A question usually asked is How does my fee work? Here is the straight forward and blunt answer.
Usually, I work on a success based model.
This means I put in a relatively high number of hours, for free, into a project to ascertain the probability of success. This also means talking to you, briefly consulting, advising, data gathering, formatting the opportunity resume and then distributing the same to my solution providers, having multiple calls with them and then arriving at a decision.
All this is time. My time.
Time = money!
In most cases, all this comes at NO charge to you. Not even a penny! (there are exceptions, see below)
Once I am confident that a solution provider is reasonably eager to work with you, I would then have you and I draw out a referral agreement.
The referral agreement makes it a point that I would get a certain, mutually agreed referral fees, ‘should’ you decide to sign-up with the service provider I introduced you to. Once you sign the referral agreement, then I will introduce you to the provider. It is now up to you and the provider directly to assess each other and see if there is a business fit.
If you sign up with the service provider, then I deem the project to be successful and the referral fees are due to me.
Needless to say, I reserve the right on this. In many instances, I might feel that the potential client is lingering on and on, asking questions after questions, yet not proceeding ahead. It becomes quite difficult to gauge the seriousness. So in such instances, I would ask the client to front a 25% non-refundable fees, so I know that they are serious.
If you have any questions / comments about this. Please feel free to ask.