Your revenue model is an explanation of how you make money. You need to determine how you charge for your services, and what services you charge for. There's a big difference between fee-for-service consulting and project-based consulting pricing models. Learn about additional revenue opportunities like content licensing, referral fees, and sale of ancillary materials.
- Your revenue model explains how you make money.…You need to determine how to charge for the services…you're offering and what services you'll charge for.…There's a big difference between…a fee for service consulting model,…a project-based model, and per unit pricing models.…Fee-for-service gets you an hourly rate.…The upside of this model, is you get paid for your time…so if the project expands, you get paid more money.…The downside is there's pretty much a cap…on what you can charge per hour.…
You get no benefit from being more efficient.…For project-based revenue models,…there's a one-time fee for the entire project.…The upside of this model is,…if you're more efficient, you're more profitable.…But the downside is,…if the scope of that project creeps,…your economics on that project could be terrible.…For unit-based pricing models,…you get paid per unit of output.…I run a leadership training firm.…We charge on a per participant basis.…
Every additional person in the classroom we make more money.…This enables us to do value-based pricing,…
Author
Released
1/24/2018- Identify types of consulting business models.
- Describe revenue models.
- Explain how to estimate and manage costs.
- Price services using pricing strategies.
- Explain how to negotiate deals with clients.
- List effects of responding to RFPs.
- Identify the phases of constructing a consulting engagement.
- Present findings and implement recommendations.
- Describe different ways to manage legal issues.
Skill Level Beginner
Duration
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Welcome1m 11s
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Using this course1m 18s
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1. Define Your Consulting Business
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Determine the work you do3m 37s
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Manage your cost structure2m 39s
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Build your organization2m 18s
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2. Marketing and Selling
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Market your services2m 30s
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Manage marketing platforms2m 35s
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Sell your services2m 17s
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Expand client relationships2m 45s
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3. Contract and Protect Yourself
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Price your services5m 24s
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Using pricing strategies4m 14s
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Negotiate the deal4m 30s
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Respond to RFPs2m 59s
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4. Run the Consulting Engagement
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Form the team2m 17s
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Manage clients1m 50s
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Present the findings2m 53s
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Implement recommendations2m 16s
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5. Handle Administration
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Manage team legal issues2m 17s
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Conduct financial activities2m 47s
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Manage taxes2m 35s
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Manage employee issues2m 16s
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Insure your business2m 26s
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Get licensed and certified2m 15s
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Get support2m 20s
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Conclusion
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Avoid pitfalls2m 59s
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Next steps1m 18s
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Video: Understand your revenue model