Running a small company is a lot of work, particularly when you run a one-person shop as a freelancer or consultant. At that scale, every client counts. When a new prospective client crosses your path, it’s only natural to want to give them plenty of time. Meeting face-to-face, perhaps sitting down for an hour over a cup of coffee, seems like the right way to have an initial consultation. From a sales perspective, however, it’s absolutely wrong.
More accurately, it’s ineffective and inefficient. Spending an hour on your initial consultation, only to find that you’re a bad fit for each other, represents more than a sale that didn’t happen. It also represents an hour that you can’t charge for, and couldn’t spend finding new clients. When you bill by the hour, time is money. Continue reading