Question

Topic: Other

Consultant Rate For Small Businesses

Posted by Anonymous on 5/12/2008 at 5:48 PM ET 125 Points
I have started my own marketing consultant business. My main focus is towards small businesses, and my biggest concern is how to make my rates or set them up.Based on little experience, and wanting to be cost effective to small business owners.
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RESPONSES

  • Posted by Levon on 5/12/2008 at 6:08 PM Accepted
    It is hard to create a rate card when each company has its own unique situation and challenges. Consultants usually charge an hourly rate because of this.
  • Posted by Inbox_Interactive on 5/12/2008 at 6:15 PM Accepted
    It's better to price according to the value of your solution, but if you can't do that, the general rule of thumb is 3x whatever your hourly rate would be if you were employed somewhere else doing the same kind of work.

  • Posted by Jay Hamilton-Roth on 5/12/2008 at 9:41 PM Accepted
    (Un)fortunately, your rate equates to your perception. Charge on the low-side, and people will think you offer a poorer quality product. Charge a lot, and people will think you must be top-notch.

    Initially, your goal isn't to fill your bank account - it's to get experience and build your client list. As your experience increases, so too does your rates, since you'll be more knowledgeable about the real issues your clients face (and know best how to overcome them).

    Rates vary all over the world. Start by looking on Craigslist and on your competitor's websites for pricing. Ask your competitors what they charge and what that price includes.
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