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Consultant Fees - What is a Consultant Worth?


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  Post Number #1  
Old 26th September 2002, 09:57 AM
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db

 
 
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Consultant Fees

There are many sources out there that provide data on what quality folks make. But how much do you think a quality consultant is worth? That is, if you had to pay a consultant to help you, what would it be worth to you? I know what I charge, but what am I worth?

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  Post Number #2  
Old 26th September 2002, 12:16 PM
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Personally, I wish I could have talked my boss into hiring a consultant to get us prepared for ISO17025. Considering the help we've gotten from our assigned auditor for the price we've paid, any consultant would have been a bargain.

But with our company closely watching where every penny goes, it was decided we would go it alone. Gonna bite us but that's life.




Now, if the Cove didn't exist..............



Just curious Dave. Are customers busting down your door looking for your expertise or has traffic slowed?
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  Post Number #3  
Old 26th September 2002, 12:51 PM
energy

 
 
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Re: Consultant Fees

Quote:
db said:

There are many sources out there that provide data on what quality folks make. But how much do you think a quality consultant is worth? That is, if you had to pay a consultant to help you, what would it be worth to you? I know what I charge, but what am I worth?
I don't know what you're worth. In Jan 2001, we contracted a consultant to assist with ISO9001:2000. That included apprx 11 visits, once a month until completion. We would complete assignments at that pace and be ready for a registrar in a year. Knowing full well that companies find it difficult to maintain this ambitious schedule, the consultant's terms were:

$1500 down
$4K each month for 3 months
Plus out of pocket travel expenses, billed at the end of each month.

Now, if the company decides to prolong the effort due to lack of resources or Commitment, he is paid up in three months and waits for you to call him again. If I were a consultant, I would insist on as much payment I could get up front as proof that the company is serious about this endeavor. Why would any company sign up for that and not follow through? Just ask me!
  Post Number #4  
Old 26th September 2002, 01:25 PM
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db

 
 
Total Posts: 2,590
Quote:
Just curious Dave. Are customers busting down your door looking for your expertise or has traffic slowed?
Interesting question Ken, there has been an increase in interest. My question, however was not to get a feel as to what I should be charging to get more clients.

I would like a new motorcycle, but thought of paying more for a new bike than I did for my car has kept me from making the deal. I might be able to charge a billion dollars for my services and still do a good business. But in the eyes of the customer, what am I worth? Sometimes we buy stuff cuz we hafta, not because we think they are worth it.
  Post Number #5  
Old 26th September 2002, 04:01 PM
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db,

In our area, daily rates seem to run $500 - $1,500 typically, depending on the specialty of experience. For instance, if I want someone that specializes in the software development industry, I'm going to have to pay more than I would for someone with a general manufacturing background.

I prefer to hire consultants at a half day rate. Rarely does anyone in our company have a whole day that they can spend with a consultant. So a half day a week or twice a week works better. You get a half day of instruction and then you can go back to your regular day-to-day duties and work on whatever assignment the consultant left you with in your free time before he returns.

Hank
  Post Number #6  
Old 27th September 2002, 01:40 PM
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Total Posts: 70
Do I remember an ageold quote say:

"Each one of us gets paid exactly what he is worth. Not a penny less, not a penny more"

  Post Number #7  
Old 27th September 2002, 02:30 PM
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Total Posts: 37
Ah the age old quote probably doesn't account for labor contracts and/or managements' refusal to negotiate a new agreement after the expiration of the contract, keeping employees working under the previous agreement for 3+ years after it expired because they have a lot more money and a lot more lawyers than the union does and the union has a no-strike policy.

[Deep breath]. But that's not really about consulting. Sorry. Carry on.
  Post Number #8  
Old 27th September 2002, 02:37 PM
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db

 
 
Total Posts: 2,590
Get it off your chest

Feel better now, Carl?
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