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!
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