The 'Zero In' Technique: The Best Way To Establish Consultancy Fees In 2024
Don't leave yourself or your prospective clients in the dark about what you charge. Update them on every step of the journey and avoid wasting time on projects which would never succeed.
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How Not To Set Fees
Stop trying to guess the maximum a client is willing to pay.
I read a LinkedIn post where a consultant explained that she had recently sent a proposal to a prospective client. She wasn’t sure what to charge, so she nervously named the highest figure she dared and clicked send.
Her message was ‘don’t undersell yourself’.
I applaud the sentiment but disagree with the tactics.
We should be past the point of guessing the maximum a client will pay.
This kind of mentality comes from an outdated world of in-person selling. A salesperson would ‘call’ on a prospective client in person. The prospect would express interest, and the salesperson would name the highest figure they dared and then be quiet because ‘whoever speaks first loses’.
The logic is that you might be tempted to say, ‘But if that’s too high, we can reduce the fee.’ The prospect would obviously take you up on that unsolicited…
