Episode 93: Deciding on a Pricing Model for Your Consulting Services—with Deb Zahn
In this Craft of Consulting podcast episode, Host Deb Zahn talks about what you need to consider when picking your pricing model(s) so that, whatever you pick, you know that it serves you, your clients, and your consulting business.
Deb explains why there is no perfect pricing model and lays out the key considerations for picking yours. She also talks about how to avoid defaulting to the traditional ways of charging or being overly swayed by the many strong opinions in the consulting world about the so-called “right and wrong way” to charge clients.
Deb wants you to be the boss of your consulting business, including when you pick among pricing models. In this episode, she talks about:
Getting your mindset in a place that is going to help make good choices about how you're going to charge for your services
Understanding that pricing is an emotionally fraught area and has many mindset minefields that you have to get past
Getting past a lack of confidence, imposter syndrome, and perceived scarcity by using intel and evidence
Questioning and interrogating your narratives to verify what is actually going on in your market and dispel what is just chatter in your head
Choosing who you get input from carefully so you can get actionable intel
Taking the time to determine the value of what you can do for consulting clients
Recognizing that value is not how you feel about yourself but what clients are willing to pay for that you can help them achieve
Avoiding defaulting to a particular pricing model because you have been told to or don’t examine what works best for you
Embracing the freedom to be the boss of your consulting business and decide how you want to do it
Recognizing that the goals of picking a pricing model are to support the life you want, get paid for all your value, eliminate and reduce future stress, and eliminate and reduce things you have to do that you don’t get paid for
Considering what an engagement is like, what clients are like, and what your capabilities are when picking a pricing model
Knowing the basic pricing models plus a novel one