What and how to charge clients is a topic that if often discussed in consulting circles. Today’s guest tipster Michael J. Katz shares his thoughts.
Blue Penguin Development Michael Katz’s recent article in Rain Today, Don’t Be Spooked by Flat-Rate Billing, likens fixed-fee billing to all-you-can-eat candy consumption at Halloween. Here are his reasons for encouraging you to abandon charging clients by the hour and moving to flat-rate billing.
- It’s better for my clients. With no clock ticking,conversations are more relaxed, I get more involved in multiple aspects of their business, and the longer conversations gain me a greater insight into who my clients are.
- It’s better for me. Fixed-fee billing has liberated me from tracking my time in 15 minute increments. I work on client ideas whenever I get one, and don’t have to worry about how to bill for it.
TIP:If you are starting out, or unhappy with hourly billing, give this approach some thought. The fear that clients will call every day and take advantage of you hasn’t happened for him. Click here to read his entire article at our IMC USA Affiliate RainToday.