EP 133 | Time Tracking vs. Value Based Fees with Tim Williams – Part 1

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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

Design Intervention

You are selling expertise and solutions, not services.


Take Away

Positioning for Professionals


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.

www.ignitiongroup.com


Recommended Learning:

Kimberley’s Flat Fee Contract | MASTER COURSE

Sign up today for Business of Design™ Conference, January 25 & 26 at Las Vegas Market. Two intensive full days of learning that is immediately applicable to your business.


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Legal Disclosure | This podcast is for educational purposes only and should not be used for any legal decisions. Kimberley Seldon Design Group, Kimberley Seldon Productions Inc., Kimberley Seldon Design and Media, Inc., Business of Design™, or any of its affiliated companies or staff is not responsible for any errors or omissions effecting accuracy in any content, and they will not be held liable for the use or misuse of information, facts, details or any other aspects should there arise any defects, errors, omissions or perhaps inaccuracies. Extensive research has been conducted to put this podcast together for the purpose of educating our industry in order to better serve the public. Care has been taken to acknowledge ownership of copyrighted material. The advice and strategies contained herein may not be suitable for every situation. This work is offered with the understanding that we do not render any legal, accounting or other professional advice. Seek the advice of a lawyer and/or other competent professional person in all matters of law. Further, listeners should be aware that internet websites mentioned may change or disappear between when this was recorded and when it was listened to.

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