How to Price Consulting Services: What’s Your Hourly Rate?

Learn how to price your consulting services with value-based pricing. In this video, I share how to respond when a client asks, "What's your hourly rate?"
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[@ajjames9065]

Great insight. Thank you!

[@TheJonathanStarkShow]

YW, AJ!

[@joeyassyrian]

What about projects like a transaction where there are a lot of variables that impact the number of hours and the likelihood of closing a deal is really dependent on the client and the target accepting the deal? Some firms that work on the seller side charge a base + success fee (% of the transaction), but I work on buy-side..which has a higher failure rate, curious to hear your thoughts

[@TheJonathanStarkShow]

My first step in a case like this would be to reduce the number of variables (i.e., risk of failure) by selling/buying smaller initial phases. Thanks for the question, J!

[@CatraValentine]

An 'older' video (in terms of *the* interweb) but new to me. Here's the thing: how *do* you explain to a client, how you price your stuff. The ominous question that lingers... 'Ok, you have no hourly rate, so on what do base your price... how can I compare your value...' etc. I find it very complicate to communicate this. Haven't found the answer in your videos, as of yet. Would be nice if you'd answered. :)

[@TheJonathanStarkShow]

Great question, I've added it to the queue so I can tackle it!

[@CatraValentine]

Thank you Jonathan! Partially it was answered in your Tuesday mailing-list post. On Alice and how many hrs it'll take. But this goes deeper. It's a dance between honesty and business talk. Since obviously I don't have to present to my client how much, for example, my Autodesk-Subscription will cost me... etc. and how exactly I price things. Just as a background: I'm a freelance Industrial Designer. So I deal more with products than service (though I see shifts in the industry to tackle Design-Think ever more so).

[@TamilFreelanceCoaching]

How to deal with little jobs like fixing a CSS mistake, or client who want to do a bunch of fixes or small tasks and expect to pay like just $100-$200 (even if its okay money like $50/hr)

[@TheJonathanStarkShow]

Hi @BeingRaj! Thanks for the question. May I use your question for an #askjonathan video?

[@TamilFreelanceCoaching]

@@TheJonathanStarkShow Absolutely! Pleasure is mine for my question to be part of an #askjonathan video.

[@prchaser2081]

Where's the video? @@TheJonathanStarkShow

[@horseshoeco7629]

#askjonathan In a lot of your resources you recommend that people charge based on value rather than hourly rates. But it still sounds like the cost is based on hours X rate but just marked up 3-4x. Why don't you don't position it that way? Or are you recommending service providers use a different method to come up with their price once they know the client's measurable outcome?

[@TheJonathanStarkShow]

Check this out: podcast.ditchinghourly.com/episodes/scope-last

[@pibble3962]

Great advice, thank you!