5 Reasons High Consulting Fees Don’t Lose Business

High-Consulting-Fees

If you’ve ever entered into a conversation with your ideal buyer only to have your proposal declined because your fees were too high, I feel for you.

Unfortunately, it’s not your buyers problem, it’s yours.

There are many other reasons your proposal may be declined and the buyer will tell you your fees are too high.

If you’ve followed the right steps your proposal shouldn’t be a surprise to your buyer, it should be a welcomed invitation to start working together.

Here are the most common reasons consultants lose business when a buyer thinks the fee is too high…

  1. You failed to ask about the buyer’s budget. If you had, and if your buyer stated a budget that was unrealistic you could and should have addressed right then and there.
  2. You haven’t clearly explained and communicated the ROI that will be created as a result of the project. Your buyer likely sees your fee as an expense, not an investment.
  3. Your relationship with the buyer is weak. Ultimately buyers want to hire people they like and trust. If you haven’t developed the relationship to that level, it’s unlikely you’ll win their business.
  4. Your proposal attempted to sell your services, when it should summarize what you and the buyer have already agreed upon. Remember, the proposal doesn’t win you the business, the business should have already been won and the proposal is what you use to make it official and get things started.
  5. You mistook the buyer for an ideal buyer. Meaning that they never had the intention to actually buy, or at least not anytime soon. They simply wanted to collect information and you failed to ask the right questions upfront to confirm this.

There are many other reasons your proposal may be declined and the buyer will tell you your fees are too high. However, if you’ve taken the right steps, asked the right questions and established a real and meaningful relationship with your buyer you’ll avoid this common error and greatly increase your business.

If you want to write winning proposals follow the Consulting Proposal Guide. Not only will you learn exactly how to structure your proposal, you’ll receive templates you can start using right away. Details here