Lesson 03: Build Fees With a Simple Change in Emphasis & Focus
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Short & Sweet
This third lesson in the course is short but powerful. I have presented a view on how to answer a common client question. “How much should I charge per hour?”
The question appears to be a simple one, but is far from simple. To properly answer it requires you to have a discussion with your client covering forecasting and monitoring of operational performance. In many instances it will necessitate you taking on the role of teacher as you may need to educate your client in the area of basic financial management.
Answering this question leads to the probability of increased client profitability and more fees from the client.
So don’t wait for clients to ask you the question. Take a proactive approach, contact your clients and ask them one, or all of these questions:
- “Are you charging the correct hourly rate?”
- “Will the rate you are charging allow you to generate the profit you require or desire?”
- ” Do you know what profit you require or desire?”