Work Reimagined is an AARP initiative powered by LinkedIn, “dedicated to helping experienced professionals connect to more satisfying careers.” For the November issue, writer Elaine Pofeldt featured Michael Meath and how he has successfully built Strategic Communications, LLC based on mutually beneficial retainer agreements with many of the company’s clients.
In an excerpt: “If you work for clients on a project basis for a while and knock it out of the park every time, hiring you on an ongoing basis may occur to them. That’s the ideal scenario. ‘The best position is one where you’re not doing the chasing—you’re fielding questions on what you can do to help a potential client,’ says Meath.”
The article also talks about the value of longer term clients and having the confidence to give them an escape clause: “Some consultants offer three- or six-month retainers to clients with short-term needs. However, it’s often better to negotiate arrangements that last at least a year, so you can make demonstrable progress on benchmarks you’ve set. It sounds counterintuitive, but giving clients an option to back out with 30-days’ notice may persuade them to make a longer-term commitment, notes Meath. ‘It gives them confidence and control.’”
You can read the full article at workreimagined.aarp.org/2012/11/grow-your-business-with-retainer-clients, and you can contact Michael here.