If we offer a service, how do we price our time? The title of this blog is taken from a song where ship captains used to try and skip port without paying the dock workers and/or crew. You can listen to a version here: Pay Me My Money Down.
Ewan Davis devoted an edition of The Bottom Line on BBC Radio 4 to the challenge of pricing for professional services – The Price of Time. His guests included a senior partner of a magic circle law firm, a global communications group executive and an on-line estate agent. They discussed their pricing models ranging from hourly rates to straight commissions and how they adjust these to meet client expectations.