It simply scares them off…because they compare it to every other hourly rate they’ve seen. Not only does this limit your ability to scale your business there are far fewer clients willing to pay ‘high’ hourly rates. What if you want to grow your business to $50k-$100k+ per month? Instead of charging $150/hr why not $350/hr.īut how many hours a day are you actually able to spend on client work? Instead of working 100 hours at $150/hr what if you could charge $25,000 or $40,000 and get the work done part time over two weeks? Some consultants believe that charging a high hourly rate fixes this problem. You limit your ability to scale your business because more income means more work for you to do.You’re incentivized to take longer to complete the work because you’ll get paid more.You’ve grouped yourself together with every other person working on an hourly rate (plumbers, fast food servers, administrative assistants, etc).Your client will hold back calling you and asking you for feedback because it might lead to more work.Your client will avoid getting you to do important work because they know it will cost them more.Your client will always want you to work less because they’ll pay you less.Here are 6 reasons to avoid the deadly hourly rate: The news talks about hourly wages almost every day.īut if you’re charging a consulting hourly rate you’re not only doing a disservice to your client and your business – you’re also leaving a great deal of money on the table. Society has made the hourly rate the standard way to get paid.
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