Value-Based Fees

ALAN WEISS, PHD, the “Rock Star of Consulting,” is one of the world’s most successful solo consultants. A bestselling author and speaker, he runs Summit Consulting Group, Inc., which serves some of the most recognizable brands in the world, including Merck, Hewlett-Packard, GE, and Mercedes-Benz.

• IntroductionAcknowledgmentsAbout the Authoradd space hereCHAPTER  1         The Origins of ValueWhat People Want Is Not as Important as What They NeedAbundance Agriculture and the ArtsThe Abundance Mind-SetWhy Your Presence Isn’t RequiredThe Importance of Buyer Commitment, Not ComplianceCritical Steps for Buyer CommitmentThe Buoyancy of Brands: How Brands Help FeesCreating Shared SuccessChapter ROICHAPTER  2         The Lunacy of Time-and-Materials ModelsWho Wants to Be as Dumb as a Lawyer?Supply-and-Demand IllogicEthical Conflicts of Interest and Other Minor MattersLimiting Profits, or Why Not Just Forget Domani?Why Lawyers and CPAs Do So PoorlyEducating the Buyer IncorrectlyThe Mercedes-Benz Syndrome   Chapter ROICHAPTER  3         The Basics of Value-Based FeesIt’s Better to Be an Artist Than to Be an EngineerFocusing on Outcomes, Not InputsThe Fallacy and Subversive Nature of “Deliverables”Quantitative and Qualitative Measures and CriteriaMeasuring the UnmeasurableServing the Client’s Self-InterestThe Subtle Transformation: Consultant Past to Client FuturePerpetual Motion, Perpetual ProgressChapter ROICHAPTER  4         How to Establish Value-Based FeesIf You Read Only One Chapter . . .Conceptual Agreement: The Foundation of ValueEstablishing Your Unique ValueCreating the “Good Deal” DynamicThe Incredibly Powerful “Choice of Yeses”Some Formulas for the Faint of HeartChapter ROICHAPTER  5         How to Convert Existing ClientsBe Passionate, Not ZealousThe Litmus Test—Setting PrioritiesOffering New ValueFinding New Buyers Within Existing ClientsFinding New CircumstancesThe ResistanceAbandoning BusinessChapter ROIInterlude: The Case of the Loaded Loading DockCHAPTER  6         The Sublime Nature of Trusted Advisor RelationshipsIt’s Just the Smarts, StupidOptimal Conditions for Trusted Advisor RelationshipsChoosing Time Frames and Creating Realistic ExpectationsOrganizing the Scope and Managing Projects Concurrent with the RetainerCapitalizing on Trusted Advisor RelationshipsAggressively Marketing trusted advisor RelationshipsChapter ROIEthics and Fees, Fees and Ethics: A Mid-Book PracticumCHAPTER  7         Seventy Ways to Raise Fees and/or Increase Profits ImmediatelyAct Today and Receive a Second Bass-o-Matic Free of Charge!Chapter ROICHAPTER  8         How to Prevent and Rebut Fee ObjectionsSince You’ve Heard Them All Before, How Can You Not Know All the Answers?The Four Fundamental Areas of ResistanceMaintaining the Focus on ValueBoring In on the SubjectOffering DiscountsFull Payment in AdvanceUsing “Smack to the Head” ComparisonsChapter ROICHAPTER  9         Setting Fees for Everything ElseHow to Make Money While You  Sleep, Eat, Play, and Make Money ElsewhereKeynote Speaking: Don’t Charge for Your Spoken WordsProductsExploring New, Lucrative FieldsAnd Now for Some PerspectiveChapter ROICHAPTER  10      Fee Progression StrategiesWhy You Fall Behind When You Stand StillEntry-Level FeesTransition to a “Going Concern”Transition to Peer-Level ReferralTransition to the Brand PhaseTransition to Thought Leader and IconAlan’s Axioms for the “Good Deal”CHAPTER  11      Volatility OpportunityValue-Based Fees in Times of Turmoil and CrisisValue Doesn’t Dissipate Due to DistanceWe Don’t Have Time, We Don’t Have MoneyHow Can I Help You?I Need Your GuidanceAPPENDIX A:      Questions for Qualifying the Economic BuyerAPPENDIX B:      Questions for Establishing Business ObjectivesAPPENDIX C:      Questions for Establishing Measures of SuccessAPPENDIX D:      Questions for Establishing ValueAPPENDIX E:       Questions for Assessing Personal Value ContributionAPPENDIX F:       The Difference Between Inputs and Business OutputsIndex