Simple Tips to Become a Management Consultant

Management consultancy is one of the most lucrative fields of business. People with exceptional analytical skills, creativity and incomparable skills to solve problems can thrive well in this specific field. There are many ways to become a good management consultant.

Some Simple Tips:

Educational Background: People with an undergraduate degree in business administration can easily attain success in this field. Most of the consulting firms hire two types of consultants which include the associates and the business analysts. The business associates are basically the undergraduate candidates and the business analysts are candidates with advanced degrees. Today there are various business schools which offer various courses such as business strategy and marketing, employee relations, financial classes and accounting, statistics and business law.

Advanced Degrees: Apart from the degrees earned in colleges, it is wise to attend advanced business schools to procure higher degrees in business management and enhance the abilities to evaluate a company. To become a good and reputed career consultant, it is essential gain more knowledge in the field.

Work as a Manager For a Few Years: Real world experience is quite essential to gain the required exposure and knowledge. It is essential to implement theory based lessons in the real field and track the progress while working in a firm.

Powerful Resume: Before applying to consultancy firms, it is quite essential to prepare a powerful resume which showcases key skills and expertise. This will increase the opportunity to get interviewed by reputable companies. It is also essential to be reliable, driven and motivated while attending interviews.

Institute of Management Consultants: By joining the institute of management consultants, it is possible to broaden individual abilities and gain networking contacts easily.

Certified Management Consultant: An authentic certificate as an accredited management consultant creates a huge difference as it increases the chances of procuring a lucrative opportunity. Potential employers comprehend the skills and expertise of the consultant with this certificate.

Hone Communication Skills: A good consultant should possess excellent communication skills to express and communicate thoughts and ideas in a clear and concise manner. This will further increase the prospects of becoming an excellent career consultant. There are various communication classes which offer lessons on business etiquette, social relation and so forth.

Computer Knowledge: Today majority of the businesses are conducted through online portals using computers and technology. It is essential to use modern technological devices and computers to communicate effectively with other business prospects. Computer expertise will increase the efficiency of business operations.

Creative Thinking: One of the most important qualities possessed by consultants includes the ability to think creatively.

Leadership Qualities: Management consultants should possess specific set of skills such as decisiveness, confidence and inspiration. It is also essential to possess skills such as intelligence, courage, honesty and competence.

Management consultants must have the ability to work under pressure and meet deadlines. Businesses include large number of projects with different deadlines. It is therefore quite essential to have the ability and expertise to work and thrive under stress to become an invaluable asset to the clients.

The Reluctant Consultant

I have a great idea for an invention. I have done research and there is a big consumer market for it. I would like to bring it to the marketplace.

I have an invention that everyone in my family loves. I know that it can make a lot of money.

I made a prototype by hand and it functions beautifully. I really want to get this product to retail.

I have a patent pending and professional drawings on an invention. I would like to get it licensed.
These are typical snapshot situations with which the inventions service provider is solicited.
If you guide these people, it means that you are a consultant. Perhaps a ‘reluctant’, unpaid consultant;
but a consultant, nonetheless. By trade, you may be a prototyper, an engineer, a patent attorney, a manufacturer, or like me, an inventions marketer and licensing agent.
But you are a consultant as well.
Now that you are a consultant, in addition to whatever regular services you provide, you’ll need to
set up standards by which you are willing to consult. I offer you some possible considerations. 
Create conditions that suit your particular needs. Inventors take note; the more fully you prepare
for the consultation, the more benefit available to you from the consultant.
GOAL: To create the greatest amount of value to the inventor, in the most concise period of time.
EVALUATION & CRITERIA: Pre-qualify your prospective consultees. Establish what the person expects to get out of the consultation. Determine whether the individual is logical and has realistic expectations. Is he/she serious about moving forward through all the steps to bring the invention to fruition? Sign a Non-Disclosure agreement so that you can preview the invention to determine if you are interested in consulting on it; and, moreover, that you can deliver value to the inventor by doing so. 

