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- Serenading Uncle Roy
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The great rate debate is still going strong.
I’ve been writing about the erosion of voice-over rates for years, and every day, clients and colleagues are arguing privately and publicly about the value of our voices.
One thing is certain: that value keeps going down. Talk is getting cheaper and cheaper.
What’s going on?
Let’s begin with our clients. It’s so easy to blame clients for this downward trend, because they’re the ones paying us. However, I think it’s time to cut them some slack. So many of them are small players in a big, international market. Because that market is unregulated, and there are no universal prices, they have a hard time figuring out how much they can expect to pay for our services. That’s not really their fault.
A majority of voice-overs do not list their rates, hoping clients will contact them and ask for a quote. Those quotes may differ greatly because we need to take so many variables into account, and frankly, many of us don’t always know what to charge. Go to a VO Facebook group on any given day, and you’ll find someone asking for advice on price.
TURNING A PROFIT
Because I run my own business, I completely understand that my clients want to keep their costs low, and their revenue up. If you can get great service at a great price, why pay a penny more? I also understand that there’s a link between what you pay and what you get, no matter what industry you’re in. It’s foolish to expect top quality at a bargain-basement price, unless you’re benefitting from a liquidation sale.
These days, everyone’s online, and that complicates matters. It may seem that we’re all operating on a level playing field (the world wide web), which is not the case. It is anything but level, but try explaining that to an imaginary photographer in Latvia, who needs a few English voices for a website he’s launching. He’s offering $20 for 5 minutes of VO, which he believes is perfectly reasonable because he’s hired local talent at that price. He wants to know:
Why should I pay $250 for a 5-minute voice-over, if Olga in Riga is willing to do it for $20?
I told him: “Your job posting tells me that you’re looking for voice-overs with an authentic British accent. If Olga can pull that off, why not hire her? The reason you’re posting your job overseas is that ’20-dollar Olga’ has no idea what she’s doing. Her accent is clearly from Latvia, and not from London. And because it’s cold in the Baltics, she’s probably using a Snowball microphone, guaranteed to give that crap amateur sound the Fiverr crowd is so proud of. You pay for professionalism, or lack thereof.”
The photographer responds:
I understand that it might be hard for me to find a native British voice-over in my neck of the woods, but that still doesn’t explain the huge difference in rates. $250 for five minutes? I think people are just greedy.
I said: “Location makes a big difference. Let me give you an example. Why does a Big Mac cost $7.80 in Norway, and only $1.62 in India? Why doesn’t McDonalds charge the same price for the same product, regardless of the location? Because the price of a Big Mac is a reflection of its local production and delivery cost, the cost of advertising, and what the local market will bear.
The cost of living is much higher in Norway, and consequently, people make more. According to the CIA, the 2016 per capita income in Norway was $69,300 and in India it was $6,700. If I were a Norwegian voice-over artist and I would charge Indian prices, I wouldn’t be able to make a living. That has nothing to do with greed.
As a freelancer, you have to price for profit wherever you’re located, because that’s where you’re buying your Big Mac. It’s where you pay your bills, and your taxes. That’s why a UK talent charges more than someone in Latvia, or in India.
ONGOING ADDED VALUE
And let’s remember that a voice-over is not some hamburger you order at the drive-through. Every Big Mac should pretty much taste the same, no matter where you order it. It’s generic. Once it has been consumed, it has served its purpose.
Every voice is unique, and every voice-over artist brings special talents and experience to the table. Once recorded, that commercial, trailer, or eLearning course can be played again and again, adding value every time someone’s listening. That’s worth something.
Last but not least, just because you’re paying $250, doesn’t mean the voice-over always gets $250. Some online casting companies like Canada-based voices dot com, pocket a considerable amount without telling you or the talent. If you want to talk about greed, talk about that!”
THE TROUBLE WITH COLLEAGUES
The Latvian photographer still doesn’t understand why he can’t hire a UK talent for $20. However, in my experience it’s much easier to talk sense into some clients, than to reason with certain colleagues (and I use the term colleagues loosely, because they’re acting anything but collegial). Most of my clients know how to run a for-profit business, but so many ‘colleagues’ seem to be clueless. They don’t know the difference between “selling,” and “selling out.”
Every time the issue of reasonable rates comes up, there are always voices saying:
“Who are you to tell me what I should charge? It’s a free country, and I can charge whatever I want!”
