How to Earn Premium Consulting Fees


Today I’m going to share with you how to position your offerings and your services so that you can earn premium consulting fees. The example I’m going to use is from my last trip to Japan.

I was walking through a very well-known department store in Japan. Anyone that knows me knows I’m not a big shopper. I certainly don’t try to spend time in malls or department stores if I don’t have to.

Then I saw this: a single strawberry for about $10 USD. Who would pay ten dollars for one strawberry?

When I do need to, I am typically in-and-out. I know what I’m looking for. I go in there, I get it, and I’m out of there. I’m not just spending time window-shopping or looking at the latest styles and trends on the racks, but there’s something very special about department stores in Japan.

They’re meticulous. They have the most amazing merchandising, and as you’ll soon see, they also do a very good job when it comes to pricing.

12 Strawberries for $70

1As I was walking through Hankyu department store I saw a package of 12 strawberries. They were beautiful. Perfectly shaped and a deep red color.

Each one has a nice little bubble layer of protection wrapped around it to protect it from bruising against the other strawberries.

These 12 strawberries sell for 7,344 yen, around $70 USD.

Then I saw this: a single strawberry for about $10 USD. Who would pay ten dollars for one strawberry?

Oh My Mangoes and a $400 Steak

It keeps getting better. Next, we have a single mango. Yes, it does come with a nice wooden box. It comes with a nice bow, and it’s wrapped and has some stickers on it.

The sweetness of this mango will be like no other mango. But it will set you back about $200 USD.

Next I went to check out the meat section. I was trying to look for the most expensive offering they had, and this is what it was.

It was the select premium Kobe beef. Now, you may have heard of Kobe beef before.

Kobe beef isn’t actually from Kobe (which is in Hyogo prefecture in Japan). Kobe beef refers to a level of quality that the Kobe beef brand is looking for and which it will put its seal on.


Well what you see in this photo is the premium range of Kobe beef. For 100 grams of this steak it will cost you $200. Considering an average steak is about 200 grams that would work out to be a $400 investment in steak pleasure.

Now, I can tell you from first-hand experience eating plenty of Kobe beef that this steak will melt in your mouth.

Your Consulting Fees

Are your consulting fees the equivalent of a $5 mango or a $50 one? How can the pricing for something that appears to be so similar be so different?

It all comes down to perception of value and the actual value being created.

If you want to earn higher fees, focus on providing and communicating more value.

Consultants are often scared to increase their fees. They think that if they do they’ll lose business or somehow lose out on opportunities.

There are examples all around us from cars, to meat, fruit, clothing and more that clearly show that premium pricing is a viable strategy.

In order to earn premium consulting fees follow these guidelines…

First I’d like to offer you the idea that pricing, your fees, are rarely the reason a buyer will not engage you. The real issue is that the buyer can’t justify spending a certain level of money because they don’t see that the price is aligned with the level of value they will receive. Continue Reading

How to Increase Your Consulting Fees Over 712%


If you’ve ever felt stuck and that you’re not earning what you believe you should be, you need to listen to this interview.

Barb Langlois is a consultant in my coaching program. She’s also an author, speaker and trainer. Barb is very good at what she does. Yet she was struggling to consistently attract her ideal clients and receive high fees for the value she created for her clients.

In this interview below Barb shares how we tackled all of these challenges and why she’s now able to attract and land more clients than ever before. You’ll also hear how she increased her fees over 700% and turned a short one time client project into a full year.

Do you want more clients? Are you ready to learn the proven system and process consultants are using to attract their ideal clients and receive higher fees consistently? If so, apply for my Marketing for Consultants coaching program.

This is the program where I personally work with you to reach your goals faster than you ever thought possible. If you’re tired of not knowing what to do, how to do it, and why what you’re doing now isn’t working, apply and let’s setup a time to talk. I’ll show you step-by-step exactly what you need to do to start getting results.

How to Turn a $5K Consulting Project Into $54K


Ken Blankenfeld is a consultant to the construction industry. He’s a corporate veteran managing projects valued at more than $500 Million.

In his previous role as a VP, before going out as a consultant, Ken took the company from $6 Million to $85 Million in four years.

Yet when he launched his consulting business he found it challenging to consistently land his ideal clients.

Since Ken joined my coaching program he’s seeing marketing in a different way and the results show. In this interview, you’ll learn how Ken turned a $5K consulting project into a $54K project – and he says it was the easiest sale he’s made (and he doesn’t like selling!).

If you’d like to learn how to consistently attract your ideal clients, increase your income and grow your business fill in the form here and let’s setup a time to talk.

5 Reasons High Consulting Fees Don’t Lose Business


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.

Continue Reading

How to Get Paid on Time


The graveyard is filled with businesses that had cash flow problems.

If you’d like to avoid ending up with the same fate, make sure you’re not committing this classic consulting sin.

The reason most consultants don’t do this is because they are too scared to ask their clients.

Consultants ask me all the time, “my client was supposed to pay me a week ago, and they haven’t what should I do?”

That “one week” becomes two, sometimes three, six or more…

There’s a simple way to make sure this doesn’t happen to you – get paid up front.

That’s right; tell your client that you take payment at the outset of the project.

If you can’t collect 100% of the payment at the start, take no less than 50% (or 1/3 paid out evenly over the project at minimum).

The idea here is that you shouldn’t be doing work unless you’ve been paid for it. Continue Reading

3 Steps to Double Your Consulting Fees


How would you like to increase your consulting income by 50%, 100% even 200% and more…interested?

