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

1.4. CRITICAL STEPS FOR BUYER COMMITMENT

It's worth repeating here briefly the sequence of events in the consulting business acquisition process that engenders the highest-quality commitment, the first three shown in the graphic in Figure 1.2.

• Shared Values: Those common business beliefs that will allow you to work effectively with the prospect—for example, a mutual antipathy for downsizing or a common belief in the importance of ongoing employee feedback

• Relationship: That level of a trusting interaction in which you and the buyer are comfortable with each other, can be honest (even in disagreeing), and share insights and assistance with each other on a mutual basis

  Figure 1.2. Consulting Business Acquisition Sequence.

  

• Conceptual Agreement: Agreement between you and the buyer on the objectives for the project, expressed as business outcomes; metrics, measures of progress toward those objectives; and value, the buyer's stipulation of how he or she and the organization will be better off as a result of those objectives being met

These three critical steps, each dependent on the prior step being successfully in place and addressed in detail in Chapters Three and Four, will garner buyer commitment. The absence of conceptual agreement will result in either a lost sale or a lousy sale (and the latter is often more damaging than the former).

Fees are dependent on buyer commitment well ...