21 Good Reasons

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Time-based charging exists in many professional services, yet it is far from the best way of charging for those services, from both the Clients' and the Consultants' perspectives

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PowerPoint Presentation:

David Winch www.davidwinch.co.uk 21 Good Reasons Why You Shouldn’t Charge By The Hour Or Day with David Winch Certain images and/or photos in this presentation are the copyrighted property of 123RF Limited, their Contributors or Licensed Partners and are being used with permission under license. These images and/or photos may not be copied or downloaded without permission from 123RF Limited.

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David Winch www.davidwinch.co.uk What's Wrong With Time-Based Pricing? For the Client

PowerPoint Presentation:

David Winch www.davidwinch.co.uk What's Wrong With Time-Based Pricing? For the Client Conflict of interest – Adversarial

PowerPoint Presentation:

David Winch www.davidwinch.co.uk Conflict of interest – Adversarial Frankness and openness discouraged What's Wrong With Time-Based Pricing? For the Client

PowerPoint Presentation:

David Winch www.davidwinch.co.uk What's Wrong With Time-Based Pricing? For the Client Conflict of interest – Adversarial Frankness and openness discouraged Client takes all the risks

PowerPoint Presentation:

David Winch www.davidwinch.co.uk Conflict of interest – Adversarial Frankness and openness discouraged Client takes all the risks Focus on effort What's Wrong With Time-Based Pricing? For the Client

PowerPoint Presentation:

David Winch www.davidwinch.co.uk Conflict of interest – Adversarial Frankness and openness discouraged Client takes all the risks Focus on effort Tempted into a price-war What's Wrong With Time-Based Pricing? For the Client

PowerPoint Presentation:

David Winch www.davidwinch.co.uk Conflict of interest – Adversarial Frankness and openness discouraged Client takes all the risks Focus on effort Tempted into a price-war No reason for Consultant to work at getting better at their job What's Wrong With Time-Based Pricing? For the Client

PowerPoint Presentation:

David Winch www.davidwinch.co.uk Conflict of interest – Adversarial Frankness and openness discouraged Client takes all the risks Focus on effort Tempted into a price-war No reason for Consultant to work at getting better at their job Lack of Consultant focus on customer service What's Wrong With Time-Based Pricing? For the Client

PowerPoint Presentation:

David Winch www.davidwinch.co.uk What's Wrong With Time-Based Pricing? For the Client Conflict of interest – Adversarial Frankness and openness discouraged Client takes all the risks Focus on effort Tempted into a price-war No reason for Consultant to work at getting better at their job Lack of Consultant focus on customer service Drawn into a long-hours culture

PowerPoint Presentation:

David Winch www.davidwinch.co.uk What's Wrong With Time-Based Pricing? For the Consultant

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David Winch www.davidwinch.co.uk Potential earnings capped – Long hours What's Wrong With Time-Based Pricing? For the Consultant

PowerPoint Presentation:

David Winch www.davidwinch.co.uk What's Wrong With Time-Based Pricing? For the Consultant Potential earnings capped – Long hours Disincentive to get better at their job

PowerPoint Presentation:

David Winch www.davidwinch.co.uk Potential earnings capped – Long hours Disincentive to get better at their job Client unwilling to share full information What's Wrong With Time-Based Pricing? For the Consultant

PowerPoint Presentation:

David Winch www.davidwinch.co.uk What's Wrong With Time-Based Pricing? For the Consultant Potential earnings capped – Long hours Disincentive to get better at their job Client unwilling to share full information Always charge same price for same service

PowerPoint Presentation:

David Winch www.davidwinch.co.uk Potential earnings capped – Long hours Disincentive to get better at their job Client unwilling to share full information Always charge same price for same service Client continually makes buying decisions What's Wrong With Time-Based Pricing? For the Consultant

PowerPoint Presentation:

David Winch www.davidwinch.co.uk What's Wrong With Time-Based Pricing? For the Consultant Potential earnings capped – Long hours Disincentive to get better at their job Client unwilling to share full information Always charge same price for same service Client continually makes buying decisions Client can buy more time, any time

PowerPoint Presentation:

David Winch www.davidwinch.co.uk Potential earnings capped – Long hours Disincentive to get better at their job Client unwilling to share full information Always charge same price for same service Client continually makes buying decisions Client can buy more time, any time Client sees fee as a cost What's Wrong With Time-Based Pricing? For the Consultant

PowerPoint Presentation:

David Winch www.davidwinch.co.uk What's Wrong With Time-Based Pricing? For the Consultant Potential earnings capped – Long hours Disincentive to get better at their job Client unwilling to share full information Always charge same price for same service Client continually makes buying decisions Client can buy more time, any time Client sees fee as a cost Invoicing after the event – Gets paid even later

PowerPoint Presentation:

David Winch www.davidwinch.co.uk What's Wrong With Time-Based Pricing? For the Consultant Potential earnings capped – Long hours Disincentive to get better at their job Client unwilling to share full information Always charge same price for same service Client continually makes buying decisions Client can buy more time, any time Client sees fee as a cost Invoicing after the event – Gets paid even later Tracking time is a huge burden

PowerPoint Presentation:

David Winch www.davidwinch.co.uk Potential earnings capped – Long hours Disincentive to get better at their job Client unwilling to share full information Always charge same price for same service Client continually makes buying decisions Client can buy more time, any time Client sees fee as a cost Invoicing after the event – Gets paid even later Tracking your time is a huge burden Arbitrary charge-out rate cannot be defended What's Wrong With Time-Based Pricing? For the Consultant

PowerPoint Presentation:

David Winch www.davidwinch.co.uk Potential earnings capped – Long hours Disincentive to get better at their job Client unwilling to share full information Always charge same price for same service Client continually makes buying decisions Client can buy more time, any time Client sees fee as a cost Invoicing after the event – Gets paid even later Tracking your time is a huge burden Arbitrary charge-out rate cannot be defended Client only remembers charge-out rate What's Wrong With Time-Based Pricing? For the Consultant

PowerPoint Presentation:

David Winch www.davidwinch.co.uk Potential earnings capped – Long hours Disincentive to get better at their job Client unwilling to share full information Always charge same price for same service Client continually makes buying decisions Client can buy more time, any time Client sees fee as a cost Invoicing after the event – Gets paid even later Tracking your time is a huge burden Arbitrary charge-out rate cannot be defended Client only remembers charge-out rate Forced into a price-war What's Wrong With Time-Based Pricing? For the Consultant

PowerPoint Presentation:

David Winch www.davidwinch.co.uk What's Wrong With Time-Based Pricing? For the Consultant Potential earnings capped – Long hours Disincentive to get better at their job Client unwilling to share full information Always charge same price for same service Client continually makes buying decisions Client can buy more time, any time Client sees fee as a cost Invoicing after the event – Gets paid even later Tracking your time is a huge burden Arbitrary charge-out rate cannot be defended Client only remembers charge-out rate Forced into a price-war Paradoxically results in lower fees

PowerPoint Presentation:

David Winch www.davidwinch.co.uk For your FREE copy of my book Make Sales Without Selling And Ensure You’re Paid What You’re Worth www.sws3.co.uk Certain images and/or photos in this presentation are the copyrighted property of 123RF Limited, their Contributors or Licensed Partners and are being used with permission under license. These images and/or photos may not be copied or downloaded without permission from 123RF Limited.

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