What’s the big deal about money?

From what I hear from creative professionals I talk to every day, the biggest money problem is broaching the subject in the first place. So many people call me and say, “I should have talked about money, I just didn’t … and now we’re halfway through the project.” Waiting to talk about money is a recipe for a mess. It’s like driving over a bridge while it’s under construction. Please stop doing it! (And please explain to me in the comments why it’s so hard.)

As the creative professional, it’s your job to bring up money. When you talk about money—right away—you’re better able to provide what your client wants. In my recent webinar for PhotoSheleter, I shared strategies for “Talking Money with Clients for the First Time.” (Watch it for free!) My tips include:

• Move out of your comfort zone – stretch yourself
• Talk general price ranges right off the bat
• Talk on the phone when a prospective client inquires about price.
• Get specific about pricing before you draft a proposal

Think of yourself as an ambassador. By handling the money issue directly, professionally and honestly, your client will be more comfortable and have more respect for you as a business person.

And if you’re hesitant to bring up money, please tell me what’s stopping you.

Comments

[Cheryl]

I think the reluctance to bring up money has a lot to do with issues of confidence in yourself as a professional. Many of my clients are people I've known personally first for many years and it can feel awkward to add a professional dimension to the relationship. At the same time, one of the reasons they have chosen to become clients is because they know me and can count on me to treat them fairly. As freelancers, we have to trust that if this project doesn't work out, another one will come along.

[Steve Buchanan]

Because money is why we lose gigs. Sure - I occasionally don't get the gig because I'm not good enough, or sometimes not fast enough - but I lose gigs all the time because I'm not cheap enough. I'm ok with that BTW - but I like to talk about things that get me jobs, not lose them. But you're right, we need to talk more openly about what things cost and how their prices. I think a lot of clients have this notion that we arrive at our pricing in a very arbitrary way.

[Jean]

I bring up money early but often have a hard time with long ago clients who return now. They think they should pay the same fee as they did six years ago. Somehow they think that is what it costs to hire me. Not only have my costs for almost everything increased, I now have more experience, which makes me more valuable. The negotiation typically increases their offer a bit but not to the level I prefer. When I'm too busy, I say "sorry" and turn down the work, but those times are rare.