There’s a very simple way to achieve this and I’m going to tell you how…

Increase your fees.

If you’re currently making an average of $15000 per consulting project, increase your fee to $25000, $40000 or even $80000.

Here are three guidelines for you to make this happen:

1. Charging too little. Many consultants I speak with in my coaching program are charging too little for the results they provide. If you are helping your clients improve sales by $250,000 annually, charging $5000 is too little. If you know you’re providing huge results for you clients and not charging enough – increase your fees right away. That will have a huge impact.

2. Provide greater value. Let’s say you’re currently providing a service to your clients for $20000 and it includes A and B. If you add more value by providing A, B, C and D, you can increase your price to $50000. The key here is that you can charge more if you’re creating more value. This is a very powerful approach. Continue Reading

Why a 10% Drop in Consulting Fees Leaves You With 33% Less


Imagine offering a client a 10% discount to win the project only to find out you actually took a 33% hit. Ouch!

If you’re engaged in time based consulting work you may be surprised to learn that offering your buyer a modest discount can actually reduce your gross profit by a much greater margin.

I was reading Ori Weiner‘s book on Advanced Fee Negotiation the other day. And I found a great example that clearly illustrates how dangerous discounts can be.

This is an adapted summary of Ori’s explanation on page 26:

At first glance, this makes sense…

  • You’re a consultant that has just offering your client a 10% discount on your rate for the project.
  • You expect the project to be about 1000 hours at your rate of $500/hr.
  • If your costs on the project are $350, that leaves you with $150/hr profit (that’s a 30% gross margin).
  • Your total profit from this project would be $150,000.

Here comes the pain…

  • Your 10% discount would equal $50 off your regular rate.
  • That means your hourly rate drops to $450.
  • Your costs will remain the same ($350) unless you’ve negotiated otherwise (key point!).
  • That means your profit falls to $100/hr.
  • Your total profit is now down to $100,000 from $150,000.
  • That’s a decline of 33%, not the 10% you first bargained for! Continue Reading

What to Do When Your Client Asks You to Lower Your Consulting Fee?

Consulting Fees Down

First I should say that this request is rarer than you may think.

This may be the type of client that is unsure of herself and will look for any excuse to get out of a project, delay things and make your life unpleasant in general.

If you’ve done a good job of educating your ideal consulting client and have given them plenty of reasons to see the value that you can provide to solve their problem they’ll have few reasons to worry about your fee.

In many cases, but not all, the type of client that asks for a discount on your fee is the type of client you have to worry about for two reasons:

1) That you haven’t done a good enough job of demonstrating what value your client will receive – and that means that they won’t be fully committed to the project if they don’t believe their ROI will be significant.

2) This may be the type of client that is unsure of herself and will look for any excuse to get out of a project, delay things and make your life unpleasant in general.

That aside, if a genuine prospect asks you to lower your consulting fee, what should you do? Continue Reading

Speaking Fees: Establishing Your Value

Speaking Fees Consultants

Speaking fees, like consulting fees, should be about the value you deliver.

Some of you may think that doesn’t sound right. And I can understand that, especially considering some of the conversations I’ve had with some speakers.

You should focus on the value you will provide the buyer; and not only will you get hired more often; you’ll be able to command higher fees as well.

I’ve heard the following reasons as being most important for a speaker:

  • “To connect with the audience”
  • “Make people laugh”
  • “Get people to think”
  • “Share new ideas”
  • “Receive a high score from attendees when they rate your presentation”
  • “Keep people happy during a specific time slot”
  • “To arouse and inform”

What do you think?

At first glance these don’t seem too far off the mark. But take a minute to actually think about what the speakers are saying here. Continue Reading

7 Ways to Increase Your Consulting Fees

7 Ways to Increase Consulting Fees

Increasing your consulting fees is one of the quickest and easiest ways to earn more. But it needs to be done right.

The more ‘new’ value you provide to your clients with the price increase, the less objections you’ll face.

Many consultants experience paralysis around this topic. The idea of losing customers as a result of increasing prices leaves them in a deep chill and unable to move forward and take action.

To help you increase your own consulting fees, here are 7 questions to ask yourself:

1. Is the Time Right?

Every client and industry has cycles. Periods where they are likely to be more busy and stressed. Consider what is going on in your client’s business before you come out asking for an increase in your fees. This shouldn’t stop you from moving forward however…it’s just an important consideration. Entrepreneur writes that you should “choose a time when you’ll encounter the least resistance.”

2. Are You Focusing on Value?

The most critical part of raising your prices is that your clients perceive an increase in value. The more ‘new’ value you provide to your clients with the price increase, the less objections you’ll face.

For example, you can offer a new service or product that your clients will value…and it doesn’t necessarily need to take you much (if any) more time to provide it. It could be some kind of additional reporting, maintenance, or monitoring to name a few.

I read a great study on Social Triggers by economist Richard Thaler. In the study, people were asked how much money they would give a friend to buy a beer for them if they were vacationing and sitting on the beach. In the first situation, it was explained that the place the friend was going to buy the beer from was an old run-down grocery store.

You need to clearly figure out why you’re increasing your price so that you can communicate the reason with your clients.

In the second situation, people were asked how much money they would give their friend if the friend was going to a luxury resort to buy that same beer.

The study found that on average people would give their friend 71% more money when the beer was to be bought at the luxury resort.

Now consider that this was the exact same beer. It would taste the same. The only difference was the perception of value associated with each of the places. Continue Reading