How to talk money

By Justine Clay


Let’s face it, talking money can be hard – but it really doesn’t have to be.  The anticipation is always much worse than the reality and the more you do it, the easier it gets.   Speaking from the persepctive of someone who used to be terrifed and now negotiates like it ‘aint no thing, I thought I’d share some tips that I’ve learned along the way :

1) Know the difference between negotiation and winning.  Negotiation is about finding the middle ground where both parties feel comfortable with the compensation/service they are getting.  Winning is about beating the other person.

2) Schedule a time to talk to the client about fees.  If your client is expecting to have that conversation you’re less likely to catch them during an ‘off’ moment when they might be less receptive
3) Put yourself in the client’s shoes. By understanding your client’s needs, you’ll be better equipped to anticipate them and respond accordingly.

4) Have an outcome in mind.  Know the fee that you’d like to get and be prepared to explain how you reached that figure

5) Be prepared to negotiate. And know low you’re willing to go.

6) Don’t allow yourself to be bullied

7) Don’t be defensive

8) Don’t feel obliged to give an answer on the spot.  It’s perfectly acceptable to say you’ll get back to someone

9) Don’t apologize

10) Remember that it’s not personal, it’s business