Even the most confident freelancers are terrified by the word ‘negotiate’. However, if you know what you’re talking about prior to asking for money, you can greatly reduce the level of stress. Come up with some solid negotiation strategies, and you might just win yourself a sweet deal. Make sure to include the following elements:
- How much you want to make
- How much you’re willing to accept
- Are you willing to compromise and work for less money?
- How much you’re willing to compromise?
A lot of freelancers don’t seem to understand that negotiations involve a lot more than just money. When a freelancer can’t agree to a fee that can suit both parties, he or she might be required to adapt his or her job description and accept a more reasonable price. The following negotiation techniques for freelancers might really help you close a deal and have an advantage.
Talk about money
Every negotiation starts with money. It’s what you need and want to run a profitable freelance business to pay for expenses, and it’s also what your client anticipates.
When an employer ask for the fee of a specific assignment, freelancers have the tendency to request the exact price they want to get the job done, and they hope that their future employer will agree to the terms. On the other hand, there are freelancers who ask for a higher price, and if the employer asks for a discount they won’t lose anything.
In special cases the client comes up with the fee for the assignment, and he present the offer as if it’s not negotiable. Freelancers should know that every offer can be negotiated, and even if you’re not getting a raise this doesn’t mean you can’t try.
After you’ve managed to settle on the price, it’s time to talk about duties and additional assignments. Always aim to change a low price into a fair one by restricting the number of working hours. Freelancers have the tendency to work more because they’re independent contractors. Still, that’s not a reason to work for free.
Talk to your client if something doesn’t seem right and make an attempt to negotiate the terms of the deal.
Just because you were hired to write articles for a website, it doesn’t mean you have to make the logo as well. State your conditions as clearly as possible, and stick to your assignments exclusively. Independent contractors are freelancers don’t have medical insurance or any other type of benefits, so they must really learn how to work those disadvantages to their favour.
Unlike permanent contractors who receive work contracts and additional benefits, freelancers are in disadvantage. Also, because there’s no contract involved, you can’t be sure you’ll get paid. Prior to starting a negotiation, make sure that your online profiles are set in place. LinkedIn is the best way to show a potential employer that you’re reliable.
You can ask for a 50/50 deal, or you can put your trust in that client and get the job done first. Either way, it’s important to be smart every step of the way, so that’s why negotiation strategies are so important.
Don’t be intimidated by massive corporations
Young entrepreneurs and small business owners are often intimidated when it’s time to negotiate deal with larger companies. It’s really important to know your goals. State your conditions loud and clear, and don’t let them offer you less money just because you’re an independent contractor.
An excellent plan B and great communication skills might save you, so you should never hesitate to take a stand.
It’s not the end of the world if you walk away
Big companies know that freelancers are willing to work for less money. That gives them the power to exploit you into accepting miserable deals. If that happens, you shouldn’t be afraid to walk away. Not all negotiations end on good terms, but it’s important to keep your calm. Just because they’re offering you the lousiest deal it doesn’t mean you should insult them. Decline their offer respectfully and move on. Sooner or later someone will notice your potential, and as long as you know your worth in the business field, you’ll find someone to value it.
Author Bio: William Taylor is a negotiation expert and mostly writes on the topics related to negotiation and business. Moreover he is running a site to provide workshops in negotiation, with are chock full of important business tips and new career advice. If you want to know more log on to thegappartnership.com.