Name Your Price

Welcome back to The 2x2 - the ultimate newsletter for independent consultants! This week, we’re showing you the best way to set up your rate.

Get ready for a double dose of awesomeness in this week’s email:

  1. Know Your Worth

    Money makes anyone excited and that’s a fact. As independent consultants, we all want compensation that makes us go “hell yeah!” every month. Not sure how to set a price for your work? Our rate calculator can help you out.

  2. Revisit My 10-Minute Conversation with Amelia Waters

    Thinking of working for a startup? It might be challenging, but you might just find your happy sweet spot there. Watch my interview with Amelia Waters to see what the experience has been like for her. Find the replay below.

But before we go there…

Are you curious about the future of fractional leadership roles?

Join us for an engaging discussion where we dive into a compelling hypothesis on the trends shaping the fractional industry on July 25 (Thurs) at noon. 

Here’s what you can expect in our first consultant roundtable:

  • Interactive Discussion: Hear from your fellow industry leaders specializing in fractional leadership.

  • Networking Opportunities: Connect with like-minded professionals and expand your network in a collaborative environment. 

  • Shape Our Research: Give inputs and insights to help us develop a study about the current state of fractionalized work.

Don’t miss out on this opportunity to gain valuable insights and contribute to the discussion on the future of fractionalized work. If you want to participate in this discussion or know someone who would be interested, please contact Denise Longoria’s email at [email protected].

And while you’re at it, go ahead and block your calendar (almost always) for the third Thursday of every month so you don’t miss a thing!

You can also R.S.V.P. here.

1. Know Your Worth

Your value is your career currency.

As an independent consultant, it can be difficult to put a price on your work. Aside from your base salary, you also need to consider the benefits you need to pay for yourself and the overhead costs of running your own business.

If you have a new engagement role, then you should have compensation that makes you go “hell yeah!”

Benchmarking is also crucial in consulting since it ensures that your rates are fair and competitive. Before you set a rate and position yourself in the market, make sure to check the industry standards or talk to your peers. 

Use our rate calculator here to determine a fair rate for your time and build a quote for your potential clients.

2. Revisit My 10-Minute Conversation with Amelia Waters

If you’re skeptical about working in startups, then that makes two of us. But Amelia Waters’ — managing chaos and getting everyone moving in one direction is her superpower. 

That’s why she worked with startup Magic Leap after 10 years working on massive transformative projects with Kaplan. Now she’s back in the world of enterprise, helping our Keenan Reid clients. I call her ‘Mary Poppins’ - she shows up and organizes the situation, in the most delightful way.

Here are some of my favorite takeaways from that part of our conversation:

  • You have to credit the power of networks. Someone you know might bring you to new opportunities you enjoy and are great at.

  • It’s okay to be concerned about joining startups for a number of reasons, but you should find something interesting enough that it entices you to join and stay.

  • It all depends on what gives you the dopamine high. For Amelia, managing operational chaos is where the thrill is.

Watch our conversation here where we talk about her career journey (and more):

Remember, the path to success is paved with continuous learning and embracing fresh perspectives.

Let's stay connected, share ideas, and elevate your consulting business.

Stay curious, friends.

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