To Get Paid What You Are Worth, Don't Say a Word
If you're like most freelance copywriters and other solo
entrepreneurs, you get rattled when it's time to talk about
money with your clients. You may feel like you are being greedy
or sleazy, or you might worry that your fees are too high or too
low. Inevitably, though, you must state a price for your service
or product. And if you're serious about making a good living in
your solo enterprise, you must command a reasonably healthy
price.
After 20 years as a freelance copywriter, I feel very
comfortable stating my fees. In fact, I even enjoy it. With some
practice, you may grow to enjoy it, too. And you'll certainly
reap economic rewards if you do it right.
Stating a good fee for a project is a skill you can learn. I
can't teach you everything you need to know about it in one
brief article. But I can give you what I think is the number one
rule for successful fee-stating:
After you tell a client your desired fee, stop talking.
The first one who talks loses.
Preferably, the last word you say should be the dollar figure.
So try to explain everything you will provide before you state
your fee.
Here's an example:
"Mr. Smith, I'm very excited about working on your company's
print brochure. I will gather all the information, write the
complete copy, and make up to two rounds of any changes you
request that substantially alter your original intent. I'll also
proofread the brochure copy before it's printed. My
all-inclusive fee for the project is $750."
Don't elaborate. Don't make excuses. And above all else, don't
say, "Is that okay?" Just stop talking.
You'll probably sit through a period of silence for a minute or
two...although it may seem like hours. But don't say a word, no
matter how uncomfortable you feel. The ball is in the client's
court. If you can hold your tongue, you are much more likely to
get the fee you want...or at least something close to it.
During the silence, your client may be thinking: Is that a fair
price? Can I afford it? Should I make a counteroffer?
While the client ponders your fee, stay silent. You want the
client to talk first, because that will give you the edge. If
you talk first, you give the edge away.
Eventually the client--who is probably just as uncomfortable
about the silence--will say something. Then you can respond.
Perhaps you'll need to negotiate because the client feels the
fee is over his or her budget. The client may ask a question or
two. Or maybe the client will say, "Okay."
By the way, if the client quickly says something like "Great!"
or "That sounds very reasonable," your fee is too low. You can't
go back and ask for more money, but you can make a note of the
mistake so you'll be less likely to make it again in the future.
Get paid what you are worth. To help ensure that, keep your
power with the sacred silence that comes after you state your
fee. And remember the cardinal fee-stating rule: The first one
who talks loses (the edge, that is).