In previous columns, I discussed the value of having a network of other consultants with whom to share leads. Ask some of these close colleagues what they are charging. Be clear on what kind of work you wish to do. If you are an expert on esoteric matters who can provide clients significant value in a brief period of time, you will want to charge a higher rate than the guideline above. This is because you will spend more time lining up assignments and less doing billable work.
Minimum commitment Consider establishing a minimum commitment when taking on new clients.
Given the overhead of agreements and other paperwork, I don't take on new clients for less than at least a day of work. I charge a premium for the first day, and then provide a discounted rate for subsequent hours. A client who has decided that he or she wants your services is much more likely to accept your rates. I usually provide a quote as part of a preliminary proposal that clearly spells out deliverables. Sometimes I find that its a good idea to ask clients at an early stage about the budget they have in mind.