To keep the process straightforward and communication clear, select a pricing structure for consulting fees before beginning a project or ongoing relationship with your client. Here are some of the structures you might consider for your consulting business:
Flat Rate/Project-based: Agree on a set consulting fee for a specific project scope with your client before work begins. Usually billed in ahead of beginning work.
Hourly/Time-based: Bill your client based on the number of hours worked in a given period. Communicate your hourly rate in advance.
Combination: Establish an agreed upon blend of a fixed rate and hourly billing with your client.
Performance-based: Bill your client based on results rather than work.