Consulting Tips from the Million Dollar Consultant:
Forty Methods to Increase and/or Protect Fees
By Alan Weiss PhD and partner with Patricia Fripp in The Odd Couple Marketing Seminar.
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Fees remain a topic of unending interest according to my mail, so here is a compilation of tips and ideas. Any two or three that you can use will probably increase your profits immediately.

1.Establish value collaboratively with the client.
2.Base fees on value, not on task.
3.Never use time as the basis of your value.
4.Don't stop with what the client wants. Find out what the client needs.
5.Think of the fourth sale first. Fees are cumulative, not situational.
6.Engage the client in the diagnosis. Don't be prescriptive.
7.Never voluntarily offer options to reduce fees.
8.Add a premium if you personally "do it all."
9.If you're forced to consider fee reduction, reduce value first.
10.Provide options every time: the choice of "yeses."
11.Always provide an option that is comprehensive and over-budget.
12.As early as possible, ask the key scope question: "What are your objectives?"
13.Broaden objectives as appropriate to increase value.
14.Ensure that the client is aware of the full range of your services.
15.If something is not on your playing field, subcontract.
16.Always ask yourself, "Why me, why now, why in this manner?"
17.Determine how many options the buyer perceives other than you.
18.Use proposals as confirmations, not explorations.
19.When asked prematurely about fees, reply, "I don't know."
20.If you must lower fees, seek a quid pro quo from the buyer.
21.Do not accept troublesome, unpleasant, or suspicious business.
22.When collaborating or subcontracting, use objective apportionment.
23.Any highly-paid employee must bring in new business, not merely deliver.
24.Seek out new economic buyers laterally during your projects.
25.It is better to do something pro bono than to do it for a low fee.
26.Fees have nothing to do with supply and demand, only with value.
27.If you are unaware of current market fee ranges, you're undercharging.
28.Psychologically, higher fees create higher value in the buyer's mind.
29.Value can include subjective as well as objective measures.
30.Introduce new value to existing clients to raise fees in these accounts.
31.Do not accept referral business on the same basis (e.g., hourly) as the source.
32.When forced into phases, offer partial rebates to guarantee future business.
33.At least every two years, consider jettisoning the bottom 15% of business.
34.Start with payment terms maximally beneficial to you every time.
35.Offer incentives for one-time, full payments.
36.Never accept payment subject to conditions to be met upon completion.
37.Focus on improvement, not problem solving.
38.Provide proactive ideas, bench marking, best practices from experience.
39.Practice stating and explaining your fees.
40.Always be prepared to walk away from business.

The Odd Couple always receives rave reviews.

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Alan Weiss is the consultant’s consultant. Author of 33 books and my partner in The
Odd Couple Marketing & Strategy Seminar

Consulting Tips from the Million Dollar Consultant:
How to Deal with People Who Always Want A Deal

I’m constantly surprised at the amount of mail and calls I receive asking advice on how to deal with clients who constantly want to bargain. I’m surprised because many consultants apparently don’t understand that once you make a single concession on price, you’ve enabled a behavior which will inevitably cost you money and probably drive you crazy.

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Many top speakers say “Your speech is your best marketing.”

OK…be honest…are you spending more time Twittering than learning to improve your presentations?

Tweet this…To increase your performance impact AND your income, log into Fripp’s April 19 NSA U Webinar! From Patricia Fripp, you will learn little-known presentation techniques that come from screen-writing, comedy, and advanced speech coaching.

Learning Objectives:

  • Simplify your speech structure
  • Adapt two lessons from Jerry Seinfeld
  • Implement ideas from Hollywood screen writers
  • Intensify your delivery
  • Learn from Fripp’s favorite Las Vegas performers
  • Maximize your delivery impact and your audience buy-in.

NSA WEBINAR – MONDAY April 19, 2010
10:00am – 11:00am PST
1:00pm – 2:00pm EST
$39 NSA Members / $49 Non Members

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527 Hugo Street, San Francisco, CA 94122
(800)634-3035, (415)753-6556, Fax (415)753-0914
PF****@***pp.com,
fripp.com

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This morning at the Golden Gate Breakfast Club the members sang “Happy Birthday.” Part of our tradition is we all sing at different speeds and the idea is to be really bad. However, as you can see I looked really good. In fact, these photos remind me of my mother. We both agreed, “You can’t be too rich, too thin, or too totally overdress!”

