It Consultants Don T Give Away The Farm

IT Consultants: Don't Give Away the Farm

Summary: IT consultants need to stop giving away their services. Charge appropriate, competitive rates to become successful IT consultants.

IT consultants, IT-consultants, IT consultant, IT-consultant

Article Body: A common mistake many IT consultants make that may prevent them from being able to go full-time is that they basically give away their services. As IT consultants, it is your responsibility to ensure you charge market rate.

IT Consultants: Prove you are Professionals

To be perceived as a professional, you need to charge similar hourly billing rates to those you aspire to compete with on a full-time basis. If you charge way below market billing rates, youll never have enough steady consulting revenue to go full time. Its really hard to raise your billing rates substantially when contracts come up for renewal.

The full time IT consultants you compete with have already figured out the hourly billing rates they need to cover their overhead. Ensure that, at this stage of the game, you arent overlooking this aspect.

Successful IT consultants know all about the costs including taxes, training expenses, insurance, marketing and promotion, research and administration.

IT Consultants: Dont Sell Yourself Short

If youre thinking you can go out there and be the Crazy Eddie of IT consultants in your marketing, or go out there for $, $, $ an hour and ultimately, youre going to make it up on volume - youre wrong. There are only so many extra hours you can work in a week, even on a full time basis.

To survive as IT consultants and eventually make the transition to full-time, you need to study the competition when it comes to setting your rates. As you look to move into full time consulting, make sure you have multiple sources of steady consulting revenue.

The Bottom Line about IT Consultants

Dont put all your eggs in one basket and dont quit your day job if % of your IT consulting revenue is just coming from one or two clients. Theres too much uncertainty. As IT consultants, you want to make sure that youre diversifying your client roster.

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