Help!
I'm looking to start consulting and hoping to get some much needed advice on fee structure please. I scale organizations from the ground up to 10,000's+. I focus on providing the tools and experiences to instill operational rigor and accountability, create scalable and sustainability functions and develop individuals to lead with head and heart.
Fee structure questions:
a) There is a wide range in consulting fees, how did you determine yours when you started and then at what point did you increase your rates (if you did)? Or did you start with the rate you believe is commensurate with your expertise? I know I need to take into account my fee must offset taxes/benefits expenses that I pay out of pocket.
b) How do you determine between charging an hourly rate or a flat fee for a project. What's the trigger points as you review SOW from companies?
c) Is your fee solely compensation ($$) or are you accepting a blend of cash and equity? If the latter, how did you determine the balance? How did the company being public or not factor into determining how you structured a mix between cash and equity?
Appreciate all and any insight from this fabulous group!
Lisa Clifford
Marketing Ninja | Cannabis & Finance Co. Owner
44
10/05/22 at 3:32AM UTC
Its been over a year since this post went up. How is it going?
Anonymous
10/08/22 at 4:38PM UTC
thank you for asking and following up. I landed a handful of engagements, though towards mid year in 2021 was approached regarding a full time role to help shape the future of work. I jumped in and have been thrilled with my decision. I'm still a novice when it comes to independent consulting, but definitely learned during that brief period. Hope all is well!
Rachelle CarriéEQ Coach
19
05/06/21 at 2:58PM UTC
I hope this helps!
Anonymous
05/06/21 at 6:41PM UTC
This is great! thank you for sharing!!! Good luck with your consulting business and would love to hear how it goes. You've got this!
Rachelle CarriéEQ Coach
19
05/06/21 at 2:58PM UTC
Here is an article that I bookmarked as I being my consult business as well:)
https://theb2bmarketer.com/the-4-consulting-fee-types-which-ones-to-use-and-when/#tve-jump-1712beef166
Cheryl La MonicaExperienced Finance Professional
11
04/13/21 at 3:52PM UTC
I just finished an Executive Education Program- GMP course at Harvard Business School. I want to know more about consulting opportunities and work life at the Big 4. How are the teams organized in the diverse divisions? What type of expertise are these firms looking for?
Anonymous
04/05/21 at 9:10PM UTC
What industry/niche are you looking to do consulting in?
Anonymous
04/08/21 at 8:26PM UTC
tech ... social media platforms
Kim RoffeyExperienced strategist and consultant
120
04/04/21 at 3:37PM UTC
There are many elements that could be taken into consideration when setting your comp as an independent consultant including your past work, credentials, education, specific consulting experience, what level of the client org you’re working for, etc. I spent the past 6 years with a firm that placed independent consultants with F1000 clients. I’d be happy to talk with you directly about this if you’d like. Please feel free to DM me directly if you’d like to discuss.
