Life has been tough for many independent consultants and freelancers over the last year or so. Clients are under pressure to reduce costs and retain permanent staff – plus to read the press it would seem there are thousands of newly redundant 40 and 50 something’s looking to set up as self-employed.
After analysing the results from this year's fee survey, though, it seems that most consultants are optimistic about the coming year. A whopping 93% see revenue stabilising or improving this year and over half expect to grow.
There has clearly been pressure on fee rates, which have dropped an average of around 8%, and many of our respondents have been asked to work for free - or as good as - at some point in 2009. The good news though is that while people are happy to be flexible for charities or businesses that are really struggling generally they feel confident enough to walk away from clients who are just pushing their luck - which often results in a change of heart from the client!
The key I think is to be clear about the value you bring to a client and make sure they understand this - arguing about fee rates fades into the background if your client knows you will deliver and trusts you to improve their business.
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