Captain’s log, stardate 20161231
Sent by Jonathan Stark on December 31st, 2016
For at least the last five years, the “sales” page for my strategy retainer has gone virtually unchanged. Pretty much the only thing I ever alter is the price.
The reason I put “sales” in quotations is that it’s a horrible sales page.
(I’m very much looking forward to rewriting it and the rest of jonathanstark.com this year.)
Nevertheless, I’ve had at least one retainer engagement running for as long as I can remember (not the same one, but at least one).
Most engagements last for at least six months but typically go for at least a year. I can think of two off the top of my head that exceeded three years.
At times I have had two going at once, and on rare occasions have had three going simultaneously.
The lowest monthly fee I’ve ever charged for a retainer is $7000 per month. More commonly, they’re in the low five figures.
Occasionally, I have to fly to a retainer client for an important meeting but most of the time a retainer client takes up less than two hours per week of my time.
The moral of the story is this:
Retainers are very profitable for me.
(Also, clients love having access to me on a retainer basis. That’s why they last for so long. More on this soon...)
Anyway, here’s a link to my (bad) sales page to give you an example of what one might look like:
Tomorrow, I’ll give some detail about how I ensure that retainer clients don’t dominate my time.
P.S. Check your inbox Monday morning for your huge discount on the second edition of Hourly Billing Is Nuts - your codes will expire on Wednesday at midnight so keep your eyes peeled!