Yes, and I can sell my Subaru Outback any time for $300, but does that make any sense whatsoever? Why should I settle for a handout if the market value of my car is at least $3,000? How stupid do I have to be to practically give my car away to the lowest bidder?
By the way, this whole free country argument is a load of bull, used by imbeciles to defend all kinds of idiotic practices. Here’s the thing:
Just because you can, doesn’t mean you must, or that it’s wise.
“But who cares if I sell my voice for five bucks? Mind your own business! I’m not telling you what to charge. My bottom line doesn’t affect yours.”
Is that really so? What would happen if half of all car owners would decide to sell their vehicles way below value? Tell me that has zero impact on the used car market!
If what’s happening at the bottom of the VO-market does not affect the rest, why aren’t voice-over fees at least keeping up with the rate of inflation? Why are rates across the board in a steady decline?
WE NEED EACH OTHER
In the grand scheme of things you may feel insignificant, and believe that your choices only influence your bottom line. But hundreds of these individual choices send a message, and thousands create a trend clever clients have picked up on.
To put it differently: if you really believe that one, individual decision has no impact on the overall outcome, then there’s no reason to live in a democracy. You might as well move to North-Korea. But since you’re still here, and (I hope) you vote, you must believe that you can make a difference.
Your choice of what to charge makes a difference. It impacts our professional community, and the families that depend on it.
You can either cheapen our profession and our community, or enrich it. You can build it up, or tear it down.
You can price like a predator, or like a professional.
Or are you afraid to charge a decent rate? Are you afraid the client will reject you?
Are you not convinced that what you have to offer can command a fair price?
If that’s the case, here’s a suggestion: perhaps you should find another job.
A certain Pay to Play call center in Canada might be hiring very soon.
Paul Strikwerda ©nethervoice
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PPS Below you’ll find links to some of the other articles I’ve written about rates and pricing
His client was expecting him within the hour, and he was all dressed up but couldn’t go anywhere.
This was the account he had been grooming for months, and today was D-Day: Deal or No Deal. Snow or no snow. He had to get out of that airport.
“This is the worst snow storm we’ve seen in decades,” said the dispatcher. “No cab driver is going to go anywhere today. I’m afraid you’re on your own.” Max headed out anyway. Perhaps he could hitch a ride with one of the other passengers that was being picked up by brave friends or family members.
As the snow was coming down, visibility was at a minimum. All flights were canceled until further notice. Just as Max was about to head back inside, a black SUV came out of nowhere, and stopped at the pick-up spot. The driver rolled the window down:
“Need a ride?”
“How did you know?” said Max, as he hopped in. “I have to get to my presentation. Are you here to pick somebody up?”
“No one in particular,” said the driver. “But I’d be happy to take you.”
“Well, that’s awfully nice of you,” said Max. “Thank G-d for Good Samaritans.”
“Dream on,” said the driver. “It’s going to be one hundred dollars. Cash only.”
“You must be joking,” replied Max. “They said a cab would cost me no more than ten.”
“Well, why don’t you get a cab then?” asked the driver. “I’ll go and rescue some other grey suit in a hurry.”
“I’ll offer you 50,” tried Max.”
“Listen,” said the driver. “You look like a smart businessman. You and I, we don’t run charities. We’re both entrepreneurs. We see an opportunity. We jump on it. We take risks. Today I am risking my life and my car just so you can get to your meeting. That must be worth something, don’t you think?
“How about 60?”
“You don’t get it, do you?” said the driver. “My economics teacher taught me: ‘When something is scarce, it becomes more valuable.’ You have a major problem. I am offering you a solution. No one else will. If you want to stay, you’ve got to pay.”
“Think of it this way,” sighed the driver. “This meeting you want me to take you to, must be important, right? Otherwise, why bother? Is there a lot of money at stake?”
“You got that right,” answered Max impatiently. “I’ve got one shot to seal a deal.”
“Well,” said the driver, “It’s none of my business, but what’s 100 bucks compared to the money you’ll bring in after that contract is signed?”
“Alright,” said Max as he took out the cash. “I get it. Now, drive!”
While the SUV was battling the elements, Max looked at his chauffeur and said: “I gotta give it to you, man. You know what you’re worth, and you’re not afraid to ask for it.“
Some ten years ago, when Max started his freelance business, he had had such a hard time putting a price on the service he was providing. To help him focus, his startup coach had asked him a couple of simple questions:
- Do you consider yourself to be a pro?
- Do you want to run a for-profit business?
- Do you want that business to grow?
- What are the costs of running that business?
