The spirit of fair play

The pricing of consulting services ultimately comes down to an exchange of money for value provided. But establishing a common vision of value is often tough, given client skepticism about consultants and the high fees most consultants charge.

Clients need consultants, but find it increasingly difficult to evaluate their fees. And because a firm's brand name is no longer so important, it's harder than ever for them to price consulting services. So it's easy to understand why the subject of fees can be difficult for clients and consultants alike.

Emphasize the spirit of fair play by setting fees that strike a balance between the client's perception of value and your need to make a reasonable profit. Strive to reduce risk for both sides and bring predictability to the process. Just because you think you can get higher fees from a client, don't necessarily demand them. Seek the rewards of a long-term relationship instead of a short-term gain. Communicate openly when projects are going well and when problems arise. Always aim to bring projects to completion without any fee surprises.


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