The comments from the mostly male members…”Patricia is that satellite or Dish?” and “Did you buy that hat from a gay mariachi?”

   

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Be a Star: 8 Tips to Make the Most of Your TV Appearance

Susan Harrow gives advice on making the most of TV appearances. This is a real life example of Mark Davis. He is an amazing young man and friend from San Francisco I met through Toastmasters.
“The Escape production crew interviewed me the afternoon of Friday June 8 at the Bay Club and shot some “B-roll” footage of me training clients. The actual race was on Sunday June 10 with an approximate start time of 8 am. I finished by 12 noon.

*SUSAN’S NOTE: “B-roll” means background shots to be used when the story is edited to illustrate the commentary and give “backstory” to bring the audience quickly up to speed to the present on-screen story.*

1. Make Sure Your Story Has “Human Interest”

To my shock and surprise, there were only two “human interest” stories, thus I had a better chance of getting more air time. Contrary to prior broadcasts, they followed me through the whole course with interview questions!!! (This is after spending 3 hours with them on Friday before the race).

*SUSAN’S NOTE: Any kind of dramatic visible change is ripe for TV coverage. Change that can be seen instantly (in this instance going from fat to fit) is easily understood visually. And it’s a success story anyone who has battled even a few pounds is interested in).*
2. Bring or Wear Your Props

Also, at the finish line they took an extreme close-up of the wording I had plastered all over my T-Shirt. I then said: ‘Let me explain what this website is all about,’ and told the signature story of my own weight loss.

*SUSAN’S NOTE: Very smart move. Wearing a curiosity provoking prop gives a natural segue to talking about the points you want to cover.*
3. Always Video and Audio Tape Your TV Appearances and Speaking Engagements

The day after the race, I got an urgent call from the New York TV producers. I had mentioned that I do motivational speaking during the interview. Did I have anything on tape? I did a 40 minute keynote pep talk to a rookie triathlon group the night before the Friday interviews and taped it anticipating such a request. However I did not feel it was my best effort as I was stressed and tired from all of the race/media/baby walking duties. I told the producer this and the exact reply was: ‘Don’t worry Mark; we will only make you look great!’

*SUSAN’S NOTE: Other producers want to see how you and your stories translate on TV. They are looking for raw talent, not someone slick and polished. In fact, they want someone just the opposite–someone who has verve and speaks spontaneously in a way that anyone can understand.

By the way, one of the complaints about the last group of contestants on the hit show “Survivor,” was that they were “too media savvy” which really meant too careful and guarded. That is not to say you shouldn’t practice your sound bites and know your message; it means that you need to preserve your own honest emotions and expressions. Be genuine.

An Aside: Another reason to tape all your appearances and speaking engagements is if your audio/video tapes are good enough you can later sell them as products on your website, and at your next speaking engagement.*
4. Act In A Heartfelt Way And You Will Be Automatically Compelling

As for the race itself, I got very sick throughout the course and struggled. This added to the drama: Will Mark be able to finish? I did finish strong and did a Lance Armstrong (The cyclist who recovered from cancer and competed in the 2000 Tour de France). When I was being interviewed by NBC at the finish line I ran over and kissed and hugged my wife and took Sterling (my daughter) and held her up and kissed her and said: ‘This is my real reward’ and ‘My dad was an Ironman for me and now I hope to be an Ironman for my daughter.’ Of course, I was operating on heartfelt emotion throughout the interviews. I would have done what I did camera or no camera. However, it made for a great scene and sound bite and I got to close out the show.

*SUSAN’S NOTE: Adversity creates tension and drama. In addition, the audience connected to Mark because they all understand what it’s like to do something for a loved one — especially a small child. A heartfelt message with strong emotion increases your chance of extra media coverage.*
5. Embrace the Opportunities That Present Themselves

A woman from Los Angeles who saw me on NBC is flying herself and her sister up to San Francisco to train with me. These sessions will pay for a good portion of the website. Other people from around the country are contacting me about e-training (which I may or may not do). A guy from a video production company saw me and we are talking about a video.