- What’s your break-even point?
- How much do you want to make?
In the past, Max had always treated his services as a hobby. That’s exactly what it was. There was no plan. No purpose. Just a passion. He spent hours and hours helping people and never worried about what to charge. That is, until he lost his day job, his benefits, and his security. Perhaps this was an opportunity to turn his hobby into a real business. That’s when things got serious and complicated.
“Here’s the good news,” smiled his coach. “You’ve got clients, don’t you? I mean, you’ve been helping friends all along. If you want to turn your hobby into a genuine profession, why not start close to home. You obviously offer something people want. You already have a market… Go for it!”
“Here’s the problem,” said Max. “I never really charged my friends anything. Most of them gave me pizza and a six-pack. I can already hear them say:
Why would we ever pay you if we can get you for free?”
“Good point,” admitted the coach, and he went on: “My brother is a computer geek and he’s crazy about technology. But if he would do every single friend ‘a favor,’ he’d be fixing broken laptops all day and night and not make any money. Free pizza does not pay the mortgage. Besides, I don’t think he’d make the guys happy who repair computers for a living.
Now, I’m not saying that it’s not okay to help out a friend in need, but as soon as people found out that my brother knew how to fix a computer, everybody wanted to be ‘friends’ with him. He had to draw a clear line between real friends and those who were well below the rank of Facebook buddies. That’s what you have to do too, Max. No more giveaways. From now on, you run a business; not a charity.
One of your jobs as an entrepreneur is to manage your client’s expectations. Let me give you an example. If you take on a project you know you can easily do in two days, tell your client you can get it done in three. Guess who’s going to look good when you hand it in 48 hours later?
That way you not only create the expectation that you can beat a deadline. You’re also showing your client that she’s a top priority, and that you really know your stuff. Meanwhile, you’ve allowed yourself an extra day should anything unexpected come up. Does that make sense?
Pricing is one of the most important tools for managing your client’s expectations, as well as your bottom line. Your price point sends a clear signal to your market:
This is what I am worth.
Like it or not, there is a clear link between perceived quality and price. Otherwise, every wine connoisseur would drink Beaujolais out of a box, and Pottery Barn would be out of business.
Remember this: Your fee structure will help you attract the kind of customers you want to be working with, and the type of jobs you are shooting for. At the same time it will weed out the folks that cannot or will not afford you; the ones that are most likely to give you a hard time anyway.
Here’s the deal, though: Your fee must be backed up by experience and expertise on one hand, and by a realistic sense of your value in the market place on the other.
Simply put: Be an expert and do your homework. Don’t just pull a rate out of a hat. That’s lazy and crazy. Find out what the competition is charging. Then ask yourself: “Do I want to charge more, less, or the same?”
“I can’t imagine it’s that simple,” said Max.
“It’s not,” answered his coach. “Smart pricing decisions require at least three elements:
- Facts about your own cost of doing business
- The client’s evaluation processes
- Competitive activity
I know you really care about your work, Max. To you, it’s much more than a way to pay the bills. You’re an artist and somehow, some artists (and clients) believe that there’s a clash between creativity and cash. Doing what you love should be enough of a reward.
I don’t think Andy Warhol or Keith Haring would agree with that. Being creative and being commercial can go hand in hand, and since you’re in business to make money, let me give you a simple formula:
Profit = sales volume x price – cost
Have you ever heard of Hermann Simon? He’s a German economics professor and one of the leading experts on pricing. Together with Robert Dolan, he wrote a book called Power pricing: how managing price transforms the bottom line. He calls volume, price, and cost “profit drivers.”
Simon says something very interesting:
“The customer’s willingness to pay is not determined by the costs of a product but by its performance and resulting value to this customer.”
In other words: when people get a haircut, they conveniently forget that they’re also paying for the rent the salon’s forking over every single month, or for the training the staff receives so they can make every teenage boy look like Justin Bieber.
Clients don’t care about your costs.
That’s why you have to figure out the answer to this question: How low can you afford to go? What is your Price Floor?
A Price Floor is a point below which a product or service should not be sold. In the long term, the price must obviously cover the full costs of a product. Otherwise the seller cannot make a profit and will not survive. Volume never makes up for selling below cost.
Every year, tens of thousands of self-employed people file for bankruptcy because they made one big mistake: they followed a dream and forgot to run the numbers. They are what I like to call ‘under-estimators’. Literally.
