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Friday, August 18, 2006

Hourly Rates - Don’t Lowball To Get Clients

The hourly rates you charge clients are closely related to your success. You must make enough to cover all your overhead, including taxes, and still support you and your family as well as your staff.

The most common mistake new consultants make is that they lowball to get customers. You can’t simply double or triple your rates after the first job – you’ll never keep any clients. At the same time, you can raise your prices 5% to 15% over time in order to keep up with inflation and rising rates.

You want to attract quality clients not just paying ones. By advertising a slightly discounted price, you can save yourself time in the long run, and you can easily raise your rates just a little after the initial project.

To learn more, read the entire article (link above).

Blogged by Joshua Feinberg