Project-Based Billing - A Relationship-Based Option
“Should I bill by the hour or by the project?” This is probably the most common and challenging question in our community of consultants as we strive to be catalysts for change while also making a financial living. We often toil when asked what an engagement will cost or squirm when the direct question, “what is your hourly rate,” gets posed. Our heads start spinning as we ask ourselves the backend questions – What is my time worth? What if it takes me longer (or shorter) than I expected? What do others charge? Are different tasks charged at different rates? What if the client balks at my rate when compared to their own salary? (and the list goes on…) To cope, we either strut our inner peacocks, declaring what we are worth because of our pedigree, history, and potential OR we self-deprecate, feeling guilty that we are asking too much of cash-strapped organizations – all the time praying we can cover our own bills. This is not the roller-coaster ride we need, nor does it create the...