Knowingly or unknowingly, they started selling below cost in an effort to drive out the competition or even out of ignorance. Some started giving their work away for free, hoping to get exposure and attract business. Last time I checked, my local baker was handing out free samples but never entire cakes. And between you and me: he doesn’t strike me as a marketing genius.”
“Speaking of prices… a friend of mine just bought a brand name watch at a price that was too good to be true,” said Max. “It turned out to be fake.”
“Were you surprised?” asked the coach.
“Not at all,” said Max. “You get what you pay for.”
“That’s right. In part, price is about perception. That’s probably why your friend wanted to buy that Rolex rip-off in the first place.
Professor Simon puts it this way:
“Price is the economic sacrifice a customer makes to acquire a product or a service. The customer always compares this sacrifice with his perception of the product’s value. (…)
“In essence, a customer buys a product or a service only, if its perceived value -measured in money terms- is greater than the price. If selecting from several alternatives, the customer prefers the one offering the highest net value, i.e. the greatest differential of perceived value over price.”
Go to any tattoo parlor and see for yourself how much pain people are willing to suffer in exchange for the pleasure derived from a name, permanently painted in the perforations of their delicate flesh. Years later, they spend a fortune burning out their ex-hubbie’s initials with a laser beam… turning the man in question into an ex-boyfriend, once removed… But I digress. We were talking about perceived value, weren’t we?”
“You’ve mentioned volume, price, and cost,” said Max. “How exactly does the market factor into this? Isn’t a certain price ultimately the result of the interaction between supply and demand? That’s not something I have any influence over, is it?”
“Great point,” smiled his coach. “First off…
* * * * *
THE BLACK SUV slowly made its way through the winter weather.
“Care for some hot cocoa?” asked the driver as he pointed at a thermos.
“Yes please!”said Max.
“And help yourself to a muffin too,” said the driver. “This might take a while.”
“Well, you certainly know how to treat your customers,” remarked Max.
The driver smiled. “Always exceed your client’s expectations. That’s my philosophy.”
“Will you pick me up when I am done?” asked Max.
“Of course,” said the driver.
“I love return business!”
Click here for part 2.
Paul Strikwerda ©nethervoice
PS Be sweet. Please retweet!
You’ve probably heard the story of the priest who preached the same sermon every Sunday.
After a few weeks, some of the parishioners got tired of it and demanded an explanation.
“Do you really want to know why I’m repeating myself at every service?” asked the priest. The crowd nodded.
“I will continue to tell you the same thing over and over again, until you take it to heart and do something with it.
If you don’t change your behavior, I don’t see any reason for me to change my sermon.”
Well, I may be the son of a minister, but as a writer, I can certainly relate to this priest. When it comes to setting rates, I sometimes feel I’m talking to a sea of people with frighteningly short memories and no backbone.
Watch me as I go to my pulpit and address the crowd:
Read the rest of this story in my new book. Click here for the paperback version, and click here for a Kindle download.
Click on the cover to access the website and get a sneak peek.
If we blame the economy for all of our freelance failures, perhaps it’s only fair that we should credit the economy for all of our successes. After all: we’re hopelessly helpless.
It’s the economy, stupid!
In 2000, Cleanthi Peters sued Universal Studios for $15,000. Cleanthi claimed to have suffered “extreme fear, mental anguish, and emotional distress” after visiting Universal Studios’ Halloween Horror Nights haunted house. She said it was too scary.
My European friend Philippe is eager to bring these type of examples up whenever he tells me that Americans live in a country of finger-pointers. I agree.
If we get lung cancer from smoking, we blame the tobacco industry. If we slip on a wet surface, it is the cleaning lady’s fault. If we burn our lips on a cup of fresh WaWa-Java, we sue the company that forgot to print a warning.
Heaven forbid we should take some credit for our own actions. Why should we? Blaming someone else could bring in big bucks!
So, what’s next?
Read the rest of this story in my new eBook. Click on the cover to access the website and get a sneak peek. Use the buttons to buy the book.
Is your freelance business going down the drain?
Are you sick and tired of rejection?
Have you had enough of wasting your time on auditions, bids and proposals that never lead to anything?
Perhaps it is time to make frustration your friend. Be sure to add a strong dose of disgust to the mix. According to success strategist Jim Rohn, disgust is one of the four emotions that can lead to life change. Rohn:
“The person who feels disgusted has reached a point of no return. He or she is ready to throw down the gauntlet at life and say, “I’ve had it!”
Once your frustration has reached a boiling point, it is time to make up your mind. Are you throwing in the towel, or are you going to take massive action and turn your business around? If you pick the last option, the next question is: HOW?
Read the rest of this story in my new book. Click on the cover to access the website and get a sneak peek. Use the buttons to buy the book.
“It will look so good on your resume”
“This might lead to regular work”
“We’re a start-up business”
“It’s such a small project”
“This is an Indie film”
“It will only take a few minutes”
“You’re new and we want to give you a chance”
“Even if you don’t get the job, it’s still great practice”
“You’d be perfect for this… I wish we could afford you”
If you’ve been an active job-seeking member of the voice-over community for… about two weeks, I’m pretty sure these ‘teasers’ have been thrown out at you a few times. They’re getting old quickly, don’t you think? Or are you still falling for them? Be honest!
These days, clients are getting even more efficient by leaving these phrases out. Now it’s just:
“Manhattan-based attorney’s office in need of a male voice for their website. Budget $100.”
Are you kidding me? These attorneys won’t even pick up the phone for 100 bucks. So, why do they expect us to work for a hand-out? Is it perhaps because many of us call ourselves voice-over ARTISTS?
MISCONCEPTION ONE: Artists don’t work. They just enjoy their hobby.
My wife, a professional flutist, had just finished an exhausting wedding gig: a ninety minute Mass followed by a two-hour cocktail party. All in all she had had two breaks: one to rush from the church to the banquet hall, and a ten minute bathroom break during the reception.
When she came back to get a refreshment, some guests looked at her as if she was stealing from the buffet. One of them even walked up to her and whispered: “Aren’t you supposed to be playing?”
At the end of the engagement, the mother of the groom walked her out and said it had been “lovely”. She sighed: “I used to play the flute. It must be wonderful…. being able to play music all day long.”
When my wife discretely asked for the paycheck that should have been handed to her at the beginning of the day, the groom’s mother looked shocked. She said: “Are you telling me you’re actually getting paid for this?”
Some people just don’t get it, do they? Whether we’re musicians, writers, web designers or voice-over artists, the opportunity to do the things we’re passionate about, should be enough, don’t you think? Well, why don’t we ask Alex Rodriguez about that? Perhaps he’d be satisfied with getting the keys to the Big Apple and a fat World Series ring.
MISCONCEPTION TWO: All you need in this profession is a computer, a microphone and an Internet connection, and you’re in voice-over business. Small investment. Huge ROI (and you can even do it in your PJ’s!).
Well, well…haven’t we heard that one before? If it were that easy, tell me who is paying for your:
- hours spent finding work
- continued education
- sick days
- paid holidays
- union dues
- health insurance
- dental insurance
- disability insurance
- life insurance
- business insurance
- invoices that never get paid
- … and all other joys that come with running your own business?
Remember, all of the above (and more) has to come out of that job that you almost accepted for $100. Do you even know how much money you need to make in a year, just to break even? How about in a month? How much per week… per day? That’s just to cover costs. How about making a profit? How about saving a little for a rainy day or for college?
If all of this is a little overwhelming and intimidating, let me reassure you. This does not have to be your life! If you don’t have the drive now, do not waste any more time. If you’re not prepared to run your career as a for-profit business, you still have plenty of options… to name a few:
1. Stop posing as a pro and leave the market place to those who are willing to be professional. Stay an amateur instead. No pressure.
2. Get a ‘regular’ job with benefits
However, should you decide to become a professional solopreneur, start acting like one! Don’t do anything else before you take the next step: figure out what your basic minimum hourly rate must be, based on cost, billable hours, and the profit you’re comfortable with.
Of course it would be a little presumptuous to tell you what to do. Some people just don’t want to spoil their hopes and dreams by facing reality. These are the folks that purchased a house they can’t afford because they thought they could swing it. And now they’re paying for it.
Some people are more comfortable playing the victim or playing the blame-game. Others use excuses such as: “I was never any good with numbers”.
Sorry, but I’m not buying it!
If you’re not a numbers person, ask a friend to help you out; find a mentor, hire a pro… There are business coaches out there who’d love to have your voice on their AVR in exchange for their advice. It’s often better to have an impartial opinion from someone who is not in love with your dream. Have a business lunch with them, and bring your calculator and a note pad.
Third, make a small investment and get “The Money Book for Freelancers, Part-Timers, and the Self-Employed“ by Joseph D’Agnese and Denise Kiernan. This was the first book about money matters that I actually enjoyed reading. It felt like I was getting advice from friends who knew exactly what situation I was in. Joe and Denise offer very practical, down-to-earth strategies in a language anyone can understand, and they’re actually very funny too!
