It’s ok to have a low fee, according to my guest, Rafi Mohammed, author of The Art of Pricing, so long as it’s the bottom of your pricing range. That’s one of the gems we learned during the Art of Pricing Call last month.
Setting fees remains a challenge for most mediators including me. Our group wrestled with tricky issues like how to explain differing fees for the same services to clients, and how to articulate the value you bring to distinguish your mediation practice from others.
Rafi also showed us some techniques to avoiding jumping into a pricing conversation with potential clients too soon. (Ask clarifying questions and for time before setting a price) It was a rich conversation, and honestly, I’d count Rafi as one of us. He’s a marvelous listener and knows his stuff (he’s been an expert on pricing for 17 years and his website, PricingForProfit.com has loads of useful information).
As a group, we’ll review the three concepts of versioning, unbundling and segment-based pricing and spend time talking about retainer and fixed price fees. And, because having ‘can do’ confidence is key, I’ll reveal the formula I use to make the overwhelming seem absolutely doable. The real benefit, of course, is being able to talk about this sticky subject with other mediators which rarely happens.
Try. Fail. Learn. Prosper!
Larry Fong discusses how the institutionalization of the field has put boundaries around it, thwarting the creativity that was so characteristic of the field's start.By Larry Fong