In this episode of The Free Agent Podcast, Beau Billington hosts Jake Stahl, a seasoned Chief Learning Officer and a dynamic sales coach, for a second insightful conversation. Building on their previous discussion about ICP development and creating referral circles, this episode dives deep into the tactical aspects of pricing strategies for fractional executives.

Jake emphasizes the significance of setting and sticking to your pricing without negotiating down, as lowering prices can devalue your services and create a precedent for future clients. He highlights the psychological impact of maintaining firm pricing, explaining that potential clients may still pursue your services even if initially hesitant about the cost.

Different pricing models such as monthly retainers, project-based pricing, and selling blocks of time are discussed. Jake shares his method of reverse engineering pricing by starting with annual income goals and breaking it down to monthly and hourly rates. Beau and Jake also discuss the pros and cons of long-term engagements versus flexible monthly renewals, with a preference for maintaining flexibility while ensuring a steady flow of work.

The importance of managing multiple clients to mitigate risk and ensuring equitable distribution of time and revenue among them is highlighted. Jake and Beau stress the need to avoid becoming overly reliant on a single client. They also share strategies for transitioning from full-time to fractional work, including starting side gigs while still employed and gradually building a client base.

Leveraging personal networks to find initial clients and the importance of consistently asking for business and referrals are key points of the discussion. Jake and Beau talk about the realistic timeline for securing clients, which can range from a few months to potentially longer, depending on various factors such as network strength and market conditions.

The episode concludes with practical advice for aspiring fractional executives on maintaining persistence, leveraging networks, and understanding the value of their services. Jake shares his contact information for those interested in learning more about his consulting services.