Consulting Clients Don't Always Pay
Posted by IT Consultant in Money MattersHere's a story about an IT consultant that got himself in a jam and his client wouldn't pay… Read the rest of this entry »
Archive for the “Money Matters” CategoryMany consultants love their work, I know I certainly did. But all consultants are still looking to pay the bills and enjoy their lives beyond their work. In this category I look at the many issues surrounding setting billing rates, finding business, and protecting as much of your earnings from the tax man. Consulting Clients Don't Always PayPosted by IT Consultant in Money MattersHere's a story about an IT consultant that got himself in a jam and his client wouldn't pay… Read the rest of this entry » Determining Project PricingPosted by IT Consultant in Money MattersWhether you are billing by the hour or attempting to maximize profitability by going with a fixed-fee proposal, time is money. Several factors could affect how long it will take to complete an engagement. Read the rest of this entry » Selling ConsultingPosted by IT Consultant in Money MattersIf you are responsible for selling "consulting", it's important to recognize that you can be a vendor of consulting or you can consultatively sell consulting services. That's quite a mouthful. Read the rest of this entry » How Consultants Get Their BusinessPosted by IT Consultant in Money MattersTypically, a consultant gets business by establishing relationships with people who have recognized a need, perceive the value in addressing their need, and are therefore willing to pay a consultant for help. The difficult part is in finding these people. In an ideal world, your consulting business would grow through having a good reputation and receiving referrals. Clients would immediately recognize your capability and invite you to submit a proposal. Read the rest of this entry » Fixed Fee vs. Hourly BillingPosted by IT Consultant in Money MattersExternal consultants have to decide how they're going to bill their clients. There are only two options: fixed fee or hourly. Read the rest of this entry » Deductions for IT ConsultantsPosted by IT Consultant in Money Matters, Working with Recruiters, Working without a RecruiterOne of the advantages of being an independent IT consultant is that you can deduct expenses. This doesn't make purchases free, it just means you don't have to pay income tax on the amount of income equivalent to the expenses. In effect, this means that everything that you buy that is a valid expense is essentially purchased at a 30% (approx.) discount. Read the rest of this entry » Setting Your Consulting RatePosted by IT Consultant in Money MattersFiguring out the rate to charge clients can be tricky. Obviously you want to be paid as much as possible and your clients want to pay as little as possible. In the middle is some rate that you'll both deem as fair. But what's fair? Read the rest of this entry » |