As an OBM or an aspiring OBM, have you ever found yourself torn between hourly rates and retainers? Let’s dive into OBM pricing strategies! With your valuable skills and time at stake, there’s much to consider. Hourly rates offer transparency and flexibility, while retainers provide predictable income and client commitment. Each option has its perks, but which will best suit you?
Fret not friends! An exciting breakdown of the pros and cons of both options is just around the corner. Pricing strategies can be overwhelming for OBMs, so here’s a simplified rundown of the pros and cons for both hourly and retainer-based options:
Hourly:
PROS: Transparent, Flexible, Fair, Provides insight into time management.
CONS: Uncertain Income, Limited Earning Potential, Administrative Overhead.
Retainer:
PROS: Predictable Income, Client Commitment, Ensures an efficient workflow.
CONS: Scope Creep, Over/Underutilization, Lacks Transparency.
By understanding the advantages and disadvantages of charging hourly versus using a retainer, you’ll be empowered to make an informed decision that aligns with your goals and values as an OBM. This ensures a successful and rewarding journey in the captivating world of online business management.
To find out more about these pros and cons and more tips, head over to our podcast and give it a listen now! Click here for that awesome experience: https://five.libsyn.com/episodes/view/27493203
Have some experiences about this that you want to share? Let me know in the comments below!
