What are the chances that this is the most viewed section of the entire Next Level Library? The way you present yourself, the way you behave in your preparation, the way you clarify your process – all will have an impact on how you are perceived by potential clients. Ultimately, if you do a poor job differentiating yourself by your process, you will end up having to differentiate by your price.
There are numerous options that you have when it comes to customizing your service charge and approach to the needs of your client. In this section, we will give you an overview of the most common types of service charges – Contingent Search, Retained Search (with no placement commitment), Financially Committed Search, Consulting Agreements, and Annualized Agreements.
In a perfect world, you will first have the opportunity to gather strong insights into a client’s areas of pain and needs for growth before you begin rolling out your service charge and terms for working together. The phrase “prescription before diagnosis is malpractice” is incredibly relevant to this step in the client development process – the discussion around recommending a solution and your professional fees should not take place until you fully understand where the client is in their hiring process.
Once you’ve garnered enough information to formulate a game plan, it’s time to create and deliver your Professional Recommendation to the prospective client. It is imperative that your recommendation for a solution and fee is presented with absolute confidence, and that you are very clear about your recommendations and process. It is at this point in the conversation that you have the opportunity to differentiate yourself as a true consultant and collaborator in this process – not just a vendor.
After presenting your Professional Recommendation to your potential client, it is anticipated that you will encounter some form of resistance. Just like we covered in the other Objections Segments in the Library, you should be fully prepared to handle all typical statements of resistance. We can essentially predict the objections that you are going to hear on a daily basis, and those are the ones we have covered in the following section.