As a small business owner or freelancer, you’ve got a lot on your plate. From handling daily operations and managing clients to creating a marketing plan and keeping track of finances, there’s always something that needs your attention. But, despite all the tasks you have to tackle, there’s one thing that many small business owners and freelancers find particularly challenging:
Talking about money with clients.
This can be like navigating a tightrope to some. On one hand, you want to be confident in your pricing and payment terms, but on the other, you don’t want to come across as pushy or insensitive. But, just like a tightrope walker, with the right balance and a few key tools, you can successfully navigate this delicate conversation.
Find your balance
To start, it’s important to find your balance between being confident and being flexible. This means knowing your worth and being willing to stand by your rates, but also being open to negotiation if necessary.
Bring your safety net
Having a standard contract or agreement in place is like having a safety net when you’re tightrope walking. This will ensure that both you and your client are on the same page when it comes to payment terms and can help to prevent any misunderstandings.
Take small steps
When discussing money, use a conversational tone and avoid using jargon or technical terms. Think of it as taking small, steady steps instead of trying to make a big leap.
Adjust your posture
If your client expresses concern about your rates or payment terms, be willing to listen and adjust your posture as needed. This might mean rethinking your pricing or coming to a compromise, but it’s important to be flexible and responsive to your client’s needs.
Reach the other side
When talking about money, always keep the end goal in mind – helping your client improve their business. Emphasize the value you bring to the table and the benefits they’ll receive by working with you.
Talking about money with clients can be challenging, but with the right balance, tools, and focus, you can cross the tightrope successfully. By finding your balance, having a safety net in place, taking small steps, adjusting your posture, and always focusing on the end goal, you’ll be able to navigate this conversation with ease and keep your business thriving.
Sending an invoice to a client used to make me feel embarrassed and almost apologetic but with a little mindset shift, I was able to adjust this. I hope this helps you to have a more positive attitude towards money and financial management.