About a year ago, I had a long discussion with a prospective client about this. The simple fact is that charging by the day, or per word, creates an immediate conflict of interest: the client is motivated to go short while you are motivated to go long.
I was reminded of this by a marketing mail from John Niland’s VCO Global:
Charging for time is easy. It’s familiar in many sectors: from the oldest profession to the newest. However, there are three problems with hour/day rates:
1: While on the surface, a day-rate is easy to agree with your client, it creates a fundamental conflict of interestin most relationships. Your client wants the fewest days possible: you often need more time to do a quality job. Furthermore, the client is likely to involve you later rather than earlier, in order to save cost…