If you’re considering using a flat fee billing service or an hourly service for your projects, you should keep reading. The Youtube video “Hourly Billing vs Flat Fee” shows the pros and cons of each option to help you make a decision. Let’s find out more!
Many professionals, especially lawyers, outsource their financial management options and billing services. One aspect of these services is that they can offer to track how you bill your clients, but they’ll need to know if you’re charging a flat fee or an hourly fee.
The issue with hourly billing is that it can frustrate clients. People feel like they’re nickeled and dimed for a simple ten-minute conversation, and that can result in unhappy clients that won’t refer you in the future. Additionally, providing an estimate with hourly fees can be so tricky, but changing to a flat fee ensures that you’re giving a real number to your customers.
You need to analyze the case, figure out what it’ll cost to take it as far as it’ll go, and come up with a solid rate that won’t deviate no matter what. This builds confidence. You can watch the rest of the video for more details about a flat fee billing service.