Managing Client Expectations – Part 2

Don’t Compromise Your Hourly Fee.

Lessons I’ve learned tell me that the only time I will compromise on a fair hourly or monthly project fee is for a legitimate and needy non-profit.   When you have to remind your client weekly that you are doing more work than you are getting paid to do because they are changing goals as you go you need to rethink the contract. Let’s say on initial conversations before any agreement was reached for work to begin, you give them advice about the trends in industry and inside information only an experienced expert like yourself would know.  This happens often. You tell them about social media opportunities or industry trade opportunities that you are aware of and perhaps even educate them to their industry insiders, but you have no agreement to do work for them at that point.  What if they say who?   If a CEO doesn’t know what is going on in their own playing field, and you just educated them to that point – the value is priceless.  Priceless to you because it tells you that they aren’t into their own industry that pays their bills and has the exact exposure they need. Priceless to them for showing what industry knowledge is and how far-reaching it can be, not to mention some possible leads.  The real worth of industry knowledge is well beyond any hourly fee.

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