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How to make money as a business consultancy
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[QUOTE="Asad Ali, post: 304074, member: 25424"] [HEADING=2][SIZE=16px]As a business consultant, there are several ways to make money. Here are some common ways:[/SIZE][/HEADING] [LIST=1] [*]Hourly rate: You can charge clients an hourly rate for your consulting services. This is a common way to charge for consulting services, especially if the project is short-term. [*]Project-based fee: For longer-term projects, you can charge clients a project-based fee. This fee is based on the scope of the project, the time required to complete it, and the value you will bring to the client. [*]Retainer fee: You can charge clients a retainer fee to have access to your consulting services on an ongoing basis. This is a common arrangement for clients who need ongoing consulting services. [*]Commission-based fee: You can earn a commission on any sales that your consulting services generate for your clients. This is common in sales and marketing consulting. [*]Equity-based fee: You can also earn a share of the ownership or profits of the business you are consulting for. This is common in startup consulting. [*]Value-based fee: You can charge clients a fee based on the value you create for them. This is a common approach for consultants who specialize in increasing revenue or decreasing costs. [/LIST] It is important to determine your fees based on your level of experience, the type of services you offer, and the market rates for consulting services in your area [/QUOTE]
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