Determine Your Rate And Negotiate Carefully With Unreasonable Clients
Consultants who offer executive assistant or computer services on a virtual basis must know their value and be prepared to gauge their billable rate to meet the circumstances. At some point everyone encounters potential clients who expect professional work at rates that are less than appropriate. For example, a posting advertises an opportunity that matches your highly polished skill set. After making contact with the client you find they don't want to pay a reasonable fee for the services they expect. While these types of engagements might help to build a newcomer's portfolio or pay some bills when money is tight, a successful virtual service provider knows their value and refuses to be exploited. Make sure clients understands your training, background and areas of expertise. Then, set expectations for services by pricing in accordance with your qualifications and skills. Be prepared to be flexible, yet firm in your compensation requirements. ? Determine your base rate in advance of client discussions. Scratch it out on paper or create a spreadsheet. Take into account the fixed overhead and variable costs to legally operate your business ? Determine your flex-rates for times you might be willing to work for slightly less or feel the need to demand more pay. ? Calculate the value added for meeting tight time constraints, the demanding nature of the client or the complexity of the project ? Take the time to project costs not otherwise considered in your base rate (long distance, printing, etc.) A pre-determined rate scale helps you respond calmly and logically to stressful situations, so you can advert potential disasters. Last year I turned down what seemed on paper to be an ideal "personal assistant" opportunity. The ad described duties such as checking email and preparing responses on the client's behalf. Work assignments would be completed by phone and fax for a client who did not want to use a computer. The job matched my skill set, but I chose to pass because: 1. The offered rate was 50% less than the low end of my base rate range. 2. The client expected me to own and pay for the operation of a fax machine, but was unwilling to pay for its purchase or operation. 3. The client expected a commitment to work for him part-time, even though hours were going to be determined by him each week 4. The client's refusal to even consider using a computer was destined to create confusion and conflict over what I prepared on his behalf Regrettably, I realized this potential client was a fussy, technology laggard who wanted a very experienced, highly reliable personal assistant who was agreeable to an entry level rate. Know when to "pass" on a client so you can continue to market to more viable prospects. Try to negotiate a better rate with clients by matching their expectations with your level of service. Keep an eye out for performance bonuses or other types of perks to balance out discounted rates for good clients. Elisa Shostak is the founder of Compass Rose Strategic Consulting LLC, an advisory service and secondary research firm based in Seattle, Washington. This is the first in a series of articles about negotiating with clients and managing a management consulting practice. Elisa can be contacted through her website: http://www.compassrosellc.com or blog http://www.compassrosestrategic.com
Related News
Newcastle takeover negotiation on Monday - NDTV.com
Newcastle takeover negotiation on MondayNDTV.com, India -4 hours agoReports said Ambani's representatives will start negotiations tomorrow with the Premier League club owner Mike Ashley, who has been in the centre of hate by ... |
• Saucon teachers set to strike - The Express Times - LehighValleyLive.com
• Saucon teachers set to strikeThe Express Times - LehighValleyLive.com, PA -9 hours agoSince then, negotiations got stuck on salary and health benefits, both sides said. No negotiation sessions are planned. But the teachers hoped early notice ... |
MILF says DDR is okay, but… - Inquirer.net
Thornburg needs more negotiation time - Bizjournals.com
Thornburg needs more negotiation timeBizjournals.com, NC -Sep 3, 2008Thornburg Mortgage has once again extended the deadline of its preferred stock tender offer as it continues to try to nail down the details of a bailout ... |
Negotiation strategies help boost leverage - Arizona Republic
Negotiation strategies help boost leverageArizona Republic, AZ -Sep 3, 20084, 2008 12:00 AM My name is Marty Latz, and I am the founder of Latz Negotiation Institute, a national negotiation training and consulting company, ... |
Negotiations: Egyptian revelations - Milwaukee Small Business Times
Negotiations: Egyptian revelationsMilwaukee Small Business Times, WI -Sep 5, 2008Whether you visit Cairo’s Khan el-Kahlili bazaar, founded in 1382, or a small port bazaar, expect your negotiation skills to be tested. ... |
NITEL: NCP invites BNP Paribas for negotiation - The Punch
NITEL: NCP invites BNP Paribas for negotiationThe Punch, Nigeria -Sep 1, 2008By Everest Amaefule The Technical Committee of the National Council on Privatisation has invited BNP Paribas Consortium for negotiations on modalities for ... |
No room for US negotiation: CNMI Governor - Radio Australia
Mediation team to meet on Monday - Nation Multimedia
Culpepper retires - The Gazette (Montreal)
Culpepper retiresThe Gazette (Montreal), Canada -Sep 4, 2008What you're probably unaware of was that, until recently, Culpepper was on the Alouettes' negotiation list, giving Montreal exclusive CFL rights on him ... |
|
|
 |
|
|
RELATED ARTICLES
National and Cultural Negotiation Style
Cultural and national negotiation styles reflect communication behaviors and the priorities of that culture. Priorities such as trust, teamwork, non-confrontational situations, and openness are all along a sliding scale with each culture. The communication behaviors of each culture reflect these priorities and can dictate how a culture will engage in negotiations. Often, Japanese and other Asian negotiators will plan a social event and dinner before any real negotiations occur. Likewise, Americans place an emphasis on taking clients out to dinner and a round of golf. Engaging in this type of activity builds trust and opens the line of communication between the two parties. Using persuasive techniques to "connect" with another person can lead to trust and the sense of a relationship being built. The negotiation styles of these two cultures mesh well, thus allowing them to understand the priorities of each other's culture.
