Weekly Rates

If you want to price off of value, and the project’s scope is loosely defined or in flux, weekly billing is your best friend. You’re able to obfuscate the details and get your clients to focus only on one thing: the value you’re delivering to their business. All of the highest rate consultants I know — those with an effective rate of $500-$1000 an hour — bill by the week.

Pros:

• The focus is on the deliverables, not what it took to get there.
• You’re still able to shield yourself from sudden changes in scope. You’re still billing for your time, but at a larger increment.
• Did I mention that the focus is continuously on the product, and not the blows of the hammer required to make that product? This attitude shift can seriously affect what you’re able to charge your clients.

Cons:

• Wait until Thanksgiving and Black Friday come around and society dictates you work a 3 day workweek. Your client will know this too, and insist on either a discount for the week or roll over two days to next week. First off: You probably shouldn’t be working 40 hours a week. You need to be building up relationships with future clients and doing other administrative work. You can skip those activities during short weeks, and focus on creating a consistent amount of value delivery each week.