Here’s a simple formula for taking being successful at something you’ve never done before: 1. Make sure it’s worth doing. Are the rewards justifiable? For example, if you want to provide a new service to customers, is there a sizable market for that service? Will it be worth it in the long run to invest in a new direction for…
Month: March 2015
There isn’t a bigger boat
Just after I finished sharing what it’s like to intentionally buy based on value, I thought to myself what a silly thought. We all intuitively buy based on value. But then I realized that’s not entirely true. We buy based on the perception of value. And our perception of value can be arbitrarily manipulated by ourselves and others. What made…
Buying on Purpose
A few years ago I was moving from Chicago to Seattle. I hired a company to move me out of my apartment in Chicago and another to move me in, in Seattle. The company in Chicago charged an hourly rate. At the time, mired in the concept of the billable hour, I couldn’t help but think about time while they…
Making it possible to try the little things
By quantifying and qualifying value upfront, I can align my success with my customer’s success. We’re both accountable for the same outcome. By fixing a price upfront, based on that value, we put money behind us and we plow forward with a laser like focus on the desired outcome. One of the side effects of this model, or perhaps the…
Why high billable rates don’t work
When it comes to billing by the hour, I find most people defend their rates in terms of skill as it translates to efficiency. Certainly in terms of efficiency there are distinctions individuals can make in terms of their hourly rate. Distinctions that may make the difference between $50 per hour and $150 per hour. It is possible that some…