*SUSAN’S NOTE: All kinds of things can happen that you could never predict when you begin to do publicity. That’s part of the richness that makes PR so exciting E-training for working out? Who would have thought?*
6. Prepare to Make The Most Of The Results Of Publicity

Before the show I rushed to get a website up that offers a subscribe/unsubscribe to my “Weekly Enlightenment” e-zine and archives. I plan on using this to market my book and provide media information. My project manager tells me that 22% of visitors to my site opt to subscribe. A high benchmark “opt in” subscribe rate is 4%. No one has unsubscribed. As a matter of fact my e-zine encourages people to forward the e-zine and subscribe others. The word of mouth and the speed of the Internet will spread my message faster than the sound of a mouse-click. The best part is this site will be ready for when I do Hawaii Ironman, Oprah and Cristina (the Spanish language equivalent of Oprah. I am very fluent in Spanish and my Univision contact is working on this, after I provided the idea!).

*SUSAN’S NOTE: Make sure you’ve tested everything on your site thoroughly so it can handle a rush of visitors without crashing. You don’t want to lose all the connections you can make from your publicity because of some technical snafu.*
7. Do Anything You Can To Help The Producers Do A Great Show

All told, I ended up with a few seconds shy of 4 minutes of NBC national airtime, more than anybody on the show including the winners of the race and NFL quarterback Doug ‘I can’t swim’ Flutie (the media people told me he wasn’t being as cooperative as they would like; I probably looked like a saint compared to him and I am sure that helped). More people will continue to see the broadcast through videotape. And I now have a professionally produced, very compelling story about me that I can send to many other PR outlets. I have already contacted NBC about permission to use the video on my website.

*SUSAN’S NOTE: It goes without saying that you will be gracious and accommodating. Volunteer to do anything extra you can to help out and you will be remembered. Then send out that video tape ASAP to the shows you want to be on next — and remember to present a new and different angle. Every producer wants his show to be the first of its kind, not a copycat of a competitor’s.*
8. Work All the Angles

I am already anticipating my next steps: getting sponsors, leveraging the tape to get into Hawaii Ironman (even bigger TV audience) and of course Oprah. By that time I will have a book ready.

I am very confident this will all happen! It has taken me 5 years but all of the Toastmasters training (I co-founded a Bay Club chapter with Patricia Fripp), the classes such as yours, and the never say die attitude are paying off. It is like striking oil…long time drilling and then suddenly a gusher!

If you are a Toastmaster on not your can benefit from World Champions Edge. A speech coaching and public speaking training community. http://www.worldchampionsedge.com/
The coaching Champs are Ed Tate, Darren LaCroix, Mark Brown, Craig Valentine and their "plus one" Patricia Fripp. First month $1 to see the value. After that only $29.95 and many benefits.

*SUSAN’S NOTE: I couldn’t have said it better myself. Wishing you all a Yosemite sized gusher.*

*Thank you to Mark C. Davis, xBigman.com, for sharing his story that illustrates the use of my tips.*

Copyright (c) 2006 by Susan Harrow. All rights reserved.

Good media leads to speaking engagements. If you need to learn how to prepare or present a speech contact Patricia Fripp.

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Enjoy this video excerpt from one of Patricia Fripp’s DVDs for professional speakers, The Speech as Product: Write It and They Will Pay…Not Necessarily. This DVD teaches professional speakers how to develop presentations that clients will actually pay for.

Do you want to enter the competive world of motivational speaking? If so, you need to take your public speaking to a new level. How can you position yourself and your expertise so you are the client’s obvious choice? Be honest, do you have a speech that is so interesting, versatile, and structured to adapt to various audiences and industries? One which showcases your expertise? That every time you deliver it you are guaranteed to receive more bookings? When was the last time you revisited your content to improve it?  Learn more: http://www.patriciafripp.com/publicspeakingresources/thespeech.html

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Sell-Yourself Tips for Consultants

by Patricia Fripp, CSP, CPAE

As a consultant, you are continually selling yourself to a committee or Board of Directors. Present the best product you can.

Rehearse your opening. You have only thirty seconds to grab the interest of your audience. Don't waste it.

Wrong: "Ladies and gentlemen, thank you for the opportunity…"

Right: "In the next ten minutes you will be convinced you that the best decision you can make is to invest in the services of Fripp Associates."

