Stack Up Your Costs

PERSPECTIVES

July 9, 2007

Consultants, speakers and professionals often spend untold hours on work that is necessary yet not directly billable. Most clients are unaware of the required groundwork. Such preparation time is intangible and difficult for clients to appreciate in terms of dollars.

Periodically let your clients know (in person, by phone, or in writing) the tasks you have done to insure their project’s success.

At ARMSTRONG and Associates (http://www.armstrongandassociates.org/) we add a detailed list of work completed to the bottom of our invoices with the wording: “Our professionals services on this project include: …” This list serves as an acknowledgement of his work and provides an additional perceived value to the client.

Some examples include the following:

ü      Research preparation

ü      Telephone and conference calls

ü      Travel time

ü      Design work

ü      Routine reports

ü      Surveys, interviews and questionnaires

ü      Organization of files and records

ü      Reading material

ü      Material development

ü      Review of company records

ü      Internal strategy meetings

Investigations regarding similar or competitive situation

Until next time.

L. Darryl Armstrong

Armstrong and Associates

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