How Low Should You Go?
Recently a client of mine tried to low-ball me. She knew our standard rate for the project in mind, but asked if I would consider going lower–of course, just this once.
And I’m sure I’m not the only freelancer that this has happened to. After all, our global economy isn’t so hot. Some people are trying to get something for nothing, while others are honestly having a tough time. As a freelancer trying to keep business afloat, where does that leave you? Is there a way to deal with a prospect or an existing client who wants a discount, or an unreasonably low price? Is it better to do a one-time job on the cheap rather than “spoil” an existing client relationship?
Here are some points to keep in mind when a client asks if you can “go a little lower.” Hopefully they’ll help you assess whether or not you want to reduce your rates, and if so, what the future ramifications of that could be.
The Secret Costs of Being Cheap
As freelancers, there are times when it is essential that we save money or spend it very economically. But there are other times when being cheap will wind up costing more.
I learned this the hard way when I set up my freelance writing business in January 2004. The biggest mistake I made, over and over again, was thinking of myself as having a home office, not a home business. I thought of myself as being small – and as a result, wound up spending money twice. Here’s how:
