Consulting Fees: Charging for Services.
One day, a company’s machine suddenly broke down and the owner who was an old friend of Niels Bohr called him to get it fixed. Mr Bohr takes a look at the machine, draws an “X” on the side of the machine and says to the company’s mechanic, “Hit it right here with a hammer.” So the mechanic strikes the X on the side of the machine, and the machine sprung to life! The owner was very grateful for Mr Bohr. He generously thanked him then sent him on his way. Within a week or so, the owner gets a bill from Niels for $10,000! He called him up and demanded, “Niels! What’s this $10,000 invoice? You were only here for 10 minutes! Send me a detailed invoice!” Mr Bohr agreed, and some days later, the owner got the new invoice. INVOICE: Tasks Costs Drawing “X” on the side of your machine $1 Knowing where to put the “X” $ 9,999 Total $10,000 Source: https://www.authentic.com.au/blog/coaching/how-to-charge-what-youre-worth-as-a-coach/