MATERIALS: What materials must the inventor make available in order for you to service him/her?
Determine if it is a CAD drawing, working prototype, list of features and benefits, patent search results, patent pending or issued, demographic info., market research, costs of molds and production; or whatever it is that you need from the inventor, in order for you to provide the best advice.

CONSULTING BY FACE OR PHONE, FAX & FEDEX: Determine the best method of communication for both of you. It may be a combination of all of these methods.
LENGTH & FREQUENCY OF CONSULTATIONS: Determine the length of time of your initial consultations, (mine are one hour,) and whether you are willing to provide limited or ongoing follow-up sessions; specifying how many, and length of each. Keep in mind how much of your time this takes away from your ‘core’ business service.

FEES: Evaluate the least amount you can afford to charge, based on time spent away from your core business. (When I figure this fee, I throw in a generosity or ‘X’ factor.) Consulting is an opportunity for you to give back to the community. Considering the mistreatment that many inventors suffer from ‘Scam’ companies that take tens of thousands of dollars from them, by making promises on which they do not deliver; you want to provide them with more value than they are paying for.     

DISCLAIMERS: Acknowledge that you are not always right and that the advice you provide is based purely on your personal experience and opinion, and not on hard and fast rules.
AUTHENTICITY: Be real for your client. No consultant is an island. If there is an area where your client would be better served by other experts more experienced in that niche, freely refer the inventor to experts whom you respect. Everyone will benefit.

I became a consultant with no intention of becoming one. However, what I was doing by freely sharing my knowledge and experience with inventors, was consulting. You are a consultant when you realize that this activity is taking X % of your time from your core business, and you declare that you are one.
Now that you are a consultant, delete ‘Reluctant’, and enjoy what consulting provides to both the inventor, who gains instant access to your years of experience, and to yourself, for the gift of contributing to people.

Pharmaceutical Consulting the Smart Way

Expenses surrounding R&D, production, regulatory compliance, marketing, and product distribution continue to increase. The cost of medication and various kinds of specialized health services continues to rise. In addition, the number of blockbuster drugs is dwindling, safety concerns are growing, and greater government intervention looms. All of this means that the value of and the ROI for pharmaceutical consulting services are also increasing.

Staying competitive and profitable is getting tougher for pharmaceutical companies, especially smaller firms, and for health care organizations. John R. Kimberly, Management Professor at Wharton University of Pennsylvania, warns that the “old model is dead, and big pharma is struggling to come to terms with what new model is going to work.” The trick then is figuring out exactly which of the manifold potential solutions will enable companies to remain competitive and thus stay in the market. And added to that is the difficult task of determining exactly which pharmaceutical consulting firm will be the best fit and can provide the best solutions for a particular company.

Pharmaceutical consultancy is a relatively new species of consultancy. While most firms offer a fairly standard range of consulting services, there is some specialization within the field. PAREXEL Consulting, for example, leans toward the management pole, offering the following services: brand management, business development, clinical development, managed markets, medical affairs, sales, and trade and distribution. Maxim Group, on the other hand, has more of an IT slant, with these IT solutions services: IT strategic roadmap, IT utilization/value assessment, software package selection, software package implementation, and system integration.

And then there are those pharmaceutical consulting firms, like Smart Consulting Group, that fall somewhere in the middle, with their own niche areas of specialization owing to specific training and industry experience. Smart Consulting offers a broad range of services in several areas-vaccines, lean manufacturing, quality and compliance, drug/device combination products, FDA regulations, and FTC concerns-with special expertise and interest in quality compliance, quality audits, laboratory strategies, and manufacturing solutions.

