Over the last few years one of the most common questions I receive from clients is what is the breakdown for your company fees?
Once you have the breakdown of the work performed the next question is about your hourly rate. Now, you can show success for the services rendered, yet sometimes the client just doesn’t get the value. Yesterday I came across this “Wise Tale” which I can’t prove to be true, but does the job of showing value to your client in the basic terms.
Thomas Edison visited Henry Ford at his factory, which was having some kind of difficulty. Ford asked Edison if he could help identify the problem area. Edison listened to the diesel for a few moments and with a small pocket screwdriver turned a couple of screws a quarter turn and the engine ran beautifully. Ford was thrilled, and told him to send an invoice.
The bill arrived, for $10,000. Ford asked for a breakdown. Edison sent another invoice, indicating a $1 charge for turning two screws, and $9,999 for knowing which screws to turn.