You don`t ask anyone to marry you on the first date – and you don`t (normally) offer advice for the first project. Whatever the phase of your business, Consulting Retainer can be the perfect added value for your clients and a fantastic source of predictable work for you. With this article, you can set up the perfect consulting retainer and bring more revenue to your consulting business. The withholding fee for Pay for Judgement depends on the impact of your decisions. If it`s a possible decision that could make millions of dollars of difference, then you should charge a high fee, but by chance, you should always be available. Counseling retainers are often compared to other, less common ways of touting their work. The other two types are equity and performance agreements. Michael Thank you for clarifying the concept of retainer If your consultants are well established, you have more money in your business – without spending long nights in the office. Excellent approach to different types of arrangements, Michael. I can`t wait to have more videos. I just subscribed to your YouTube channel. Thank you for sharing your findings.

While they sound beautiful, pay for Judgement Retainer are hard to sell and wait for over a long period of time. They require a very high level of trust and an understanding of value and risk control. Do you agree that implementing projects in a consulting firm may seem a bit fragile in terms of revenue and profits in most areas? “In a month, your schedule will be full of projects. You know the client you`re working with, what you`re doing for them, and when your next check will be received. Next month, you crawl,” recalls Michael Zipursky of Consulting Success. Fortunately, you can break out of this vicious circle and switch to a new way of managing projects and ongoing tasks – Retainer. The downside for you is that you have to set aside time for Retainer customers. You can`t have too many holds as they can conflict if more than one customer needs you. Another disadvantage for consultants is that it`s the same as working by the hour, it`s just that you`re “on demand”. The retainer was great for customers because it guaranteed them support in a market where there were few resources. It was great for me because the $6,000 per month guarantee for a few hours of phone time or three days of work a month gave me flexible hours to write books, develop additional support courses, and manage development projects with subcontractors. Eileen – Yes, you can structure the guidelines of what is contained in the Rétainer agreement.

I like to keep things simple, so avoid different types of rediqués and mixed every hour……