Now, many of these same consulting services can be found in many other consulting firms. Two things, though, set Smart Consulting apart from the others: 1) their personnel/team and 2) their ability to view companies and problems from multiple perspectives and thus to discover multiple possible solutions.
Nigel and Denise Smart, founders and managers of Smart Consulting Group, have over 45 years of combined experience in the biotechnology and pharmaceutical industry. They also possess complementary skill sets, which is illustrative of their entire team. Nigel has a chemistry, microbial/fermentation technology, and biochemical engineering background, and Denise a business and law background. Smart Consulting has for its team a network of other seasoned professionals with 118 years of combined industry experience and wide-ranging expertise:

Analytical QC
QA functions
Process development
Project management
Clinical trial management

With the ability to take a comprehensive view of particular pharmaceutical companies and their peculiar problems, viewing them from various angles and multiple perspectives, the pharmaceutical consultants with Smart Consulting are thus able to discover, develop, and propose numerous possible solution options. They analyze and test ideas before defining a solution and make adjustments as necessary in these early stages. Then they create multiple potential solutions and test to determine which one will be the best fit for the problem at hand. But they don’t leave it there. They also build expandable solutions that can evolve and remain valid as the business grows.

Consulting Skills Training: What Skills Do Consultants Need?

Many people become a consultant after working in a certain profession for several years. Professional expertise is necessary to be a good consultant, but it is not the only attribute that consultants need to succeed. Many consultants attend consulting skills training to acquire the range of skills that prepares them for success, and these skills are listed below.

Technical knowledge

Whether you conduct group facilitation, or meet one on one with company decision makers, you need current technical knowledge to address the concerns of clients. If your technical knowledge is up to date, you may still need advice on how to leverage it to serve your clients. Knowledge is the essence of consulting, and learning how to apply your knowledge will help separate you from your competition.

Problem solving techniques

A single technique for various types of problems may be efficient, but it may also fail to address the finer points of the problems. Rather than pursuing a quick solution, the focus should be on finding the solution that works best, and then finding a way to implement it as efficiently as possible. Learning the best techniques for solving different types of problems is the best solution.

Communication techniques

Group facilitation requires a variety of communication techniques, because a consultant rarely interacts with just one member of the team. Consulting skills training focuses on developing proactive communication techniques. These techniques help consultants understand the team’s needs as quickly as possible. The same communication techniques also help the team come to its own conclusions, because the consultant continually re-summarizes the dialogue and asks pivotal questions.

Logical reasoning

When team members are deadlocked on an issue, their reasoning may be clouded by the desire to have their views accepted. Instead of working toward an agreement, they become entrenched in their position, as the discussion grows vitriolic. In this situation, the consultant must be the voice of reason that brings the two sides together; by helping them reach a conclusion for how to proceed. Improving their logical reasoning ability helps consultants guide teams toward logical solutions.


Consultants do not have a classic leader identity, but leadership is an essential part of their profession. A person who impartially proposes solutions is not using his or her knowledge to guide the client to a solution. After all, the client probably already knows about many of the potential solutions; it needs help choosing the right one. That being said, a fair amount of persuasion may be necessary to help the client accept the right solution. This is where leadership knowledge is truly helpful.


Being an effective consultant requires more than professional expertise. This person also needs to possess technical knowledge, problem solving techniques, communication techniques, logical reasoning, and leadership abilities. To acquire these things, many professionals attend consulting skills training. For information about the skills that are needed for group facilitation and other types of consulting opportunities, contact a provider of facilitation courses today.

So, you want Window Curtains for Your Home?

