July 28, 2016

Picasso’s remuneration

My clients sometimes ask me: “Can’t we have your consultancy at a cheaper rate?” “Sure” I answer, “But first you have to tell me which part of my business life you do not need!”

To explain my question I tell them the anecdote about Picasso:
“Picasso was sitting in a café when an admirer approached and asked if he would make a sketch on a paper napkin. Picasso swiftly executed the work, and handed back the napkin — but not before asking for a rather significant amount of money. The admirer was shocked: “How can you ask for so much? It took you a minute to draw this!” “No”, Picasso replied, “It took me my entire life.”

Having sold 5 of my companies and consulted hundreds of shareholders on how to market theirs there is a lot of know-how accumulated, which could be used to the benefit of my clients. Unlike in the Picasso anecdote they start to understand the value of it when they see the know-how working for them.

The art of the matter is about how to explain to your prospective clients why they have to buy your services although there are some cheaper offers lying around.

Ask them why they know what they know.

The oldie of the week: Rick Wakeman – Julia (1984)

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