- Hardcover: 288 pages
- Publisher: Pfeiffer; 2 edition (September 2, 2008)
- Language: English
- ISBN-10: 0470275847
- ISBN-13: 978-0470275849
- Product Dimensions: 7.3 x 1.1 x 9.6 inches
- Shipping Weight: 1.4 pounds (View shipping rates and policies)
- Average Customer Review: 4.5 out of 5 stars See all reviews (59 customer reviews)
- Amazon Best Sellers Rank: #97,081 in Books (See Top 100 in Books)
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Value-Based Fees: How to Charge - and Get - What You're Worth 2nd Edition
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From the Inside Flap
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 consultantshelping 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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Top Customer Reviews
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.
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.