Numerous years’ prior valances have turned into a standout amongst the most mainstream window enrichments together with shades. However in the advancement of new window treatments, they were supplanted by numerous different sorts of window embellishing spreads like draperies, shades, and valance and window blinds. The coming of valances window treatments came into picture and valances again recovered its pattern in home improvement. Nowadays you can discover such a large number of sorts of beautifully planned valances. They come in diverse sorts, hues, and outlines. They are immaculate as window stylistic themes and spreads and they can liven up any sort of window to life. You can make a formal or easygoing look of a window through valances and the decision are various that you can simply in a split second discover something that you would like in the business that will suit your taste. There are numerous eminent thoughts for window treatments utilizing valances. You can be innovative in making the look of your window right away change with polish and in style. The scarf valance is mainstream for its sensational look. It is profoundly convertible into a drapery board that you can make with a sentimental look or sweet impact. Scarf valances are typically produced using lightweight fabrics which you can without much of a stretch make some inventive outline of creases, wrinkles, and folds. They frequently create an enjoyable feeling into the room and they are profoundly corresponding to use with other window treatments like blinds and shades. Valances window curtains can likewise turn into a standalone window stylistic theme particularly in little windows and those windows arranged where less light goes through. Most exquisitely finished valances are of the Ascot style which is V-formed valances that are normally found in lodgings and business foundations. Its magnificence is stressed with the expansion of decorations and bands for a more modern look. It can likewise be shown alongside swag valances which is another sort of valances window treatments of Greek and Roman sources.
The swag valance is like scarf valances yet it delivers a more formal look. It is generally made up from sheer fabric that can be collapsed in snappy outline and hung on bars as the fabric hangs freely to upgrade the window shades. They will look rich in many rooms and lounges. Your decision of valance medications will rely on your taste in the sort of impact that you need to deliver whether emotional, easygoing and chic, formal, or exquisite. It is anything but difficult to upgrade the look of any room by rearranging out your window curtains in your home. Another valance right away brings another point of convergence into the room, changing the inclination and hues sees instantly. There are three simple strides to fulfilling this: settle on the hues, pick the style, and after that make a go at shopping. Changing the valances is so natural and speedy to do; it is easy to have another look each season. In only a couple of years with a minor speculation there would be a spring, fall and Christmas look. These eminent versatile devices can acquire out distinctive hues any room. In the spring shades of green, pink, or yellow may be utilized to light up and help the inclination. Resource box Valances window curtains can likewise turn into a standalone window stylistic theme particularly in little windows and those windows arranged where less light goes through. The swag valance is like scarf valances yet it delivers a more formal look. It is generally made up from sheer fabric that can be collapsed in snappy outline and hung on bars as the fabric hangs freely to upgrade the window shades

Curtains and Drapes for Additional Embellishment

In the event that you are searching for bay window treatments that will support the magnificence and appeal of your home, you could be attempting to discover what you require. Narrows windows are more suited to a home plan than different styles; on the other hand, if done well and suited with treatments that complement the topic, little can contrast and the splendid look they offer. Narrow windows are more mind boggling than other bay window treatments as a result of their three-dimensional configuration. The three portions of the configuration bow out, which can be hard to join contingent upon the structure of your home. Moreover, this can make discovering window medicines a bother too. It can be elusive the right drapery poles and wrap headings, and you may need to purchase three distinct arrangements of shafts and poles to enliven each of the three windows.
Be that as it may, discovering inlet window treatment does not need to be more inconvenience than they’re worth. A modest approach to enrich your windows is to utilize straightforward tie styles or sheer shades to control the light going into the room. The advantage of having inlet windows is that they are now lovely in their configuration, so regardless of the fact that you might want to utilize heavier curtains, utilizing basic, more moderate plans will do marvels to highlight the windows.

Excessively unpredictable or adapted an outline could even make your windows appear to be tyrannical. Including curtains and drapes can expand the excellence of the windows, as well as the reasonableness. These narrows window treatment won’t just make your home look more pleasant; however they will shield your floors and furniture from over-presentation to daylight, which can bring about a large group of issues. These treatments will likewise build your level of protection and your home’s protection.

Bay window treatments arrive in many styles and materials, so you can explore different avenues regarding various choices. For instance, wood window covers are steady and enduring; in spite of the fact that, they can be costly. Fake wood is frequently generally as brightening, and weighs less, yet it is much less expensive. Another incredible alternative is to utilize recolored glass on your windows. This will add shading to the approaching light furthermore inspire your visitors with the slick and lovely outlines.

