Saw this YouTube video originally in Alan Weiss’ mentor program, and it reminded me of how often prospective buyers (worst yet – non buyers) ask “Can you do that speech for less?” or “Think of the exposure you’ll get…”
What’s the value of a single idea? How about years of research, perfecting a speech, nurturing a talent, developing the skills and honing a craft to frame complex consulting best practices? How about raising the bar on the abilities of your top talent?
How do you respond when clients ask you to reduce your fee?
David:
This was PERFECT…Alan Weiss’ wry sense of humor and irony are evident. I hope to use this in the future when a client asks for that lower price.
It’s bad enough in a strong economy, but now it seems everyone is coming at us for reduced consulting fees, speaking fees and all the rest. Yes, we DO know that the economy is bad…it’s bad for us too, but we are trying to get out there and help as many people weather the turbulence as we can, but don’t expect us to work for minimum wage or for free. We’re beyond needing ‘exposure’ through pro bono work. And, when we decide to do something pro bono, it will be for someone or a group that we believe in.
Thanks for sharing this. It is SO on the mark!!
This is so apropos for me today. I’ve only been in business a little over a year & haven’t learned all the tricks people throw one’s way to get it for free or for less. It just amazes me what people do. I’m too honest, I can’t pull that stuff on people.
David:
This is a real sales dilemma in this economy. Each of us must decide when to say no. We can explore bartering, but “Free” doesn’t pay the bills.
If a company asks me to adjust my fee, I will always get something of value to me in return–copies of my No More Cold Calling book, taping my sales presentation, printing all handouts, and of course, agreeing to refer me.
Two resources for negotiation strategies are Bob Gibson http://www.negotiationresources.com/ or Michael Soon Lee http://www.blackbeltnegotiating.com/
HAHA! I just went through this with an incredibly rich celebrity! His event planner actually yelled at me because of my fee. When I told him I was sorry I wouldn’t fit into his budget he replied, “Don’t you want to make a counter offer?” He never said what he wanted to pay. A counter offer to what? I gave you my fee and you want me to negotiate with myself? Unbelievable. In Hollywood, no is probably the most powerful word to get respect. Great video and perfect timing considering what this event planner did to me.