If you are starting a consulting practice, one of your first decisions is how much to charge for your expertise. Price yourself too low and you undervalue your work; too high and you may lose opportunities. Two common approaches can help you establish an appropriate rate: value pricing and cost-plus pricing. 1. Value Pricing Value pricing sets your fee according to what your client believes your expertise is worth rather than the amount of time you spend. Consultants often use this approach because clients purchase outcomes, not hours. Your fee may be structured as a fixed project price or as an [...]