He probably means a lot of things, but close to the top might be "bill for the project instead of time spent". If you bill by units of time, you will like unde

He probably means a lot of things, but close to the top might be "bill for the project instead of time spent". If you bill by units of time, you will like under-exploit the information and skill asymmetry between yourself and the client, and leave a lot of money on the table. You should instead price as a meaningful fraction of the value you're creating. You may not know that number, but the client will more or less signal it to you in negotiations if you're canny. Something that's relatively easy for you to do (that might take a month, for example) could generate millions in revenue for the client. You're entitled to a large chunk of that. It's in fact this approach that can make consulting extremely lucrative: someone has already gone through the work of acquiring leverage by building a business and you're coming in with the rocket fuel. You arguably should never take a contract where this isn't clearly the case, since committing to a project has an opportunity cost in your own time.