My Fees: Pay Only For What You Get – Not What I do
Whether it’s for coaching, a workshop or a seminar, I base my fees on the value inherent in the project (what you get) not on time or deliverables (what I do).
Instead, after some discussion, we will come to an agreement about the business and/or personal objectives you want met. We will then determine the key measurements to those outcomes, whether they are business objectives (such as team development, enhanced efficiency, leadership issues) and/or personal goals such as improving family relationships or marriage.
I will then courier a proposal with three options for you to consider. Any one of the three will meet your goals. Each succeeding option however provides additional value (greater magnitude and impact) and is more likely to get you the results we have agreed to faster, better and safer than the previous option. You can then decide which option best suits your budget and expectations.
I will then commit as much time as is necessary to accomplish the objectives we have agreed to. This arrangement precludes any additional cost to you. With the parameters established and no meter running, you will know your investment from the outset.
The Issue with per Hour fees for the Consultant/Client Relationship
The traditional fee per hour system often introduces an unconscious level of variance, even distrust into the client-consultant relationship.
Why? Because as the client, you of course want the greatest amount of value, in the least amount of time, and for the least amount of money. Whereas consultants generally want more (extended contract) time and more money to deliver the value you want.
The Advantage of the Paying for Value in the Consultant/Client Relationship
This stands in stark contrast to my approach where we agree beforehand on my fee based upon the results you will get. In other words, I don’t charge for what I do but what you get (value). This financial arrangement means we both want the same thing, the best result possible (value), in the least amount of time and for the least amount of money.
A Personal Comment on fee for Time and/or Deliverables
The concept of fee for time is based on an attorney or accountants business model where the client is charged for hours or service rendered (what they do). This of course, inclines or tempts the provider of said service to extend the amount of time needed for the project and by so doing increase their profit.
I personally do not want to be a part of a system that tempts me in even the slightest way to extend the time of the contract for financial gain. You might say, surely Buddy you wouldn’t succumb to that. My answer is people unwittingly do that all the time when under stress; they jaywalk, fudge their expenses etc.
In short, the fee for time fee structure inclines the consultant try to (unconsciously) use you, when he/she is supposed to serve you.
How many times have you heard a consultant say, “Golly, this is going to take us longer than we expected…”
The fee for value system motivates me to want the same thing as you; the best possible outcome in the least amount of time because the longer it takes, the more I lose.
What Fees for Value Means for You
What this, my being measured on the results/value we agree to, as opposed to time and deliverables, what I do, time, means for you, of course, is that I am completely confident in my experience and my expertise to get you the outcomes you really want. Your risk is negligible.
On top of that I am in the business of changing leader’s lives. I am going to help change your entire life not just half of it. You will also be spared the time, hassle and money that using two experts would demand of you.
Do you know any other consultant, or executive coach – anywhere – who will do that for you?
By the way, if you do wish to or are more comfortable to have a fee per hour agreement, we can of course do that.