Clients will often want to negotiate your rates. It makes sense, and often you might be inclined to negotiate with them to try to help land the deal. But if this the right choice?
According to the article below, oftentimes no. Often, even clients who ask for a small price decrease will be willing to pay your standard rates if you refuse to lower. And many of the ones who won’t aren’t clients you want to be working with to begin with. The article below goes into more detail, so be sure to give it a read if you want to keep your profits high.
“Everything is negotiable. Whether or not the negotiation is easy is another thing.”
The problem with selling time is that the buyer knows margins are high.
When I ran my consultancy, I was constantly pressured to negotiate down our rates. Our formula was pretty simple: We had a client rate, and then we had what I paid my staff. The difference is what paid me, our non-billable staff, outfitted our office, and whatever was left was profit.
Read full article: Never Negotiate Your Freelance Rate