marketing & sales: Are You the George Clooney of Your Market
6. Are your prices at the top of your field? Bankable advisors are able to charge high prices. But there is more to it than that. Many researchers have demonstrated that high prices lead to high perceived value. Most people think it's the other way around—that you deliver high value and get high fees. But consider this: When you buy a luxury BMW, you expect it to be fabulous. So on the road to becoming bankable, you enter into a virtuous circle of ever-higher perceived value and fees, with clients experiencing what they expect. One other thing happens: Part of your value comes from the fact that hiring you reduces risk for the person who has retained you. That was IBM's huge advantage in the early days of the computer industry—no one ever got fired for buying IBM. In other words, you add value just by virtue of your bankable status.