By Rob Nixon
I would love to meet the person who invented time-based billing. I think this person is a complete business moron and I would have much pleasure in highlighting the unethical behavior that this method causes. This is probably the same person who invented write-offs as well. What a complete idiot.
The premise is that if you get the charge rate right and the time to do the job right, then the price is right. Nothing could be further from the truth.
MORE ON STRATEGY: Feel Good About Yourself | You Can’t Lavish Time Unless You Have Time to Lavish | Changing Accountants: 2 True Tales | Your Clients on Your Terms | How Much Should Partners Make? | Be a History Maker | Why ‘Steady as She Goes’ Isn’t Enough | How to Calculate a Value Price | Boost Efficiency and Your Bottom Line | Marketing Must Generate Leads
Exclusively for PRO Members. Log in here or upgrade to PRO today.
Time-based billing does not value the project. The only value of a project is what the market is prepared to pay for it. I am going to challenge your thinking of time-based billing and encourage you to adopt a new model of value pricing.