Focus on the bottom line. Stress the results you will get for them.

Don't offer backup information unless or until you are asked for it. It can interfere with the "big picture."

Be "up." Low energy and monotony will kill any presentation. Show genuine enthusiasm.

Be visual. People remember what they "see" in their imaginations. Paint a vivid picture in story form of how things will be when you have the job.

"…six months from now, when your business has increased 15%, your market share is 5% higher, and your sales teams are in harmony for the first time…".

Have a strong closing. For example, "Your next decision is not whether to hire me, but whether can you afford not to!"

More information on marketing yourself as a speaker, seminar leader or consultant is
https://fripp.com/sales_training.html

If you want help with your marketing why not check out The Odd Couple with Alan Weiss. This is our yearly seminar on marketing and strategy for consultants and speakers in Las Vegas. Check out our copy.

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Prospecting Tips for a Slow Economy
by Patricia Fripp, CSP, CPAE

Frippicisim: It is not your clients’ and prospects’ job to remember you. It is your obligation and responsibility to make sure they don’t forget you.

1. Don’t overlook the obvious. Go through your address book, data base, Christmas card list and confirm everybody you know is familiar with your profession, what your specialty is, and who is the perfect prospect for you to best serve.

2. If you used to work in another industry, update your satisfied clients that you can still serve them in this different capacity.

3. Keep in touch with your present clients more frequently. Not just asking for referrals. The better your relationship with them the more they will want to send you new prospects.

4. One of my friends in the advertising specialty business had a very creative office decor. Anyone who had seen it raved about it. Going up in the elevator of his building of 22 floors I had a conversation with a fellow passenger. I asked, “Do you work in this building or are you visiting?” He mentioned he had worked there for 2 years. I inquired if he had ever heard of my friend Jonathan and his unique and memorable office. He said “No.” My recommendation to my friend and everyone else who works in a large building is to every few months go from floor to floor, office to office, and introduce yourself to your neighbors. You could well quadruple your business close to home.

5. Don’t forget to work on your sales presentation skills!

Why not learn sales presentation skills from Patricia Fripp and Negotiation Skills from David Palmer, PhD on CD and DVD?’
Need more help in sales, presentation skills, marketing, promoting yourself? Patricia Fripp has hundreds of articles for you. Yes, no charge. fripp.com/articleslist.html

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Power Pitching: Get the Personal Edge
by Patricia Fripp, CSP, CPAE

Whenever and whatever you're pitching, dozens of factors will figure in the final decision of your prospects. All else being equal, you have the edge if you can establish a personal connection. Connect emotionally and intellectually, so they like and trust you more than your competitors. How can you get your prospects to like you? Try these tips.

•Focus and be sincere. If you appear nervous or unsure, you may seem devious or incompetent. If your sales presentation does not respond to their concerns and you just grind on with a prepared pitch, they will decide you don't care about them and their problems. Look people right in the eyes and convince them that you stand 100% behind the ideas, products, or services that you want to sell them. Pick up on their concerns, and address them.

•"Divide and conquer." If you're doing a sales presentation, shake hands with everyone as they enter the room. Connect with them so you see them as individuals, and you become more memorable to them too. (People are usually more shy of groups of strangers than in one-on-one contacts.)

•Use technology to enhance your sales presentation, not drown it. PowerPoint can keep you on track, but it can't establish trust.

•Keep it simple and memorable! When your prospects have a debriefing afterwards, you want them to remember what you said more than anything your competitors pitched to them. Break your talking points into snappy sound bites that are easy to write down and remember. Make them interesting and repeatable.

•Steer clear of technical language and jargon. Rehearse your presentation in advance with your spouse or an intelligent 12-year-old across the dinner table. If there's anything they don't understand, it's too complicated.

•Tell great stories. People are trained to resist a sales pitch, but no one can resist a good story. Let's say you're trying to get money to fund your software company. Tell a story about how the prospective investor's life will change when you bring the product to market: "Imagine that a year from now you'll come to work and use this software to do in 5 minutes what now takes you 45 minutes. I don't know what that would do to your life, but in all our test markets or pilot programs, people tell us…" Then add more stories.

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