Value-Based Fees: How to Charge—and Get—What You're Worth: A Guide for Consultants, Second Edition

5.1. SETTING PRIORITIES AMONG EXISTING CLIENTS

The first order of business is to establish the decision criteria to determine which clients even to approach. A general "triage" system works best:

1. High-potential clients for change to value-based projects

2. Clients who could go either way but require more work

3. Clients who will not change short of having their legs broken

To establish who's who on your list,^[] I've created the test in Exhibit 5.1.

^[] Since this series is aimed at highly successful consultants, my assumption is that your firm has a dozen to two dozen active clients and another dozen to two dozen periodic clients. But even if you have fewer than that, the criteria will still apply, and you should use them to differentiate among your buyers.

Test to Determine the Potential to Shift a Client to Value-Based Fees Complete this form for those clients you might wish to convert to valuebased fees. Use the following scale: 3 = yes, 2 = maybe, 1 = doubtful. Does this client represent significant long-term business potential? ___________________ Has this client generally accepted your prior fee schedule with little protest? ___________________ Has this client provided you with a very senior or high-level buyer? ___________________ Does this client have multiple buyers you have sold to or can sell to? ___________________ Is this a client you would hate to lose? ___________________ Has this client generated a substantial return on your consulting work? ___________________ Has this client ...