Consulting Fee Structures: 5 Models Ranked From Worst to Best

its very hard to sell ROI based pricing to clients, except if you can promise with certain outputs live savings or profits. Also, clients who are experienced in procuring consulting services will ask you to cap your hourly or daily rates based on a time estimate, and they will probably tie up project based pricing to milestones or deliverables.

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How can you use the ROI model if your clients are non-profits? Of course they would extract value similar to a private business, but just wondering if this model applies the same.

Hi there, thanks for the info! How do we determine the value add & pricing for the ROI model?

Hi thank you
I'm a start up here.

What would building services design engineering fit under?
I suggest ROI what are your thoughts?

Thanks for giving us an overview of these fee structures. I have a Q. I have a new client for a project that I will have to deliver in a few weeks only. I have relevant experience to achieve this. They approached me first. Now if I charge one fixed fee for the project (it's a publication that will be presented at an international event), I 'm afraid that they will push me harder to make sure that they have their money's worth. Wouldn't it make more sense to avoid this by charging hourly? Thanks!

About ROI: I've heard it might become a major problem if client doesn't agree the result came from the project. I think BCG was sued by Gamestop in a discussion about ROI... Unless the return is very measurable and trackable, I wouldn't feel comfortable going with that model...

Am starting my own Operational Risk Management Consulting Business. This is helpful m thank you ☺️

This was awesome! Thanks for the info!

Good content

Still applicable. Love that.

Mike!
Great stuff! Your video should be in more places, so it can reach more people.
Let me know if I can help!

that's insightful

"Your interests aren't really aligned with an hourly fee" lol wait till you hear about literally every job

This video is super helpful. Thank you @michael_zipursky

How could one get an accurate measure of monetary value provided to gauge a correct ROI % fee? For instance if 10 hours helps company “ACME”save $100,000 a year in expenses, what can the consultant charge? How does one approach the issue of a company undervaluing the effect of said consulting? Wouldn’t a company want to undermine how much a consultant actually helped or netted for them because they have a monetary interest to do so?!

Very useful information. Will apply it.

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As an HR consultant for leadership training I find it very hard to find objective results to base the ROI in. Does it have to be connected to financial return or should I target on how much valeu the client sees in having their leaders ready to deal with the challenges?

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I just want to show appreciation. I was sent here to listen to this video this morning, Aug. 8th 2020. I am going through a transition period and i'm extremely grateful to have received your gifts, thank you.

Great I am just starting online consulting in India where major legal consultants cater to classes. Now that internet penetration is increasing at a rapid pace and people especially the masses are exploited by the legal system. Right advice at reasonable cost is in real demand. If you can give useful insights on my requirement I would be highly obliged. This channel I guess might be really helpful for me.

Project based is a high risk approach, where a lot depends on the client, the hidden costs and change management. It works when you are able to real come up with a tight project requirements documents,

Simple, concise, insightful & inspiring.

Bro how can i become a conceltant

I'm running a multi six-figure consulting business and I have to say this is great advice for anyone starting out in Consulting. Well done!

Hey how's it going , I have a quick question I'll say. So similar to a lawyer's retainers fee. You pay it and they do what they do until the job is done. With a consulting fee, how many times does the client pay that. If I get paid X, how long does that X last the client. do they pay a monthly fee, bi-monthly, what.
Thanks in advance

Thanks for sharing. This was a great informative video.
For me it depends on the client and their needs.


* HOURLY is good for a person that has a few questions they need answered right away. I would do a hour long phone call only If they want more I would suggest hiring me as a consultant per project with a set fee


* ROI is more for products/events etc you know is going to do well if they follow abc steps


* RETAINERS are good for more established clients. Based on my expertise, I probably would not use this but if I was a fashion stylist for example then this would make more sense to me

For ROI fee structure, a question: It feels like our income is now at the mercy of the client's sales team performance? For example, if we deliver leads to the client all day but the ROI is based on closed deals, how are we to work around incompetent sales teams (the sales team is off limits to us.)

The ROI Based approach is very insightful and I look forward to implementing this into my structure.

Great presentation, I completely concur with your breakdown..ROI is definitely the way to go, especially if you ARE good at what you do..thanks Michael

Emes

How do you use the ROI method with a consulting service that does not translate directly to profit, like doing competitor analyses for example?

You explained this really well!

what's the music you use for the intro/outro?

Hey,

what if ask a Client what this 'Improvement' would be Worth to him and he replies, "It would be priceless OR It would reduce my stress". How shall I put a Price-tag on Intangables? Should keep asking, to get some numbers or should just say; "ok, it's this." ?

Great content! Thanks so much for uploading!