Be that as it may, recolored glass is on the pricey side, so if this is not inside of your financial plan, you can pick a more cheap choice. An astute tradeoff is to hang intelligent rings in the middle window. Tolls likewise look extraordinary when hung above plants. As indicated by your inclination, you can place blooms or plants cry your inlet windows or introduce an edge in which you can plant blossoms. This may even dispense with the requirement for costly window hangings.

Eventually, you have a considerable measure of choices in terms of brightening your windows. Be inventive and investigate the numerous potential outcomes. Despite the fact that spending a considerable measure of cash for really, instant medications may appear like the main way, these windows are as of now lovely and exquisite and needn’t bother with lavish additional items. Less expensive, more straightforward window treatments are frequently everything you need to change your windows from lovely to stunning.

Earn Income From Home- Is Earning Income From Home Possible?

Economic freedom is the capability to earn money without having to perform for life’s fundamental needs. For individuals who have economic freedom, their revenue largely outweighs their costs. Most of the world’s population is living paycheck to paycheck, and also much more people are operating at a job because they have to and not because they select to. But with all the correct sources and understanding, working from home is the best option to bring steady and profitable earnings for yourself , savor a comfy life, be able to do what you need, and have the ability to take care of your loved ones.
Earn Income From Home- More Money Equals A Better Lifestyle

A high-quality life-style is guaranteed with wealth and achievement. Folks all over the world are pursuing good results and wealth because of this. The straightforward definition for wealth is getting plenty of fortune. So you’ll not have to be concerned about something that’s related to cash. With the right amount of earnings, the best healthcare and education is obtainable for you and your loved ones. To place it merely, you are going to be extremely content with your monetary situation.

Achievement and wealth will make you a lot more confident. You’ll have a victorious feeling following the respect you’ll receive from society for your accomplishments. The recognition that you will receive from individuals will develop an aura of self-assurance about you, which will reflect in your life.

Earn Income From Home-You Can Change Lives

Lastly, among the positive aspects that include being wealthy may be the reality that you can change the world. The planet is filled with individuals who are in want of assist, and you can affect their lives. There is a high amount of honor and happiness, which will benefit you since you’ve lifted a community, hospital, college, or any charity around the globe.

Earn Income From Home- Is It Possible To Earn Income From Home?

Any person can attain economic freedom from their house. Nonetheless, the only difference among achievement and failure is the proper info and tools. People that are thinking about working from home must realize how you can leverage the power from the World wide web to create cash and increase revenue. Fortunately, the abilities required to succeed can be taught by people who have been within the field . Organizations of specialists give free reports, materials, and telephone consultations for those seeking to be the creme of the crop. Naturally, you will find resources all over the web, but the most important factor is for you to understand the best way to start a successful business from home so you are able to have your own lifetime experience of wealth and success.

Custom Window Treatments Online

For those needing to redesign their home, there are window coverings accessible to live up to their desires. Numerous legitimate companies have shades and custom window treatments online to help you accomplish what you need. A few companies highlight their items on a site; they have an online store for your benefit. When purchasing certain window ornaments on the web, verify you are mindful about transportation time, to maintain a strategic distance from future cerebral pains. It may take up to 7 weeks to get your buy. The companies that are prompt were known in the industry for quite some time now.
Fortunately, a great many styles are accessible. As you may oblige particular estimations somebody will have the capacity to compassionate help you. Most understood originators prescribe getting whatever number custom window treatments online as would be prudent to be arranged later on. Great companies offer treatment accumulations highlighting a slick mixed bag of covering and window equipment for every configuration. Driving producers are always creating window wraps. Remember curtains and window covers can without a doubt be craftsmanship in your place. Originators profoundly prescribe contrasting shops for the best window draperies costs. You can simply discover freedom things to spare cash. Before acquiring the draperies look at their quality, don’t hurry into any useless things. Take as much time as necessary and settle on a savvy decision.

