Posted on 17 January 2009. Tags: business of consulting, business tips, charge for consulting services, consultant fees, consultant pricing, dc pr expert, dc small business, getting paid as a consultant, how do i set a rate, how do i set my price, how much should i charge, how to negotiate, how to set fees, how to set freelance rates, how to set prices, pr experts, running a business, setting my rate, should i lower my rate, should i raise my rate, small business expert
To say that economically, things are rough around here would be an understatement, and at this point also a cliche. For entrepreneurs, things are tougher than they once were, no question. But that’s not to say that there aren’t still opportunities for marketing and PR professionals to turn a profit.
It’s really tempting to get so excited about the prospect of a new client that you underbid yourself. Not to mention the dynamics of this recession. You might start thinking “Wow, things are really tough right now, and I’m sure they can’t really afford my normal rate. We’re in a recession. Let me lower my fees, so that I can close the deal, just this once…”
But you’re never going to turn a profit if you don’t get paid what you’re worth. And you can’t get paid what you’re worth if you hedge every time someone says they can’t afford you. Furthermore, that will really come back to bite you once this recession is over. Your clients (who didn’t know you were doing them a favor) will think that you’re only worth the peanuts that you charge.
Scenario: You meet with a new client. You absolutely love them. They love you and you’re both giddy about working together. You promise them a proposal/quote for your services and they tell you they’re looking forward to it. You go home, happy and start slaving over the proposal. You painstakingly detail the scope of work and deliverables. You decide how long all of this will take, outline the budget and break down your fees. You submit the proposal and wait. Read the full story
Posted in Build Your Business
Posted on 10 December 2008. Tags: consulting during recession, gauging the economy, marketing consultant dc, marketing experts, marketing jobs, pr consultant dc, pr expert advice, pr experts, publicist dc, recession, small business recession, small business survival, survive recession
Yesterday I spoke with my friend and mentor Karen Alston over at Alston Marketing Group. I knew someone who was looking to do a national marketing campaign and I couldn’t submit a proposal (due to a conflict of interest) but I knew Karen’s firm would be perfect. (See tip # 4) Anyway, she was getting my thoughts before she prepared her proposal, and we began to chat about how things were going in her world.
I love Karen: she is frank and honest and will let you know when things aren’t going so well. She said she can gauge how the overall economy is doing by her phone. If the phone rings, things are okay. If it sits there silently, things are definitely not good.
Not surprising that her phone hadn’t rung in months. But what you may find interesting is that she’s noticed a little bit of an upswing.
Just this week she’s gotten 4 calls to bid on new work.
And she’s apparently not the only one. The Firm Voice just posted an article about 2009 budgets. They’re saying that businesses aren’t arbitrarily cutting PR and Marketing budgets, because those businesses still recognize the value of their PR and Marketing programs. (Someone in our industry must be doing their job!) Business and organizations are however, focusing more on results and added value (see tip # 1). Read the full story
Posted in Build Your Business
