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

Book Description

In this thoroughly revised edition of his classic book, Alan Weiss shows how consulting fees are dependent on only two things: value provided in the perception of the buyer and the intent of the buyer and the consultant to act ethically. Many consultants, however, fail to understand that perceived value is the basis of the fee, or that they must translate the importance of their advice into long-term gains for the client in the client's perception. Still others fail to have the courage and the belief system that support the high value delivered to clients, thereby reducing fees to a level commensurate with the consultant's own low self-esteem. Ultimately, says Weiss, consultants, not clients, are the main cause of low consulting fees.

Table of Contents

  1. Copyright
  2. Dedication
  3. Other Works by Alan Weiss
  4. About the Author
  5. Introduction
  6. Preface to the Second Edition
  7. Acknowledgments
  8. The Concept of Fees: Will People Actually Give Me Their Money for My Advice?
    1. THE ETHICAL NATURE OF CAPITALISM
    2. THE MERCEDES-BENZ SYNDROME
    3. THE IMPORTANCE OF BUYER COMMITMENT, NOT COMPLIANCE
    4. CRITICAL STEPS FOR BUYER COMMITMENT
    5. THE BUOYANCY OF BRANDS: HOW BRANDS HELP FEES
    6. CREATING SHARED SUCCESS
    7. CHAPTER ROI
  9. Interlude: A Case of Bottom-Line Blindness
  10. The Lunacy of Time-and-Materials Models: Who Wants to Be as Dumb as a Lawyer?
    1. SUPPLY-AND-DEMAND ILLOGIC
    2. ETHICAL CONFLICTS OF INTEREST AND OTHER SMALL MATTERS
    3. LIMITING PROFITS, OR WHY NOT JUST FORGET DOMANI?
    4. WHY LAWYERS AND CPAS DO SO POORLY
    5. CPAs
    6. EDUCATING THE BUYER INCORRECTLY
    7. CHAPTER ROI
  11. The Basics of Value-Based Fees: It's Better to Be an Artist Than to Be an Engineer
    1. FOCUSING ON OUTCOMES, NOT INPUTS
    2. THE FALLACY AND SUBVERSIVE NATURE OF "DELIVERABLES"
    3. QUANTITATIVE AND QUALITATIVE MEASURES AND CRITERIA
    4. MEASURING THE UNMEASURABLE
    5. SERVING THE CLIENT'S SELF-INTEREST
    6. THE SUBTLE TRANSFORMATION: CONSULTANT PAST TO CLIENT FUTURE
    7. PERPETUAL MOTION, PERPETUAL PROGRESS
    8. CHAPTER ROI
  12. Interlude: The Case of the Annoying Accountants
  13. How To Establish Value-Based Fees: If You Read Only One Chapter . . .
    1. CONCEPTUAL AGREEMENT: THE FOUNDATION OF VALUE
    2. ESTABLISHING YOUR UNIQUE VALUE
    3. CREATING THE "GOOD DEAL" DYNAMIC
    4. THE INCREDIBLY POWERFUL "CHOICE OF YESES"
    5. SOME FORMULAS FOR THE FAINT OF HEART
    6. CHAPTER ROI
  14. How To Convert Existing Clients: Correcting Your Own Mistakes
    1. SETTING PRIORITIES AMONG EXISTING CLIENTS
    2. OFFERING NEW VALUE
    3. FINDING NEW BUYERS WITHIN EXISTING CLIENTS
    4. FINDING NEW CIRCUMSTANCES
    5. WHAT IF CLIENTS RESIST CONVERSION?
    6. ABANDONING BUSINESS
    7. CHAPTER ROI
  15. Interlude: The Case of the Loaded Loading Dock
  16. The Fine and High Art of Using Retainers: It's Just the Smarts, Stupid
    1. OPTIMAL CONDITIONS FOR RETAINER ARRANGEMENTS
    2. CHOOSING TIME FRAMES AND CREATING REALISTIC EXPECTATIONS
    3. ORGANIZING THE SCOPE AND MANAGING PROJECTS WITHIN THE RETAINER
    4. CAPITALIZING ON RETAINER RELATIONSHIPS
    5. AGGRESSIVELY MARKETING RETAINER RELATIONSHIPS
    6. CHAPTER ROI
  17. Ethics and Fees, Fees and Ethics: A Midbook Practicum
  18. Seventy Ways to Raise Fees and/or Increase Profits Immediately: Act Today and Receive the Bass-o-Matic Free of Charge!
    1. CHAPTER ROI
  19. Interlude: The Case of the Rebounding Retainer
  20. How to Prevent and Rebut Fee Objections: Since You've Heard Them All Before, How Can You Not Know All the Answers?
    1. THE FOUR FUNDAMENTAL AREAS OF RESISTANCE
    2. MAINTAINING THE FOCUS ON VALUE
    3. BORING IN ON THE SUBJECT
    4. OFFERING DISCOUNTS
    5. USING "SMACK TO THE HEAD" COMPARISONS
    6. IGNORING THE COMPETITION
    7. CHAPTER ROI
  21. Interlude: The Case of the Perverse Purchasing Agent
  22. Setting Fees For Nonconsulting Opportunities: How To Make Money While You Sleep, Eat, Play, And Make Money Elsewhere
    1. KEYNOTE SPEAKING: DON'T CHARGE FOR YOUR SPOKEN WORDS
    2. HIGHLY LEVERAGED PRACTICES FOR WORKING WITH BUREAUS
    3. PRODUCTS
    4. EXPLORING NEW LUCRATIVE FIELDS
    5. AND NOW FOR SOME PERSPECTIVE
    6. CHAPTER ROI
  23. Fee Progression Strategies: Why You Fall Behind When You Stand Still
    1. ENTRY-LEVEL FEES
    2. TRANSITION TO A "GOING CONCERN"
    3. TRANSITION TO WORD OF MOUTH
    4. TRANSITION TO THE BRAND PHASE
    5. TRANSITION TO THE ULTIMATE CONSULTANT
    6. THE BOOK'S ROI: ALAN'S AXIOMS FOR THE "GOOD DEAL"
  24. Interlude: The Case of the Fee Feng Shui
  25. Technology and Fees: Greater Wealth in the Brave New World
    1. THE SERVICE ENHANCEMENT
    2. THE PUBLISHING PREROGATIVE
    3. THE REMOTE CONSULTANT
    4. PASSIVE INCOME
    5. THE BOTTOM LINE
    6. CHAPTER ROI
  26. Questions for Qualifying the Economic Buyer
  27. Questions for Establishing Business Objectives
  28. Questions for Establishing Measures of Success
  29. Questions for Establishing Value
  30. Questions for Assessing Personal Value Contribution
  31. The Difference Between Inputs and Business Outputs
  32. Index