Negotiate to Your Advantage
The hardest and most important part of any negotiation is knowing when to walk away.
Dont Be Afraid Of Silence
In any conversation with two or more people, there is a tendency to want to talk all the time to fill any awkward silences or gaps that appear in a conversation.
Do You Want a Paycheck or a Passion? 10 Qualities Managers are Looking for in Hiring You
Based upon my research of over 300 managers in the last two years, I have found what qualities are most important to hiring managers.
Avoiding and Accomodating in Negotiation
The avoiding approach to negotiating is characterized by losing, leaving, and withdrawing. No commitments are made, and behavior is impersonal. Use this approach when you would get hurt by staying or when you want to change the ground rules. It is useful when issues are trivial and is helpful when the other side has much greater power. Its disadvantage is that the problem is left unresolved, and this can result in nothing getting done if too many problems are swept under the rug. In the avoiding approach, at least one of the parties displays a subtle reluctance or unwillingness to resolve the issues. This approach is of little use for those working with organizations as it strains relationships and prevents the building of trust between the parties involved. Using this approach can also increase the other party's resistance to negotiation.
The Most Powerful Persuasion Skill Youll Ever Learn
Criteria Elicitation
Business: Keys To Negotiating Well
Whether it's buying a car, asking for a pay rise, saying 'no' to a friend or renting an apartment - at some stage in our lives we all are going to need to know how to negotiate. Yet, so few of us know the basic skills before embarking on life changing purchases or decisions! These 8 keys will assist you negotiate well.
Negotiation: A Compromising Position
Negotiating is a hot topic these days for a good reason. It is difficult to imagine a more vital managerial skill than the skill of negotiating. Effective managers must be superior negotiators. Without solid negotiating abilities, managers will inevitably make serious mistakes in dealing with people at all levels, both inside and outside their organizations. As negotiators, managers must concern themselves with substantive issues and their continuing relationships with people. If they push too much, they may create hard feelings and a desire to exact revenge. If they are overly concerned about getting along with others, they may lose in many substantive areas, thereby negatively impacting upon their department and their organization.
What Are The Four Types Of Negotiating Outcomes?
Negotiating outcomes are the types of results that can happen at the end of a negotiation. All negotiations end up with one out of four possible outcomes: one party wins and the other loses, both parties lose, they get stuck in a stalemate, or both end up winning. Obviously, the goal in a cooperative negotiation is for both parties to walk away with their needs being satisfied. Familiarize yourself with the four different negotiating outcomes and make it your goal to aim for a mutually-beneficial outcome.
Where to FIND the BEST Employees --
Obviously, you might logically say, "that is good!" You would most certainly be on track feeling good about everyone in your area having a job. Getting everyone working and being more self-sufficient is our logical goal.
Negotiations: The Art, Science, & Sport of Online Deals
Negotiations can seem as complex as physics, and in fact, people go to college to study the science of negotiating just as they would the laws of nature. At the same time, negotiation is like an ancient art form, some sort of Zen mental jujitsu. When neither the Zen nor the science works, though, no one wins.
The Ultimate Truth in Persuasion
OK, so you want to improve your persuasion power right?
Managing the Sales Negotiation Process
How many times have you heard:
Ask for More - You May Get More
If you are involved with sales, how do you feel when you hear phrases such as, "Can you do anything about your price?" or, "You'll have to do better than that." and variations on these? Does a cloud or two cross the sun? You start to think, "here we go again?.." ? yet, have you prepared for this situation?
30 Tips for Keeping Meeting Expenses to a Minimum
Money makes the world go 'round. And when it comes to meeting planning, money can probably get you whatever you want. However, few event planners have the luxury of an unlimited budget. Your boss may like to drink champagne on a beer budget. In other words, caution you to spend less, but expect miracles at the same time.
How To Make An Inflexible Bureaucrat See You As A Person
Inflexible Bureaucrats Are Characterized by:
Making the Deal: Women as Negotiators
Negotiating is no game. It is not for the weak or the fragile. It takes assertiveness and someone who feels comfortable in the mano-a-mano world of business. Can women negotiate the deal as well as their male counterparts? Absolutely! In some cases, they may even do a better job. Women have a definite edge at the negotiating table because of their instincts and natural power of persuasion.
7 Tips for Bartering Products and Services
What better way to gain a new customer than by getting something you need in return? The following are tips to help you use bartering correctly, and make it a good experience for both you and who you are bartering with.
How to Change Somebody?s Mind
Believe me, it's not easy! And sometimes, it doesn't work at all.
Determine Your Rate And Negotiate Carefully With Unreasonable Clients
Consultants who offer executive assistant or computer services on a virtual basis must know their value and be prepared to gauge their billable rate to meet the circumstances.
|
