EP 133 | Time Tracking vs. Value Based Fees with Tim Williams – Part 1
About this Episode
Flat fees vs. hourly fees—we could have this debate forever. While no system is perfect, Tim Williams, a professional marketing expert, believes value based flat fees provide a superior way to price for your expertise.
In this episode we learn:
- a service is always more valuable before it’s delivered
- provide detailed assumptions in your contract
- price in phases
- avoid pricing your services to only cover your overhead
- consider a razor and blades strategy for pricing
You are selling expertise and solutions, not services.
About Tim Williams
Tim Williams is a career marketing professional whose mission is to help professional service firms escape the tyranny of an unfocused business model. As a globally-recognized expert in the areas of business and pricing strategy, Tim is a noted author, international speaker, and presenter for business organizations worldwide. Based on his expertise in positioning and pricing, Tim has been interviewed by newsgathering organizations including The Economist, Wall Street Journal, New York Times, Bloomberg News, The Guardian, Toronto Globe & Mail, Australian Financial Review and numerous business publications ranging from Europe to Asia.
He is the author of two books, writes the popular blog “Propulsion” and serves as a LinkedIn Influencer, where Tim is a regular contributor of articles on business and pricing strategy.
As a consultant to marketing firms, Tim has worked with hundreds of firms ranging from mid- size independents to multinational networks and global holding companies. He began his career on Madison Avenue working for large multinational advertising agencies and later served as president and CEO of several mid-size independent firms. As the leader of Ignition Consulting Group Tim now advises the leaders and managers of professional knowledge firms on the development and execution of positioning and pricing strategies.
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