One of the scariest things a solopreneur has to do is start the discussion of how much a project will cost. You might be having a great conversation with your client, in which you learn everything your client needs and you figure out how you can delight your client with your deliverable. Then comes the big moment where one of you has to start talking about cost….
Do you choke?
If you are a true Star Wars fan, you know who Colin Cantwell is. For the rest of us, let me introduce you to a concept designer whose ability to be entirely client-focused landed him a really awesome gig.
“Well, what you do sounds interesting, but could you send me a sample project?”
This is one of the most-feared questions a solopreneur encounters. You might freeze, not having a portfolio of the best, sufficiently-anonymized examples of what you do. A much better approach is to turn the question around and find out what your prospective client is most concerned about. What is he really worried about — that you can’t do the work? that your deliverable will be a piece of junk? something else?
Sometimes it’s the little things that make all the difference. I have had two experiences recently that reminded me of how effective a small gesture is in conveying customer appreciation.
I often write about how to create a business that supports you financially and that you love. But I’m feeling contrary today, because I’m inspired to offer my best advice for solopreneurs who aren’t interested in succeeding. If you want a business that doesn’t attract new clients, clients who are overly price-sensitive, or if all your marketing efforts are failing and if you want more of the same, then here are some tips for you, with tongue held firmly in cheek.
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One of the scariest things about being a solopreneur is wondering if you will get paid by your client. Some people can get 100% of their fee up front, but most of us don’t, so we are always taking a risk that our client will decide not to pay us once the project is done.
I was “fortunate” to have gotten two deadbeat clients within the first few years of my business, and I consider myself lucky. They were both small projects, I learned something important from each one, and — surprise! — both clients eventually paid me. First I’ll tell you a little bit about each situation, then I’ll tell you what I learned from each one and how I now avoid repeating my mistakes.
Are you happy with how much your clients are paying you? If not, perhaps you have been committing one of the Seven Deadly Sins of Pricing:
I’m often asked by my coaching clients what I wish I had known when I launched my business. Of the numerous lessons I learned the hard way, these are the 10 I see as key:
One of the most common concerns I hear from my coaching clients is “my clients are too cost-conscious – they can’t afford my usual hourly rate.” My response, as uncomfortable as it may be to hear, is that it’s your job to find a client base that doesn’t think twice about how much you cost. Yes, I know it’s hard to find new clients… but is it really easier to try to get your existing clients to pay you what you want to get paid?
One of the biggest challenges for entrepreneurs is getting the client to say “I do.” Many of us don’t like being turned down, so we wind up not asking a question that runs the risk of eliciting a negative answer. However, you could be the world’s best marketer, a world-class leader at what you do, and skilled at eliciting your clients’ underlying needs, but if you can’t get the client to sign on the dotted line and approve your proposal, you aren’t going to get paid for all those wonderful skills.
