It is quite common to outline professional fees prior to a thorough search assessment. This is a most often mistake. Not until a need is precisely defined can a search firm understand the resources needed to successfully complete an engagement. Due to the contingent nature of most searches, the idea of maybe/maybe-not has enabled this mistake. Successful executive search firms consider, carefully, each potential engagement and secure only those where success is certain. Upon successful completion of the search assessment, the search firm should present a synopsis of the precisely defined need with an outline of the search procedure and resulting professional fees. Empowered by the thorough and complete understanding of the target organization’s need as well as consideration of the resources within the marketplace the search firm can confidently express the values of its search services. It is at this point the search firm and the target organization should agree to terms and execute a letter of engagement.