Sunday, February 5, 2012

Consulting Rates - Can I Charge Premium Rates?

Consulting rates are difficult to set and everyone wants to charge premium rates but wonders if clients will pay.  The bottom line is that if you providing premium services you should be charging premium consulting rates.

Article Body:
Consulting rates vary from business to business.  Some people start up their own computer consulting business right out of school.  Others have worked in the industry for many years before deciding to head out on their own.  The reality is, not all computer consulting businesses are alike and not all consulting rates are alike either - their owners have different skills sets and experience levels.  

Some owners of computer consulting businesses have bachelors degrees, some don't.  Some have years of experience, other's don't.  Some are in their 20's, some are in their 60's. Given this disparity, the question that begs to be answered is, "How do I know if customers will pay premium consulting rates for my services?

Qualifications, Experience and Consulting Rates

The simple answer to the question is this:   If you have decent people skills and decent technical skills, if you can do the job and be an asset as an IT person for a sweet spot small business, then your age, experience, or education should not hold you back from charging consulting rates at the top of the market. 

The flip side of this is also true.  If you are starting your business in your 50s or 60s and doing this as a second job or as a change in careers, don't let that hold you back from setting premium consulting rates.  Your age, experience, and whether you have a degree should have absolutely nothing to do with it - your competency is the most important factor.    

The Bottom Line on Consulting Rates

The core issue with setting your consulting rate is whether your computer consulting business provides value to the client.  Do you provide something that they can't do themselves? Do you help them to be more productive? Do you help them get more done in a week? Do you help them cut expenses? If your answers are "yes" then you have every right to be charging premium consulting rates for the services you provide.    

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