How do you charge premium fees and attract high-value clients?

A key point is to talk to the end customers of your potential customers. Find out what they like and dislike about the products/services your client manufactures/provides. And we should also test them, subject them to extreme and day-to-day environments. Imagine how we can help them perform better in these circumstances. There is technology for almost everything, we just need to integrate the pieces (or develop the gaps).

? The key to understanding the needs of your Target Audience is to understand their mindset. Their mindset is what is going to help you add relatability to your product, offerings and communication.

I would focus more on 1, 5, and 6 personally. As a live case, one of my well-wishers was advising me to make my services a 'commodity', and I politely put forth my views: 1. I am happy to offer my services FREE to someone who deserves (which means is not able to pay my Fee). 2. If I believe that the client has the capability, then I would charge my full Fee, and premium again if I deserve it. Based on these principles, I have few cases when I have walked away or the client said 'you were better, but we went with low price'. So, Identifying right client is important.

Three key points are: 1)Try not to go on at length explaining your technology/processes, 2)Make it clear that your technology/methodology/services solves the challenges your client is currently facing (and will face in the near future), and 3)Include a rough ROI calculation, separating CAPEX and OPEX. At the same time emphasise how your solution will add VALUE to your client, beyond the tangible.

? A great way to start a value proposition is to show a before & after case study. This immediately grabs their attention and gets them more interested in your offerings

? A great way to start a value proposition is to show a before & after case study. This immediately grabs their attention and gets them more interested in your offerings

In my humble opinion, whatever forms of pricing/collection you offer, you should not offer "promotions" or substantial or recurring discounts, as if we were in a Dutch auction. If we ourselves do not value our work, our clients and others will not value it for us.

? This one takes courage an a lot of practice. ? A personal hack - I write down my closing offer on a piece of paper and stick it to my computer screen before the meeting. ? It serves as a great motivator and a reminder to close the deal at the right value.

Up to this point it is important not to have disclosed all the information (in detail) to the client about how you will develop your proposal. The industry is littered with stories of clients who took an "expensive" proposal and gave it to someone else to do it for less. They even ended up solving it with their own resources... So: say the miracle, but not the saint ....

Ask yourself, "How can I create value?" When you're creating value, people want to have you around. This is a simple mindset shift that will make a huge difference in your consulting practice.

Simple - I you want to charge premium, you must deliver better and more than the rest! I would recommend consultants to follow the principles of 'Delivering Excellence'. Delivering 100% is not enough (all your competitors are also attempting to do that) - go that extra mile, deliver 101%, delight me (I am your customer), and deliver more than needs & expectations so that I say 'Wow!' and you (the consultant) say 'services of your choice-Fee of my choice!).

What was good enough yesterday, is not good today. Continual Improvement should not be mentioned in the consultant's report only, the consultant must live by this principle. While I am a trainer and consultant, I have had over 100 training interventions (5 minutes to 5 hours) in last 3 years. Sometimes other participants have commented 'Daman, why are you here?!' - the answer is simple 'learning and sharing is forever, I am a life-long learner'. Once you have invested in your professional development, start blowing your own trumpet. Write, comment, tell, share, speak, run surveys, and publish reports to showcase your new-learnt capabilities. All this will help you (the consultant) to charge premium Fee!