Consultancy fees - where do I start?

Hello all,

I've been approached by a company wanting me to offer them advice on a product they are currently developing. They have basically asked me what hourly rate I want... and with little experience in this area I'm not sure where to start. I either ask for what my current employer pays me or I ask for my private rates - which are obviously more. The contract will only be for a couple of days and they have already agreed to pay travel etc.
Can any one offer me any advice on this and any other points I should be aware of when entering into this kind of arrangement/contract.

Thanks very much

Quote:

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Originally Posted by wriggly_b

Hello all,

I've been approached by a company wanting me to offer them advice on a product they are currently developing. They have basically asked me what hourly rate I want... and with little experience in this area I'm not sure where to start. I either ask for what my current employer pays me or I ask for my private rates - which are obviously more. The contract will only be for a couple of days and they have already agreed to pay travel etc.
Can any one offer me any advice on this and any other points I should be aware of when entering into this kind of arrangement/contract.

Thanks very much

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Hi there, you need to charge BIG TIME!

Get the company to send you through a brief of their venture, their product and exactly what they would like you to provide advice and expertise on.

Then send them back your quote for the job based on this, the potential impact of your expertise on the outcome and success of the product venture with a watertight disclaimer that covers your arse against any future repercussions.

Remember that they are seeking your expert advice and as such you should honour that by charging BIG!

A daily rate of $1500 - $2000 AUD would be a good start but if it was me and someone wanted me for 2 days I would probably charge $5K AUD at the minimum.

Now someone with a bigger view of themselves then me would charge more than this.

So the question is...what do you think you are worth?

Go get em

perhaps it is important to have it laid out whether they are going to use your name when they promote their product.
If something as serious as a pr program using you is planned, you might need an agent.
Crystal

Hello,

Thanks for your thoughts... I've submitted my request/proposal of payment, so will wait and see what they come back with.... I'll let you know!

BW