Strategies To Increase Fees Performance From Your Strategic Thinking Business Coach
Strategies To Increase Fees Performance From Your Strategic Thinking Business Coach
Some readers of this article are already enumerating why this billing on “value received” will not work or why it will not be accepted. With that being said, I will attempt to outline some strategies that I believe will enable a professional firm to increase their professional fees and improve their performance. Your Strategic Thinking Business Coach offers the following strategies:
Strategy #1: Develop and adopt an understanding that the value you provide to your client has nothing to do with the number of your billable hours.
Strategy #2: Do not develop your fees from billable time and other arbitrary forms of measurement. Develop a professional fee on the “value” of your professional services to the client.
Strategy #3: Develop and commit to specific goals & objectives but avoid assigning a specific number of hours to each task. I found this exercise to provide great “fodder” for the nit pickers who like to argue that you have estimated or assigned too many hours for certain tasks.
Strategy #4: Develop and emphasize a list of benefits from the use of your professional services.
Strategy #5: Make more effective use of email and telephone, rather than face-to-face meetings. Create a higher perceived value of your professional services by providing access to your clients to contact you whenever they need some feedback.
Strategy #6: Focus your efforts on strategic work, rather than tactical work. Have the client do the tactical work.
Strategy Tip #7: Always keep your client informed on your progress on the project. Communicate clearly and provide timely progress reports on an agreed upon time basis.
Strategy #8: Openly communicate with your client regarding the good and bad news about the project. Do not keep the bad news from your client.
Strategy #9: Seek clients that will be open minded to the “value” based compensation for professional services.
Strategy #10: Never agree to accept a contingency payment for your professional services. There are so many variables that are not within your control and you could do everything right and your client could do one thing wrong and cause the project to fail and therefore you would not receive any compensation. It has been my experience that people who insist on contingency payments for your services are those who would never accept this type of compensation. I believe it is important that without an investment from your client, there is no real commitment.
Your strategic thinking business coach encourages you to fully realize the benefits of business coaching to strategically increase your professional service fees and improve your professional performance. If you would like to learn more about how a strategic thinking business coach can facilitate and guide you in that endeavor, please contact Glenn Ebersole today through his website at www.businesscoach4u.com or by email at jgecoach@aol.com
Strategies To Increase Fees Performance From Your Strategic Thinking Business Coach - To learn more about this author, visit Glenn Ebersole's Website.
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Professional service firms are still struggling when it comes to increasing their professional fees and improving their performance. Too many of the firms are doing business basically as outsourced labor and getting paid strictly on number of hours of billable time plus expenses. The missing ingredient with this concept is not getting paid for the “value” they are providing to the client, which should always exceed the cost of the billable time. There has been some progress made in some of the more progressive professional service firms to bill clients on the “value received,” which is negotiated. There is a long way to go before we see this as the “norm” for professional firms.
Some readers of this article are already enumerating why this billing on “value received” will not work or why it will not be accepted. With that being said, I will attempt to outline some strategies that I believe will enable a professional firm to increase their professional fees and improve their performance. Your Strategic Thinking Business Coach offers the following strategies:
Strategy #1: Develop and adopt an understanding that the value you provide to your client has nothing to do with the number of your billable hours.
Strategy #2: Do not develop your fees from billable time and other arbitrary forms of measurement. Develop a professional fee on the “value” of your professional services to the client.
Strategy #3: Develop and commit to specific goals & objectives but avoid assigning a specific number of hours to each task. I found this exercise to provide great “fodder” for the nit pickers who like to argue that you have estimated or assigned too many hours for certain tasks.
Strategy #4: Develop and emphasize a list of benefits from the use of your professional services.
Strategy #5: Make more effective use of email and telephone, rather than face-to-face meetings. Create a higher perceived value of your professional services by providing access to your clients to contact you whenever they need some feedback.
Strategy #6: Focus your efforts on strategic work, rather than tactical work. Have the client do the tactical work.
Strategy Tip #7: Always keep your client informed on your progress on the project. Communicate clearly and provide timely progress reports on an agreed upon time basis.
Strategy #8: Openly communicate with your client regarding the good and bad news about the project. Do not keep the bad news from your client.
Strategy #9: Seek clients that will be open minded to the “value” based compensation for professional services.
Strategy #10: Never agree to accept a contingency payment for your professional services. There are so many variables that are not within your control and you could do everything right and your client could do one thing wrong and cause the project to fail and therefore you would not receive any compensation. It has been my experience that people who insist on contingency payments for your services are those who would never accept this type of compensation. I believe it is important that without an investment from your client, there is no real commitment.
Your strategic thinking business coach encourages you to fully realize the benefits of business coaching to strategically increase your professional service fees and improve your professional performance. If you would like to learn more about how a strategic thinking business coach can facilitate and guide you in that endeavor, please contact Glenn Ebersole today through his website at www.businesscoach4u.com or by email at jgecoach@aol.com
Strategies To Increase Fees Performance From Your Strategic Thinking Business Coach - To learn more about this author, visit Glenn Ebersole's Website.
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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Dianne CramptonDianne Crampton is an executive leadership coach, team culture consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. Dianne's contribution to the 2010 Pfeiffer Consulting Journal (an imprint of John Wiley and Sons Publishers) entitled TIGERS Hearted Teams is available in November 2009. Her new book TIGERS Among Us: 5 Winning Business Team Cultures And Why, Three Creeks Publishing will release in March 2010. To receive publishing discounts, subscribe to the free TigerTracks Newsletter here. - Visit Dianne Crampton's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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