Scopes of window coverings are exhibited in a few classes so you can without much of a stretch choose the best ones. You can attempt new custom window medications and stylistic theme tips from diverse beautifying specialists. Figuring out how to brighten is certainly invaluable. Window blinds are accessible in numerous sizes and shapes. You can discover a few readymade to standard sizes. On the off chance that you are confounded about establishment, don’t stress help will be accessible. Uplifting news is, there are numerous extensive locales with a lot of articles and instructional exercises. A ton of viewpoints on window blinds are considered. It is much prescribed to scan lists and accumulate however much data as could be expected. There are numerous surveys on window blinds. They are exceptionally valuable in any house or even office. They find themselves able to keep the light out and they give shade as well as make a remarkable climate.

Fashioned iron drape bars are the right bars for hanging your window ornaments. These are alluring, satisfying to the eye, unbending, and intense, substantial obligation furthermore function admirably on enhancing the style component of the house. They give a touch of feel and imperial look to your home. The purpose behind these bars to be viewed as the acclaimed choice is talked about underneath. Created iron bars for drapes come in numerous themes and chic. These come in a few striking outlines like plants, creatures, and stars and give excellence to your wrap equipment and every single other sort of home types of gear. The fashioned iron window ornament bars can be utilized with dowagers having width size of 28″ to 130″ inches and with tiny bit of inventiveness, you can even amplify them past that size too. Indeed, even the fashioned iron window ornament bars will begin to twist, in the event that it needs to keep running along 130 inches.

Custom Window Treatments and Ideas

The best window treatment ideas are those which empower the purchaser to pick the best conceivable materials and styles for getting the ideal search for the window. Out of the numerous famous window treatment ideas, you can choose the one you need to go for relying on the sort of window that needs taking a shot at. If in case that the window is put in the room where sufficient measure of light is obliged, then light hued shades are suitable. The material of the draperies which would be most attractive in such a case would be cotton, cloth, polyester and net. These styles of blind fabrics permit light to go through without bargaining with the protection. These sorts of draperies utilization up light hues like white and cream. Custom window treatments like these are most appropriate for study rooms and kitchens where the insides should be splendid.
Aside from the light hued draperies, you can likewise put light hued shades and blinds. The blinds can be put in a vertical, even or moving design. The material of the blinds likewise differs relying upon the utilization. For a contemporary look and low spending plan arrangements, one of the best window treatment thoughts in blinds are the PVC blinds. These are substantial, solid and simple to keep up. These come in numerous hues and their braces can be set on a level plane or vertically relying on your inclination. The wooden blinds have a decent visual speak to them. These are most appropriate for rooms and houses with wooden completion. The wooden blinds are useful for unreasonably splendid rooms where the insides of the rooms oblige obscuring. Roman blinds are additionally very famous. This class of window covers are anything but difficult to handle can likewise be made at home utilizing either new or old drapery fabrics.

Other custom window treatments for excessively brilliant rooms are drapes with substantial fabrics and dull hues. Such drapes combined with the valances finish the entire look of the window medicines. Substantial screens can likewise upgrade the look of the windows radically. The different screen styles suitable for the intention are raised board or provincial style. Moving blinds are accessible in different printing outlines, semi-light sifting and dark through sort and these likewise give another look to the windows. The moving screens can be set both inside and outside the house and can be brightening because of the utilization of diverse hues or materials, for example, bamboo.

Shades are a typical decision for exceedingly lit rooms. The positive point on account of shades is that the window treatment thoughts which make utilization of overhangs permit breeze to come inside while keeping the sun out. Each room requires distinctive window covers. The parlor or the parlor windows must be both beautiful and animating. Aside from the brightening shades and valances, your windows can experience a complete makeover by including a gigantic luxurious glass or a precious stone rack to the window. This would supplant the basic and boring look with impassableness. The window treatment ideas and styles like the overhangs, sound, casement, sliders, grille boards and recolored glass can be utilized for redesigning your windows.

