Million Dollar Consulting, 5th Edition

INTERLUDE IITHE CONCEPT OF VALUE

Throughout this book (and all of my work), the concept of value is paramount. In fact, when asked about your billing basis or structure (when prospects often expect an hourly rate to be cited), my suggested language is this:

My fee is based on my contribution to the project and represents a dramatic ROI (return on investment) for you and equitable compensation for me.

Isn’t that how partners treat one another? The quid pro quo is value delivered in return for equitable compensation. Hourly fees aren’t equitable; they are arbitrary and based on time use. In fact, they’re unethical, in that the longer a project takes—inimical to the client’s best interests—the more the consultant is paid. That’s not equitable and ...