Negotiating Tips for Freelancers
Cincinnati, OH | Posted: 02/28/2016 | Author: Stuart Koenig
Some people are born negotiators. No matter what the situation, they can get the best deal possible. Brave and bold, these people see the angles and are unafraid to take advantage of them. Chances are, these people aren’t you. And as a contract artist, you need to be able to negotiate fair compensation for work. Nobody wants to get caught on the short end during the give and take of client dealings, but scaring away or angering clients by overshooting bids is a real worry as well. This tends to be a learned skill rather than a natural trait for most, so let’s look at some important tips to keep in mind when dealing with project negotiations.
Leave Room To Negotiate – Obvious to most, but it bears emphasis – don’t start with your best deal. Aim a little higher, and come down from there. If you initially quote the price you think a project should cost, you’ve left yourself very little wiggle room to negotiate. And no matter how negotiations unfold, make sure to have a definite minimum cost, and stick by it. It’s essential to calculate an acceptable lowest rate of compensation, otherwise the project isn’t worth the time and effort.
Quote By Project Cost, Not Hourly Rate – Take a look at the project as a whole, and charge accordingly. This is advantageous for a few reasons. First, quoting by the hour limits your earning potential, as there are only so many hours to work in a day. Second, it sounds more palatable to the client if you say “This project will cost $200 to produce”, rather than “This project will take around an hour to produce, and cost $200”. Hourly charging can also hinder your work performance as well, as it’s easy to be less focused on the task at hand. However, some clients will insist on an hourly rate, so be ready to break down and convert that project cost. Just in case.
Establish the Scope – Don’t let a negotiated project turn into an excuse to pile on more work that wasn’t discussed. Establish the specific parameters of a project while in negotiation, and stick to them. Get everything in writing with the client so there’s no misunderstanding or confusion down the road. Any additional work not discussed needs to be agreed on and renegotiated, or else your deal suffers.
Let COC Help – Creatives On Call is staffed with experts in getting artists the best possible agreements when dealing with clients. They know what artists should be paid because they’ve been doing this for years, and they’re artists themselves. Let Creatives On Call guide you through the process of striking a perfect balance to maximize earning and minimize stress!