I offer the following pricing methods:
- Value Pricing. This method involves setting prices consistent with the value created, including the outcome achieved, by the service provided. The value received from services rendered is ultimately determined by the client. As such, client input and feedback are essential requirements of this process.
- Fixed-Price Agreements. This pricing method involves documenting the terms of the engagement prior to beginning work. In general, the agreement sets forth the contract term, price, payment terms, termination terms (always at will), services to be provided, service guarantee, and procedures required for unanticipated services not covered by the agreement.
- Hourly Billing Rate. While not our preferred method for determining price, I recognize this approach as a viable technique for pricing professional services for a number of reasons. Whether due to client preference or situational appropriateness, I offer the option to have services priced based on hourly billing rates and the amount of time required to complete their engagement.