2 pm | October 2015

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The great thing about running myown business is that I get to dothings my way – I’m The Boss!About 20 years ago, I went to a

full David Maister conference onmarketing for professional services. Hewas probably at the top of his game thenand was working for many of the leadingfirms on both sides of the Atlantic. Hegleefully explained how it was all aboutbeing a trusted adviser. He demonstratedthis by charging himself out at thousandsof pounds a day but telling his clients“you pay whatever you think I’m worth”.

Now the real Boss has a line in one ofhis songs “We learned more from a threeminute record than we ever learned inschool”. And one thing I’ve learned, espe-cially over the last couple of years is howmuch we can learn from music andartists. I dismissed David Maister’sconcept because although it seemedattractive he was fabulously positioned inhis market. A few years ago I went to seea band called Hope and Social and wasblown away by their music and exuberantperformance. I went to buy some of theirCDs after the gig and was taken aback tobe asked just to pay what I wanted. I washooked, I have become a big fan of theirmusic and the way they work. When Iquit the chambers I used to run, the staffvery kindly got me a signed band T-shirt.What surprised my colleagues was thatthe band had immediately said, “yes we’lldo that, just buy a CD or two and paywhatever you want”.

When I set up my consultancy acouple of years ago I had to think aboutmy pricing and positioning. As the title ofthe book implores, like most of us, Iwanted to be ‘The Trusted Adviser’. Sothis same pricing concept coming fromtwo radically different sources resonatedwith me. So I developed ‘Pay Fair’. I agree

Pay fair?!Tim Collins, Regional Director,PM Forum North West

Referrals and word ofmouth are vitalmarketing streamsbut sometimes you seethe integrity ofreferrals beingundermined.

an hourly rate with my client but ulti-mately they pay the amount they judgemy work to have been worth to them.

We also know that referrals and wordof mouth are vital marketing streams butsometimes you see the integrity of refer-rals being undermined. Is the personrecommending you being paid a fee or ina particular network or club? So I decidedto tell my clients that I’d love them torefer me to others and if they did I’ddonate 10% of whatever fee I earned fromtheir referrals to Simon on the Streets.

I hope you agree that it is an attrac-tive proposition – but does it work?

Yes! And I’ve also been having awhale of a time with Hope and Socialhelping out with some of their projects.

Managing editorNadia Cristina pmmagazine@pmint.co.uk

PublisherRichard Chaplin

Editorial consultant in chiefKim Tasso

Regional editorial consultantsAsia – Robert SawhneyAustralia – Dianne DavisCanada – Larry StroudUSA – Larry Bodine

Commercial & membership enquiriesMaggie O’Neillmaggie@pmint.co.uk

Cover designMytton Williams

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