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My rate on my website?

My rate on my website?

My rate on my website?

(OP)
Hi,
Is there any thing that prevent me from putting my hourly fee for consultation on my website?
Thanks for replies
Replies continue below

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RE: My rate on my website?

That rather depends on where your business is registered, I would think. It's certainly unusual to quote a rate for professional services, except those advertised on postcards in public call boxes.

Cheers

Greg Locock


New here? Try reading these, they might help FAQ731-376: Eng-Tips.com Forum Policies http://eng-tips.com/market.cfm?

RE: My rate on my website?

The only reason I can think of for not doing it is it limits your flexibility to tell a jerk "My hourly rate is [50% higher than it really is]". You can always discount a published rate but you really can't reverse discount it. If you publish a 50% higher rate with the intention of discounting it you run the risk of people who would have otherwise hired you not calling you.

David Simpson, PE
MuleShoe Engineering

"Belief" is the acceptance of an hypotheses in the absence of data.
"Prejudice" is having an opinion not supported by the preponderance of the data.
"Knowledge" is only found through the accumulation and analysis of data.

RE: My rate on my website?

Dave, specifically I was thinking of lawyers in Australia who used not to be allowed to advertise their rates. I agree, I'd rather leave myself the option of quoting a higher rate for dull jobs and cantankerous clients. On the other hand, at least if your quoted rate is higher than a lawn-mowing service it might dissuade some hobbyists (BTDT).

Cheers

Greg Locock


New here? Try reading these, they might help FAQ731-376: Eng-Tips.com Forum Policies http://eng-tips.com/market.cfm?

RE: My rate on my website?

When I first started my business I thought there was a legal requirement to advertise in the Yellow Pages and Google. Every single call I got from those expensive adds were people who thought they should pay $10-$20 for a week's work. When I told them that my rate was $150/hour mostly they hung up on me. When the adds came up for renewal I passed. There is still a one-line entry for MuleShoe Engineering in most of the directories around here, and I still get the occasional homeowner question but mostly they leave me alone.

David Simpson, PE
MuleShoe Engineering

"Belief" is the acceptance of an hypotheses in the absence of data.
"Prejudice" is having an opinion not supported by the preponderance of the data.
"Knowledge" is only found through the accumulation and analysis of data.

RE: My rate on my website?

Just say "competitive" and that leaves you the ability to judge the customer and job??

RE: My rate on my website?

In my opinion, rates should not be published for professional services. That leaves you flexibility to raise your rates when necessary.

RE: My rate on my website?

Agree, agree, agree. Don't do it.

If your rates are flat, then you'll only allow yourself flat customers. One company I know (custom machinery engineering, design, build) had a project cost estimation spreadsheet for developing project costs. They included several additional charges or percentage markups over their standard cost rates. These included such things as penalty percentage adders for "difficult customers" (affecting their design efficiency), "new unknown technology" adders for moderating the risk involved, and other such things.

TygerDawg
Blue Technik LLC
Virtuoso Robotics Engineering
www.bluetechnik.com

RE: My rate on my website?

Tygerdawg,
That kind of thing is really effective for bidding the whole project (I just double my hourly rate and add between 10% and 50% to the sum depending on those kinds of factors), but unless it is a hard-dollar bid it is really hard to recover those elements unless at the end of the spreadsheet you divide the total dollars by the estimated hours and get a project-specific hourly rate (which I suppose is not a bad thing, but logistics of keeping up with it can be tough).

David Simpson, PE
MuleShoe Engineering

"Belief" is the acceptance of an hypotheses in the absence of data.
"Prejudice" is having an opinion not supported by the preponderance of the data.
"Knowledge" is only found through the accumulation and analysis of data.

RE: My rate on my website?

DOn't do it. It simply allows your competition to undercut you by $5 and hour and lot of clients are simply dollar shopping for engineering. You need to explain the value of professional services. 100 hours of a senior engineer's time is worth XX hours of a junior's time - plus publishing your rate means you never get to negotiate it to suit the needs of the job.

RE: My rate on my website?

Cracks me up. "100 hours of a senior engineers time is worth xx hours of a junior's time". "xx" implies less than 100. So Junior Engineers are more valuable than Senior Engineers. You don't happen to work for BP do you?

David Simpson, PE
MuleShoe Engineering

"Belief" is the acceptance of an hypotheses in the absence of data.
"Prejudice" is having an opinion not supported by the preponderance of the data.
"Knowledge" is only found through the accumulation and analysis of data.

RE: My rate on my website?

Yu've misinterpreted my point - use YYY hours of a junior's time. You're going the wrong direction. Here's my point, a senior can do 100 hours of solid engineering work that will take a junior 150 hours....and will still need a senior's oversight.

RE: My rate on my website?

I knew that was what you meant. The "xx" just made me smile on a day where not much has.

David Simpson, PE
MuleShoe Engineering

"Belief" is the acceptance of an hypotheses in the absence of data.
"Prejudice" is having an opinion not supported by the preponderance of the data.
"Knowledge" is only found through the accumulation and analysis of data.

RE: My rate on my website?

Yeah, I'm in the same frame of mind - one of those days where even a little spelling mistake on a drawing just winds me up....grrr.. Might need to find a corkscew this evening. :)

RE: My rate on my website?

An advantage of posting your rate on your website is that it adds straightforwardness to the process. One of the things that drives me nuts is complexity in financial agreements. For me there are two modes of operation: 1. Its a lump sum fee, and no matter what I will finish the job for that fee.
2. I will charge you $X/hr, and you will pay me for every hour that I work no matter how many that is.

Total transparency about your hourly rates is a positive because clients understand that this is just your rate, and you are not screwing them or giving someone else a better deal. For bonus points, you can even round off to a nice even number like say $100/hr, or $200/hr.

RE: My rate on my website?

(OP)
Thank you very much. You shed the light from different angles on it.

RE: My rate on my website?

"For bonus points, you can even round off to a nice even number like say $100/hr, or $200/hr. "


Sorry, my last post was cut off in mid flow. That is the most ludicrous suggestion I have heard since I last listened to parliamentary question time.

Cheers

Greg Locock


New here? Try reading these, they might help FAQ731-376: Eng-Tips.com Forum Policies http://eng-tips.com/market.cfm?

RE: My rate on my website?

GregLocock,

Why are round numbers ludricrous? The point is straightforwardness. We all outsmart ourselves with contracts we don't understand leading to disagreement and consternation.

RE: My rate on my website?

Greg...you've been warned before...Don't use common sense, logic and practicality spineyes

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