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

5.3. FINDING NEW BUYERS WITHIN EXISTING CLIENTS

If you operate in the small-business, closely held market (for my examples, under $50 million in revenues), there is probably a single buyer who is the owner or CEO. But in larger markets, there are scores or even hundreds of buyers. The problem is that we don't reach out laterally while we're effectively delivering our consulting help.

A new buyer within an existing business does not necessarily have to undertake a project with you on the same basis as others have. The important strategy is to refrain from educating the new buyers incorrectly, as you have the existing buyers!

The advantages of new buyers within existing businesses include the following:

• There are no marketing or acquisition costs.

• The buyers have heard of you or can readily become familiar with your work elsewhere within that client system.

• They respect and know the people who have hired you in the past.

• They are probably not familiar with your prior billing policy.

• It's easy to see them and to accommodate their schedules, since you're onsite frequently.

• Results you've generated elsewhere can be made relevant for them.

NOTE

Most consultants refrain from reaching out to new buyers because of self-imposed limitations. As long as you're doing a good job for the current client, why should anyone object?

Remember that buyers are seldom perched solely at the very peak of the organizational hierarchy. They need to meet only two criteria:

1. Does your value proposition enhance ...