How Do I Charge For Consulting?

[CKrecicki]

A few months ago I started an eBay business for short run just to make some extra money in the ended up being pretty profitable for not never a strong desire to sell people things on eBay. Then where it started web design company for another short run which is turned into a long run company expanding slowly but keeping prices lower and lower for logo design a template design and customization.

I am also an amateur business analyst with a lot of experience trading options, currency, stocks. I'm also still going to college for my Masters in business: but, I have a lot of people from the past who are starting businesses coming to me asking how much I would charge to write up a business plan with them.

I've also addressed to do with marketing and PR for social media marketing which is another branch of my business. My problem is: few people that actually know what they're doing that are in my field in the town I live. I do.

I'm really good at my job and not only give advice that I know will create a positive aesthetic outcome. My curse is I completely undercut myself when I have to work with people I know that don't have money and are struggling and need help.

I've come here to ask what the young entrepreneur community thinks.

Please do not leave any ignorant or self undervalued or overvalued statements. I am looking for an answer from someone that has been my position and now feels comfortable with the prices they charge for consulting in the field of business growth and media management.

Run down of the question in black and white:
How much do you think I should be charging hourly for marketing/design/business growth and development with all the knowledge and self success I have had.

[c9consulting]

Usually for consultants, charging on a per-project basis is more beneficial. It allows the consultant to assess the expenses and the time to get the project done, and it lets you (the consultant) work on whatever hours you want without restriction. For instance, if you want to do a project in one day, you can still charge for a project that should take two weeks. Per-project just opens up your schedule more than usual.

[rogercbryan]

Usually for consultants, charging on a per-project basis is more beneficial. It allows the consultant to assess the expenses and the time to get the project done, and it lets you (the consultant) work on whatever hours you want without restriction. For instance, if you want to do a project in one day, you can still charge for a project that should take two weeks. Per-project just opens up your schedule more than usual.

I agree with this statement

[rogercbryan]

A few months ago I started an eBay business for short run just to make some extra money in the ended up being pretty profitable for not never a strong desire to sell people things on eBay. Then where it started web design company for another short run which is turned into a long run company expanding slowly but keeping prices lower and lower for logo design a template design and customization.

I am also an amateur business analyst with a lot of experience trading options, currency, stocks. I'm also still going to college for my Masters in business: but, I have a lot of people from the past who are starting businesses coming to me asking how much I would charge to write up a business plan with them.

I've also addressed to do with marketing and PR for social media marketing which is another branch of my business. My problem is: few people that actually know what they're doing that are in my field in the town I live. I do.

I'm really good at my job and not only give advice that I know will create a positive aesthetic outcome. My curse is I completely undercut myself when I have to work with people I know that don't have money and are struggling and need help.

I've come here to ask what the young entrepreneur community thinks.

Please do not leave any ignorant or self undervalued or overvalued statements. I am looking for an answer from someone that has been my position and now feels comfortable with the prices they charge for consulting in the field of business growth and media management.

Run down of the question in black and white:
How much do you think I should be charging hourly for marketing/design/business growth and development with all the knowledge and self success I have had.

You are starting out exactly like I did. The transition from giving advice to charging a fee isn't easy. You really need to look at it from a project perspective. Most small business owners are scared of hourly fees because they really don't know what the whole thing is going to cost them. It's better for you to sit down with them, go over their needs, present to them what you can do to help, and then give them a flat fee for your services. Make sure also to include what your expectations are for your results.

You may find also though (as I'm starting to) that keeping your skills to yourself and using them to make money creates more income then trying to sell pieces of your eduction off one at a time.

[Marco Santori]

Most small business owners are scared of hourly fees because they really don't know what the whole thing is going to cost them. It's better for you to sit down with them, go over their needs, present to them what you can do to help, and then give them a flat fee for your services.

Quoted for truth! I try to offer flat fees whenever I can. Small business owners hear my hourly rate and - though it's competitive - they are immediately turned off. Entrepreneurs want value for their money, and they often don't equate hours spent with value. I will say, however, that this isn't always the case. Some clients won't think you're going to spend much time on the project, and will want an hourly rate. That's where a retainer comes into play.

In any case, do you have a consulting agreement drafted that you're going to work from? Though form agreements you might find on the internet are often useful, this is not one of those situations. Since consulting can often prove an amorphous service, a consulting agreement has to be airtight if you expect to get paid.