Here's how you can price and charge your VR consulting services appropriately.

Pricing and charging for VR consulting services involve these steps: 1. **Market Research**: Analyze industry standards and competitor pricing. 2. **Experience and Expertise**: Charge based on expertise, experience, and service complexity. 3. **Project Scope**: Assess scope, duration, and specific requirements. 4. **Hourly vs. Fixed Rates**: Choose between hourly rates for flexibility or fixed fees for clarity. 5. **Value-Based Pricing**: Price based on the value provided to the client. 6. **Additional Costs**: Include costs for software, hardware, and travel. 7. **Contracts**: Outline payment terms, milestones, and deliverables clearly to ensure transparency.

Our last 4 years have taught us that a lot of educators are not ready for the technology and need support. Considering this, we have had to adjust many times and build consistent models and flow for this consultation process. We were offering a lot for free, but it felt like a necessity and now we understand better how to structure these deals. Additionally, many organizations that sign up for virtual reality need additional support. We have had to adjust this at VEDX to be consistent support offering with our consultation. I have noticed there are a lot of individual consultants out there, so we have now adopted a unique process to bring them into our company in a win-win situation.

My pricing model is based on a percentage of the income I help generate for my clients. I work on a contingency basis because I firmly believe that if my advice and efforts do not result in financial gains for my clients, it wouldn't be fair to charge them. This approach ensures that my interests align with my clients – we both succeed together. If my strategies and support lead to increased income, I receive a portion of that success. Otherwise, my clients are not burdened with fees, reflecting my commitment to delivering real, measurable value.

evolve with Determine a suitable daily rate based on your needs, and adjust for weekly and monthly rates. As the duration of the project increases, the daily rate should decrease. Offer lower rates to smaller companies that provide valuable references and higher rates to larger corporations. Experiment with different rates and project durations to find your optimal pricing. When I started consulting, I offered a significantly discounted rate, such as 600€ for two weeks of work. Now, with more experience, I command higher rates, like 600€ for just two hours. Your rates will evolve with your expertise and reputation.

When I do a consultancy job, like advising a single client, I charge less than for more complex roles such as project management or coordinating between multiple stakeholders. My rates also reflect my extensive industry contacts. Being able to immediately connect clients with the right companies is a valuable talent that adds to my worth. This network allows me to provide solutions efficiently and effectively, making my services more valuable. As my connections and expertise grow, my rates adjust to reflect the added value I bring to each project.

Every virtual reality consulting quote is unique. It is necessary to deeply understand the client's problem to give them a personalized solution that solves their problem. Therefore the consulting quote must also be personalized. It is also good practice to study the client and see if long-term strategic alliances can be made that allow both parties to benefit from working together. This will give you a positive differential in your proposal.

In the case of complex projects, that imply several person and an AGILE management, you might want to consider a new for of model : AGILE contracts and AGILE invoicing model. AGILE contracts are agreements tailored for AGILE development, emphasizing flexibility, collaboration, and iterative progress. The Agile invoicing model aligns with Agile principles, billing based on iterative progress and value delivered rather than fixed milestones. Invoices reflect completed sprints or deliverables, fostering transparency and flexibility. This approach adapts to project changes, ensuring clients pay for actual work done.

My final piece of advice, based on recent experiences with industry colleagues who faced tough negotiations, is to document everything. After each call with your client or stakeholders, send a follow-up email summarizing the discussion. This helps resolve any misunderstandings immediately. If an additional task requires a rate increase, make sure to document it in writing. This practice ensures clarity and avoids disputes, protecting both you and your client. Clear communication and thorough documentation are essential for smooth project management and successful negotiations.