A good thread about consulting. I might have some additional thoughts:https://twitter.com/tqbf/status/936435854511403008 …
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Commitments of availability: some engagements are periodic in nature. A client might want to lock up availability for 9 months from now. If your plan-ahead window is usually 3 months, that also costs money (and/or a retainer, and/or a deposit).
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At a multi-member firm, clients purchase outcomes. If they also get to name their consultants, cool, that’s probably extra. (The firm might choose to distribute some as a bonus. Or might not.)
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The three most important things to getting out of the feast-or-famine cycle are all about recurring revenue. You turn one-off engagements into: a) Repeat work, ideally committed work b) Referrals c) Retainers
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(What’s the difference between repeat work and a retainer? The retainer is paying for the option value of perhaps having work for you. It’s on a use-it-or-lose-it basis and costs a slight discount to scheduling you.)
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The most common thing technologists will sell on a retainer basis is support or maintenance for shipped applications, which is otherwise the client’s responsibility after the acceptance period.
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“What about if there is a bug?” All software has bugs. Everyone buying and selling software knows this. That’s why there are acceptance criteria in your contract which specify who is in charge of bugs at X severity after Y time.
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End of conversation
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I should that more. I tend to be really empathic when some people have real deadlines and try to accomodate them for free and end up working early mornings or evenings…like today. Need to think on how to properly articulate that to be able to sell it nicely.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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