How to Calculate the Right Consultancy Fees

In my business I speak to a lot of consultants – some new and some that have been around more than a few years. One of the questions we get asked a lot though is how much should my consultancy fees be and how should I charge? There are a number of ways to look at this and here are a few pointers, ideally you need to understand:

· Your Billable Minimum
· The Type Of Consultancy Engagement
· The 5 Different Methods For Calculating Fees


Step 1. What are your costs?

Your consultancy fees have to cover your operating costs (in this instance I’m talking about the general business expenses excluding your salary) plus an income for you. All Consultancy businesses should know how much and what types of costs are likely to be incurred within a year. For a consultant, office and non expense related travel costs are usually the highest and can easily be 10-30% of income.

Step 2. What revenue do you need to generate?

This cost together with your earning expectations make up your forecast revenue. Say for example this is £120,000, £20,000 costs and £100,000 income.

Step 3. How much time do you have spare after admin?

It may be that you are spending 16 hours a week on non-billable or administrative work. This will give you 3-4 days per week to earn depending on how many hours you work. This translates to 144 to 192 billable days per annum (assuming 48 weeks worked a year). If we assume 192 days this means that on average you need to earn £625 per day to hit your target. If you only work 144 days then this rises to £833 per day on average to hit your revenue and earning target. Having an understanding of this figure will help you determine what fee structure you need. In this example you need to earn a minimum of £625 a day.


Peter Block has one of the best definitions of the three different types of consultancy engagements (see below). What we have found though is that the different types of engagements often drive different types of consultancy fees.

The “Expert” Consultant

· The Consultant is more autonomous and control sits firmly with the consultant. In effect the client has handed over control of the project to the consultant.

· There is a problem and the consultant provides the solution. My suggestion is that payment here should be on a fixed fee plus performance based basis however often this defaults back to day rate due to competition. The more specialised the area and the higher the value added, the more you can charge.

· A good example of an expert consultant is a Specialised Trainer or Specialist IT Consultant.

The “Pair of Hands” Consultant

· Where control sits firmly with the client. The client understands what needs to be done and wants the consultant (or expert) to do it.

· Consultancy Fees here are almost always day rate or even charged per hour but can include performance bonuses. These consultants often supplement the client’s staffing requirements as required.

· Many generic IT Consultants and Interim Management Roles (where there is more competition) sit in this bracket.

The “Collaborative” Consultant

· Where there is an interdependent relationship and control of the project is shared. Management works closely with the consultant.

· Because the success of the project is deeply linked to the client’s ability to contribute and influence the project, risks and benefits should also be shared. This means that a lower day rate may be more appropriate with higher performance based element to the consultancy fees.


There are 5 different methods for calculating Consultancy Fees.

1. Time based
2. Fixed fee & Success based
3. Contingency or Performance based
4. Demand based
5. Mix of the above

1. Time based

· This puts the risk squarely on the client, great for the consultant not so great for the client, in fact the worse you do the more you get paid!

· Most suitable for a “Pair of Hands” consultancy projects

2.Fixed Fees & Success Based

· Fixed fees are generally used where the value added is high but equally the risk to both parties may be high

· A fixed fee will often be negotiated as part of a tender

· Success based fixed fee – as above but is only paid out if agreed metrics are met, high risk for the consultant and so needs a higher fee to compensate for this.

3. Contingency or Performance Based

· Two decades ago it was mainly tariff analysts that used these types of fees. After some years of certain consultants not meeting targets, more and more often fees are expected to be charged in direct proportion to the benefits achieved.

4. Demand Based

· Demand based fees are the easiest to calculate – they are either based on a multiplier of what it would cost the client to pay a salary (anywhere from 150-300%).

· Or they are based on what the competition are charging.

5.A Mix Of All Of The Above

· The reality is a mix of any two of the above approaches will often work well to balance the risk to both the client and you the consultant.

Remember businesses and people often don’t buy on price alone, low fees give the impression of a junior consultant, if a potential client says that your fees are too high what they are really saying is:

· I don’t see the benefits
· I don’t see the value
· The risk is too high

Address this and you will go a long way to improving both your fees and your profitability as a consultant.