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Value-Based Fees: How to Charge - and Get - What You're Worth
Download Value-Based Fees: How to Charge - and Get - What You're Worth
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From the Inside Flap
Value-Based Fees When Value-Based Fees was first published in 2002, it quickly became the go-to book for consultants who needed a reliable resource for determining how much they should charge their clients for their services. In this thoroughly revised edition of his classic book, Alan Weiss shows how consulting fees are dependent on only two things: value provided in the perception of the buyer and the intent of the buyer and the consultant to act ethically. Many consultants, however, fail to understand that perceived value is the basis of the fee, or that they must translate the importance of their advice into long-term gains for the client in the client's perception. Still others fail to have the courage and the belief system that support the high value delivered to clients, thereby reducing fees to a level commensurate with the consultant's own low self-esteem. Ultimately, says Weiss, consultants, not clients, are the main cause of low consulting fees. Filled with stories of successful consultants, Value-Based Fees clearly illustrates how consultants can educate their clients about value determining worth and consequent investment. Weiss's value-based fees approach is about establishing a win-win dynamic with clients, while accommodating buyers' egos and their belief that "you get what you pay for." This second edition provides proven step-by-step guidance for establishing value-based fees. The book contains Weiss's latest techniques and approaches, which embrace the new technology, globalization, competition, and societal changes affecting our world today. The new edition contains sample proposals, letters of agreement, and other practical tools. It includes Updated examples throughout the book Current information on ethical issues Guidance on making consulting scalable Fee formulas for today's marketplace New chapters on building wealth and the implication of technology fees Value-Based Fees clearly explains how to charge for your value and get what you're worth, providing nontheoretical, pragmatic advice that will help to improve any consultant's practice immediately.
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From the Back Cover
Praise for Value-Based Fees "Many people say they understand value pricing. The undisputed global thought leader on the subject is Alan Weiss. He has personally sold over $100M in value-based fees and personally mentored over 650 consultants—helping them to increase revenue by over $600M. Alan Weiss can help anyone who is prepared to listen." — Rob Nixon, consultant to the accounting profession, www.robnixon.com "Alan Weiss's value-based fees approach has transformed my business. I'm more efficient, and my clients get better results. It's a huge win-win." —Amanda Setili, managing partner, Setili & Associates, LLC "The implementation of value-based fees caused a significant growth of our revenues and profit. Even more important, following Alan's business model led to better relationships with our clients and to projects that focus on business outcomes rather than on deliverables." —Dr. Guido Quelle, managing partner, Mandat GmbH, Dortmund, Germany "Within 18 months of working with Alan Weiss and reading his book on value-based fees, I achieved over one million dollars in revenue as a solo practitioner, and have grown that revenue in each of the past three years. There is simply no greater ROI." —Nancy MacKay, Ph.D, president, Inspire Action International Inc., Vancouver, Canada "Your value-based fees concepts have helped me focus on clients' outcome therefore transforming my ability of turning prospects into clients from 20% to 80%. The impact on my cash flow has dramatically improved as well. Thank you." —Chad Barr, president, CB Software Systems, Inc. Shaker Heights, Ohio
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Product details
Hardcover: 288 pages
Publisher: Pfeiffer; 2 edition (September 2, 2008)
Language: English
ISBN-10: 9780470275849
ISBN-13: 978-0470275849
ASIN: 0470275847
Product Dimensions:
7.3 x 1.3 x 9.4 inches
Shipping Weight: 1.4 pounds (View shipping rates and policies)
Average Customer Review:
4.5 out of 5 stars
63 customer reviews
Amazon Best Sellers Rank:
#154,741 in Books (See Top 100 in Books)
I ignored all the reviewers saying that Weiss' earlier books are better. I see why they said that. This book was a lot of fluff.Another mistake I made was underestimating how specific this book is for consultants. I run a freelance audio engineering service. I'm looking for principles and techniques to figure out how I should value and price my service outside of the conventional: $45-75/hr.This book is for people in the 'advice' business. The lessons are based on what your client stands to make from your advice, and deriving your fee from a percentage of that number.
The concepts in this book are good. They make sense for the most part, and are actionable. However, my complaints, as with other books by this author, are the verbosity of the content. What Alan takes 10 pages to describe could easily be boiled down to 10 sentences or less. Also, it seems like whole paragraphs are lifted virtually word-for-word right out of his other books. He even uses the same euphemisms over and over in each of his books.Even with those detractions, however, there is good content to the book and it is worth a read. However, if you've read some of the other books by this author, it might be possible to skip this one as the content will seem somewhat repetitive.
This review may sound like one from the author or other paid representative -- but it isn't. Nonetheless, this tome provided so much insight and structure as to successfully charging value-based fees that in a sense I have "been paid" by the author many times over. I have read other reviews posted about this book that criticize Alan Weiss for merely regurgitating in extended form his shorter booklet on maximizing fees. However, those reviews miss the point that this book is a greatly expanded analysis of the methods and challenges (and how to surmount them) of high-end value-based fee structuring. When I entered private practice a decade ago I was entirely hourly / standard-rate structured. Now, greater than 90% of my work is value-based according the impact on the client's business. And, the AMOUNT I KEEP (Weiss consistently states: "It's not what you make, it's what you KEEP") has skyrocketed and enabled me to become financially independent. In short, I highly recommend this book -- and feel no "conflict of interest" in saying that I am "being paid by the author" -- in a round about manner! Best of success to you!Tom Fuller, MIM, MBA[...]
This book gave me a lot to think about and consider. It was recommended by a friend and I am grateful. I think most people who run businesses need to evaluate this concept.
I purchased this book in January of 2013 and heard Alan speak at the Illinois NSA chapter in March 2013. While I have lots to learn, I started implementing his suggestions into my proposals in March of this year. It is a process but I am finding that I am having a higher closing rate. There is no question it can be difficult to educate the client about the focus of achieving the result not the amount of time I spend on achieving the goal. I am dealing with situation now where the client is concerned about the number of contact hours. I keep reiterating that they have access to me whenever you need me when we are working together to achieve the desired agreed upon result(s).
I'm changing careers to an individual consulting practice in personal productivity, and setting fees has been difficult until I read Alan's book. The ideas presented are big, applicable, and completely changed the way I look at work, value, and rates. I've recommended it to everyone in my network, and they've all found it extremely valuable. It's the only book on the topic I've found that actually gives me tools to change the discussion with clients so that the value of my work (which supports commensurate - and higher - fees) is addressed early on. I wrote a bit more about it on my blog, FYI: "Books, value, fees, and major changes in perspective" - [...] Thanks Alan!
I purchased this book at the recommendation of my business coach and read it within a matter of 2 days. It is full of tips and recommendation for any small coaching business. Since I recently opened up Remembering4You.com, it was essential that I get the proper information on creating value for my customers and for my services. I highly recommend this book for any small business library or training course.Dr. Ethelle Lordinfo@remembering4you.com
Excellent resource -- goes much deeper than Dr. Weiss's other books. Highly recommend to consultants who want to up their game.
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