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Value-Based Fees: How to Charge - and Get - What You're Worth (Ultimate Consultant (Pfeiffer))
 
 
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Value-Based Fees: How to Charge - and Get - What You're Worth (Ultimate Consultant (Pfeiffer)) [Hardcover]

Alan Weiss (Author)
4.8 out of 5 stars  See all reviews (11 customer reviews)

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Book Description

0470275847 978-0470275849 September 2, 2008 2
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.

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Editorial Reviews

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.

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 modelled 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


Product Details

  • Hardcover: 288 pages
  • Publisher: Pfeiffer; 2 edition (September 2, 2008)
  • Language: English
  • ISBN-10: 0470275847
  • ISBN-13: 978-0470275849
  • Product Dimensions: 9.3 x 7.3 x 0.9 inches
  • Shipping Weight: 1.4 pounds (View shipping rates and policies)
  • Average Customer Review: 4.8 out of 5 stars  See all reviews (11 customer reviews)
  • Amazon Best Sellers Rank: #67,805 in Books (See Top 100 in Books)

More About the Author

Alan Weiss: Biographical Sketch

Alan Weiss is one of those rare people who can say he is a consultant, speaker and author and mean it. His consulting firm, Summit Consulting Group, Inc. has attracted clients such as Merck, Hewlett-Packard, GE, Mercedes-Benz, State Street Corporation, Times Mirror Group, The Federal Reserve, The New York Times, and over 400 other leading organizations. He serves on the boards of directors of the Trinity Repertory Company, a Tony-Award-winning New England regional theater, and the Newport International Film Festival.
His speaking typically includes 30 keynotes a year at major conferences, and he has been a visiting faculty member at Case Western Reserve University, Boston College, Tufts, St. John's, the University of Illinois, the Institute of Management Studies, and the University of Georgia Graduate School of Business. He has held an appointment as adjunct professor in the Graduate School of Business at the University of Rhode Island where he taught courses on advanced management and consulting skills. He holds the record for selling out the highest priced workshop (on entrepreneurialism) in the 21-year history of New York City's Learning Annex. His Ph.D. is in psychology and he is a member of the American Psychological Society, the American Counseling Association, Division 13 of the American Psychological Association, and the Society for Personality and Social Psychology. He was recently appointed to the Board of Governors of Harvard University's Center for Mental Illness and the Media. He has keynoted for the American Psychological Association on two occasions.
He is a 2006 inductee into the Professional Speaking Hall of Fame' and the concurrent recipient of the National Speakers Association Council of Peers Award of Excellence, representing the top 1% of professional speakers in the world
His prolific publishing includes over 500 articles and 25 books, including his best-seller, Million Dollar Consulting (from McGraw-Hill). His newest is The Million Dollar Consulting' Toolkit. His books have been on the curricula at Villanova, Temple University, and the Wharton School of Business, and have been translated into German, Italian, Arabic, Spanish, Russian, and Chinese.


He is interviewed and quoted frequently in the media, and is an active member of the American Federation of Television and Radio Artists. His career has taken him to 54 countries and 49 states. (He is afraid to go to North Dakota.) Success Magazine has cited him in an editorial devoted to his work as 'a worldwide expert in executive education.' The New York Post calls him 'one of the most highly regarded independent consultants in America.' He is the winner of the prestigious Axiem Award for Excellence in Audio Presentation.
In 2006 he was presented with the Lifetime Achievement Award of the American Press Institute, the first-ever for a non-journalist, and one of only seven awarded in the 60-year history of the association.
He has coached the former and present Miss Rhode Island/Miss America candidates in interviewing skills.
He once appeared on the popular American TV game show Jeopardy, where he lost badly in the first round to a dancing waiter from Iowa.



 

Customer Reviews

11 Reviews
5 star:
 (9)
4 star:
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3 star:    (0)
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Average Customer Review
4.8 out of 5 stars (11 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

17 of 17 people found the following review helpful:
5.0 out of 5 stars Great book judged on its own merit, December 16, 2009
This review is from: Value-Based Fees: How to Charge - and Get - What You're Worth (Ultimate Consultant (Pfeiffer)) (Hardcover)
Yes, this book has material from some other books by Weiss. I don't feel let down, however.

Like GTD, the ideas in this book are ground-breaking and some find it hard to accept. Not that it's hard to imagine how someone could figure this out, or that the concepts are so counter-intuitive. Just that most people think prices are a function of cost, or that there is 'a' market price for a given good or service.

What Weiss points out here is that value, or price, is subjective. This is something everyone experiences daily but can rarely notice.

Second, and most importantly, he outlines how to contract for consulting using a value-based fee, including the sales process. Weiss makes a good case for adopting this approach - good for the consultant and good for the client.

Here's an example of why value-based fees are good (not from the book): hourly, or 'time-metered' pricing will add incentive to increase the low-value '80%'of potential activities to a project. Sticking with value-based fees, or outcome-based fees, puts the incentive on focusing only on the '20%' of activities that will make a real difference. If I hire a consultant, I want results, not deliverables.
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14 of 16 people found the following review helpful:
5.0 out of 5 stars It will change how you price services, December 12, 2008
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This review is from: Value-Based Fees: How to Charge - and Get - What You're Worth (Ultimate Consultant (Pfeiffer)) (Hardcover)
I devoured this book, and then picked up a highlighter and went through it again marking important passages. Its not written in too technical of style, and the author shows a vein of humor that I really appreciated. This book changed how I view consulting fees and I immediately put into practice much of what he recommends. I have asked Santa for two more of his books - can't wait. I highly recommend this book.
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10 of 11 people found the following review helpful:
5.0 out of 5 stars Worthwhile, March 2, 2009
By 
Vision Buidler (Washington State) - See all my reviews
This review is from: Value-Based Fees: How to Charge - and Get - What You're Worth (Ultimate Consultant (Pfeiffer)) (Hardcover)
This is an excellant book to evaluate your consulting business. Even if you do not use value based fees you should just read this to get an understanding of providing value to your client.
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Inside This Book (learn more)
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
resistance point, consulting profession, fee objections, retainer period, remote consulting, retainer work, economic buyer, conceptual agreement, retainer arrangement, retainer relationship, buyer commitment
Key Phrases - Capitalized Phrases (CAPs): (learn more)
Value-Based Fees, Seventy Ways, Fee Progression Strategies, Increase Profits Immediately, Convert Existing Clients, The Concept of Fees, The Lunacy of Time-and-Materials Models, New York, John Adams, Unique Brand, Common Response, The Ultimate Consultant, Alan Weiss, Ultimate Consultant
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Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
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