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Figuring Out Your Billing Rate as an Independent Consultant

Successful Independent Consulting

Most consultants tend to use an hourly rate anyway, because it’s the easiest to figure out, there’s less risk of undercharging, and it’s what most clients are used to. For example, “My rate ranges from $185 to $225 an hour depending on the scope, duration, and complexity of the work.” I did this successfully for years.

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How and When to Raise Your Consulting Rate

Successful Independent Consulting

For example, if your rate is now $150 an hour, what do you think is a logical next step? In my example of $150 hourly, a 5% annual increase works out to $157.50 Third, do some market-rate benchmarking to learn what other consultants are charging, or what clients are paying. Here are four suggestions. Jot it down.

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Now Is the Perfect Time to Raise Your Consulting Billing Rate

Successful Independent Consulting

For example, if your rate is now $150 an hour, what do you think is a logical next step? In my example of $150 hourly, a 5% annual increase works out to $157.50 Do some market-rate benchmarking to learn what other consultants are charging, or what clients are paying. Look at several different numbers and then decide.

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Now Is the Best Time to Raise Your Rates

Successful Independent Consulting

For example, if your rate is now $150 an hour, what do you think is a logical next step? In my example of $150 hourly, a 5% annual increase works out to $157.50 Do some market-rate benchmarking to learn what other consultants are charging, or what clients are paying. Look at several different numbers and then decide.

Policies 195
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 “Additional Responsibilities” in Consulting

Tom Spencer

During both consulting recruiting and the initial months working in consulting, experienced by myself and my friends, the top priority for a consulting career which has been consistently emphasized has been delivering excellent client work. Just to better illustrate it, prime examples include: Social activity planning.

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Quote Your Consulting Billing Rate with Confidence

Successful Independent Consulting

It takes practice to quote your consulting billing rate with confidence. Benchmark so you know your rate is reasonable. Talk with other consultants, do a web search on typical management consulting rates in your city or state, and/or try converting your employee salary to an hourly rate. There are lots of ways to do this.

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Leveraging AI Tools for Business Success

Business Consulting Agency

Explore how AI tools can benefit businesses, provides examples of such tools, and discusses how business consultants can aid in successfully implementing these technologies. Get a consultation. Example Tool: UiPath – A leader in Robotic Process Automation (RPA) that helps businesses automate repetitive office tasks.

Tools 52