The money talk with clients is unavoidable, if you have fixed rates this talk is one that will probably be quick and easy.
However, with or without a rate reference, before you talk about money here are the 2 things to do
Know Your Costs
If you know how much went into the production you will be able to determine how much you can charge without undercutting yourself. Sometimes, the customer is a cash buyer but before you are tempted to take that money, have your costs in mind.
Do not rush to accept. You can always respond with,
“I typically do not accept money offered until I have gone through the numbers. I will get back to you with a quotation”
Go through the numbers so you neither quote lower than your costs nor higher than necessary. Once you are happy with the numbers do the quotation and send it off immediately.
If the number that was offered will not do for you send the quotation anyway with a note saying,
“I am unable to do the work with the amount you offered but here is my quote. Could we meet at this amount?”
Knowing the cost will always ensure that you get the right amounts, every time.
Know Your Value
If you do not know your worth you are more likely to be negotiated down. Yes, you may be new to the business and might think your inexperience is reason to accept any offer but you should not. Know your worth. You stand a greater chance of being taken seriously as a professional simply by knowing your value.
You know how many hours you put in; you know how much the going rate is for most professionals in your industry so even if you are self-employed you do deserve fair pay for you work. So, there is nothing wrong with telling a client what you think you deserve or how much you were recently paid for similar work recently.
However, when naming your price be very clear, direct, and brief and never name more than one figure. NEVER hesitate or admit what you were hoping for with, “Um, I was really hoping for this much but if this is the best you can do, it’s Ok.” It is not! You are under valuing yourself. You may or may not get the exact rate you name, but it is always good to know your worth.
