Ever sent a quote or proposal to a potential client, immediately followed by worry that you priced it too high? (even though you probably didn’t — you actually might’ve undercut yourself a bit). A day or two goes by and you don’t hear back, so now you start to get nervous…
The first thing you consider is following up with a lower price. But here’s a tactic to consider—STAND FIRM.
If it hasn’t been a considerably long wait, the client could be getting approvals from team members, rallying the troops on your behalf, or drafting up an agreement for you. But imagine making the assumption that their brief silence is about price, so you lower your standards and resend a quote that you think will appease them. Now they have red flags about you and the value of your work, or, they accept the lower offer (why wouldn’t they?).
If you are looking to raise your price point and level of clientele, at some point you will have to prove your value up front and stand firm on your price. That means you might win some and you might lose some, but the ones you win will be the caliber of client you desire. Of course, you would need to discern which situations warrant more flexibility and what clients/opportunities are worth bending for.
Are you willing to stand firm and work more diligently on proving your value versus lowering your prices?
Ask yourself these questions: What do I really want? What type of clientele do I strive for? What type of income do I need to survive? What type of income do I desire to thrive? What must I do to make this change a reality? What will I need to say “no” to and what warrants a “yes”? What temporary discomfort must I face in order to create a long term strategy worth enduring? Do I value my work, my time, my experience, my efforts, my insights—my unique position?
Once you can answer these questions with confidence, move forward with intention—the intention to deliver high-value solutions to your clients, to learn, to seek continuous growth, and to command prices that you (and your team, if applicable) deserve. Stand firm. Those who value you and your work will stand with you.