I’m not a big fan of negotiating. I know that sounds weird if you know me, and as someone in sales. And, I LOVE a good deal. But in business, I’m not a fan of negotiating or discounting rates. Your rate is what you have decided you’re worth. And, your clients are paying you for that, so it’s proven that your rate is valid. But negotiating your rate makes it look like you don’t think you are worth what you say you are.
I recently raised my rates, and instead of negotiating or putting clients on a sliding scale, as their contract came up, I simply said:
“I’ve recently reviewed my rates and found you’re getting a great deal! I have looked at what others in my industry are charging and have increased my rate to $XXX, when we setup your next Statement of Work, it will be at this rate.”
No room to negotiate. Have a lost clients? One. And the next day I talked to a new client who didn’t flinch at the rate. I also had a client email me and say he’s not leaving unless I fire him. I want clients who want to work with me, and have the budget to do so. I don’t want clients who will stress out every time my invoice shows up in their inbox. I’ll gladly negotiate the work we do and the hours of work that happen, but you have to pay me what I’m worth.