agrement: The Foundation of Value
    • Establishing Your Unique Value
    • Creating the "Good Deal" Dynamic
    • The Incredibly Powerful "Choice of Yeses"
    • Some Formulas for the Faint of Heart
    • Chapter 4 ROI
  • Chapter 5: How to Convert Existing Clients
    Correcting Your Own Mistakes
    • Setting Priorities Among Existing Clients
    • Offering New Value
    • Finding New Buyers Within Existing Clients
    • Finding New Circumstances
    • What If Clients Resist a Conversion?
    • Abandoning Business
    • Chapter 5 ROI
  • Chapter 6: The Fine and High Art of Using Retainers
    It's Just the Smarts, Stupid
    • Optimal Conditions for Retainer Arrangements
    • Choosing Time Frames and Creating Realistic Expectations
    • Organizing the Scope and Managing Projects Within the Retainer
    • Capitalizing on Retainer Relationships
    • Aggressively Marketing Retainer Relationships
    • Chapter 6 ROI
  • Chapter 7: Sixty Ways to Raise Fees and/or Increase Profits Immediately
    Act Today and Also Receive the Bass-o-Matic Free of Charge
    • The First Fifteen
    • The Second Fifteen
    • The Third Fifteen
    • The Fourth Fifteen
    • Chapter 7 ROI
  • Chapter 8: How to Prevent and Rebut Fee Objections
    Since You've Heard Them All Before, How Can You Not Know the Answers?
    • The Four Fundamental Areas of Resistance
    • Maintaining the Focus on Value
    • Boring in on the Subject
    • Offering Rebates
    • Utilizing "Smack to the Head" Comparisons
    • Ignoring the Competition
    • Chapter 8 ROI
  • Chapter 9: Setting Fees for Non-Consulting Opportunities
    How to Make Money While You Sleep, Eat, Play, and Well, Make Money Elsewhere
    • Keynote Speaking: Don't Charge for Your Spoken Words
    • Highly Leveraged Practices or Working with Bureaus
    • Products
    • Other Stuff
    • Remote Consulting and Its Lucrative Nature
    • And Now for Some Perspective
    • Chapter 9 ROI
  • Chapter 10: Fee Progression Strategies
    Why You Fall Behind when You Stand Still
    • Entry-Level Fees
    • Transition to "Going Concern"
    • Transition to Word of Mouth
    • Transition to Brand Phase
    • Transition to Ultimate Consultant
    • The Book's ROI: Alan's Axioms for the "Good Deal"
  • Appendix A: Questions to Qualify the Economic Buyer
  • Appendix B: Questions to Establish Business Objectives
  • Appendix C: Questions to Establish Measures of Success
  • Appendix D: Questions to Establish Value
  • Appendix E: Questions to Assess Personal Value Contribution
  • Appendix F: The Difference Between Inputs and Business Outputs

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