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Getting Paid What You're Worth

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Mary Ellen gives info-entrepreneurs three simple steps for painlessly negotiating for the budget you want. This presentation was given at AIIP Annual Conference on April 5, 2013 in Denver, CO. …

Mary Ellen gives info-entrepreneurs three simple steps for painlessly negotiating for the budget you want. This presentation was given at AIIP Annual Conference on April 5, 2013 in Denver, CO.

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  • 1. Getting Paid WhatGetting Paid What You're Worth: Painless Negotiation Skills Mary Ellen Bates BatesInfo.com April 5, 2013 AIIP Conference
  • 2. Tweeting this? @ b@mebs #AIIP13#AIIP13 Slide deck @ BatesInfo.com/extras 2 BatesInfo.com
  • 3. “It all seems so simple whent all see s so s ple w e you say it like that...”you say it like that... BatesInfo.com 3
  • 4. 4 BatesInfo.com
  • 5. 1. Position yourself as high. os t o you sel as g valuevalue BatesInfo.com 5
  • 6. Chasing vs. attracting clients If you chase them you have toIf you chase them, you have to prove yourself. If you attract them they come toIf you attract them, they come to you pre-sold. BatesInfo.com 6
  • 7. What do you offer? Saving time or money ≠ valueSaving time or money ≠ value Offering "value" ≠ cheapg p $$$Value = increase client's $$$, achieve client's goals, enableg , action BatesInfo.com 7
  • 8. It's WE, not I Are you an ally or an adversary?Are you an ally or an adversary? This is a partnershipp p "I want to make sure you get what you want"want Negotiation is not a zero-sum game BatesInfo.com 8
  • 9. How much are you worth? BatesInfo.com/store 9
  • 10. What’s your hourly rate? “I like being free to work without“I like being free to work without counting the hours.” Address the underlying question:Address the underlying question: How much will this cost? BatesInfo.com 10
  • 11. What do you charge? “My projects run from $800 to $85K, and average between $2K$85K, and average between $2K and $10K” I avoid product pricingavo d p oduct p c g BatesInfo.com 11
  • 12. 2. Use proposals wisely. Use p oposals w sely BatesInfo.com 12
  • 13. What is a proposal? What you send when someoneWhat you send when someone wants to know your prices? Proposals are not marketing Proposals describe how you willProposals describe how you will solve a specific problem BatesInfo.com 13
  • 14. We’re thinking of getting some CI k d t i t C ldwork done at some point. Could you send me a proposal? Wh t’ it lik ki ith ?What’s it like working with you? Not the time for a proposal BatesInfo.com 14
  • 15. What’s it like working with you? Can you lead the conversation?Can you lead the conversation? Are you pleasant to deal with?y p Are you on my side? “Here’s how it usually works”Here s how it usually works BatesInfo.com 15
  • 16. What is a proposal? What you already know is the bestWhat you already know is the best answer to your client’s problems At the end of conversation not toAt the end of conversation, not to start one BatesInfo.com 16
  • 17. Proposals cinch the sale “As we discussed ”“As we discussed, ...” Talk about results and value, not processprocess BatesInfo.com 17
  • 18. No deli pricingNo deli-pricing Phase 1, 2, 3 instead, , Sample at BatesInfo.com/extras BatesInfo.com 18
  • 19. WHEN to talk about budget During client interviewDuring client interview Broad range only You have to bring it up D ’t i b th hDon’t give a number on the phone BatesInfo.com 19
  • 20. HOW to talk about budget EmailEmail You cannot negotiate in email* O th h R ll E tiOn the phone. Really. Every time. BatesInfo.com 20
  • 21. HOW to talk about budget In phone conversation learn:In phone conversation, learn: What the client wants What the client will do with it How much is at riskHow much is at risk How important is this What else you can offer BatesInfo.com 21
  • 22. How to find out the budget “Can you tell me what your budget“Can you tell me what your budget is?” “What’s your budget for this?” “Roughly how much do you want to“Roughly how much do you want to throw at this?” “Do you have in mind more like $5K or $75K?”or $75K? BatesInfo.com 22
  • 23. How to find out the budget {Is this a toaster or an elephant?}{Is this a toaster or an elephant?} If they can’t tell you a range, they don’t understand the projectdon’t understand the project BatesInfo.com 23
  • 24. 3. "No" means "Give me a3. No ea s G ve e a reason to say yes"reason to say yes BatesInfo.com 24
  • 25. When the budget sounds too high You backtrackYou backtrack You decide you could really do ity y for half that price You ask for the objectionsYou ask for the objections How can you add more value toy your proposal? BatesInfo.com 25
  • 26. When the budget sounds too high Most people’s response is to cutMost people’s response is to cut How can you EARN that amount?y How can you offer double the value (not double the work)?(not double the work)? BatesInfo.com 26
  • 27. Be willing to walk away Know what your bottom line isKnow what your bottom line is Never invest more than you cany leave on the table Focus on valueFocus on value BatesInfo.com 27
  • 28. Never blow off a client They may not have the budget nowThey may not have the budget now but... They may change departments They may change employersThey may change employers They may get more budget later for th j banother job BatesInfo.com 28
  • 29. It's business, not personal You are your own best advocateYou are your own best advocate You still get referrals from clients who say nowho say no. BatesInfo.com 29
  • 30. Reach me at +1 303 772 7095 mbates@BatesInfo.com B t I f / hi gBatesInfo.com/coaching Twitter: @mebs@ Watch my podcasts at BatesInfo com/meb123BatesInfo.com/meb123 30