So…. next time a voice-seeker holds up one of those carrots I started this article with, imagine yourself walking into a restaurant and telling the waiter:
“I can’t really pay you full-price, but if your food is any good, I’ll be sure to spread the word.”
Please let me know how that worked out for you.
And if that did not go over so well, try going into Home Depot, hoping to get 75% off that professional pneumatic drill.
“And why would we do that?” asks the manager.
And then you utter the magic words:
“Well, it’s only for a small project….”
And finally, would you be willing to do me one last favor, please?
Once you’ve figured out your desired and minimum hourly rate, look at that $100 voice-over project again, that you were just considering. You know, the one that “will give you great exposure”.
Now look at your hourly rate again.
PS Many thanks to artist N.C. Winters for giving me permission to republish the comic strips. Find out more about the work of N.C. at the artist’s site and at Freelance Freedom.
At the bank I once worked for as a trainer, they had a saying:
“If it’s about money, it’s never funny”
Ain’t that the truth! To that I added my own adage:
“Show me your bank account, and I’ll tell you how you lead your life”
Bankers and accountants probably know more about you than your therapist. By analyzing the way you spend your money, they can tell whether or not you lead a healthy lifestyle, if you’re a good planner, and if you can resist instant gratification.
On blogs and networking sites, money is a popular theme. People want to know how much to charge, whether or not they should spend $399 on a membership of a particular site, and if it’s OK to discount services… the list is endless.
Recently, I found myself caught up in a discussion about on-line freelance job sites like Upwork and Freelancer.com. These sites can connect you with prospective employers from all over the world, and help you find projects that are not listed on the familiar voice-over casting sites.
However, when I looked at the average bids some of our colleagues put in to get voice-over work, I was stunned. If you think that doing a job for $100 is stretching it, wait until you check out sites like guru.com. Your jaw will drop to your knees, and that’s not a good thing if you’re in the voice-over business.
Some people are justifying this downward trend by pointing at the current economic climate:
“Times are still tough. We all have to tighten our belts and do more with less. The only way to still get work is to lower our fees.”
I’m not buying it! Are you?
As I was paying a stack of medical bills, I had a realization. Do our doctors lower their rates because the economy still isn’t doing so great? Would a nurse take care of us at half price? Is a baker going to charge less for his loaf of bread, or would a plumber be willing to show up and take a 40% pay cut? No way. If anything, their fees increase every year to keep up with the rate of inflation.
Then why do some of us feel the need to put themselves up for grabs in the bargain basement?
Remember: once you’re in there, it’s so hard to climb out. Forget how the economy is doing for a moment. If you subscribe to the notion that you often get what you pay for, why are you selling yourself and your colleagues short? What are you afraid of? A certain two-letter word?
THE HARDEST WORD
Top negotiator William Ury wrote a book called “The power of a positive No”. For some of us, that powerful word is one of the hardest in the language. But when we’re saying “No,” we’re asserting ourselves, and we’re affirming our boundaries, whether it’s in an intimate relationship, or in a business relationship.
Being an independent contractor means that we have to have a good sense of what we’re worth. We have to have the guts to stand up for ourselves (and each other), and say “No” when faced with a bad deal. If we don’t, people will inevitably take advantage of us.
Let me rephrase that: If we don’t dare to say “No,” we are allowing others to take advantage of us. Or, as Dr. Phil puts it: “We teach people how to treat us.” Here’s an example.
Did you know that I used to be a non-denominational wedding officiant? I could set my own fees, and every now and then a newly engaged couple would tell me that they were on a shoestring budget. Before I knew it, they were practically begging me to lower my rate.
In the beginning -when I didn’t know any better- I fell for it big time. I wanted to be liked, and I felt sorry for the couple, as I remembered the times I had to nickel and dime. Guess what… I paid for my lack of backbone, until I had learned my lesson.
First of all, these couples turned out to be the most demanding couples I had ever worked with. I’d give them a finger, and they would ask for the entire hand. I’m all for underpromising and overdelivering, but within reason. If you’ve seen some of the Bridezilla shows, you know that not every princess is as sweet as her Daddy believes her to be.
Secondly, these ‘shoestring weddings’ often turned out to be the most lavish events I’d ever be invited to. Apparently, other vendors had not fallen for the couple’s story of woe. As soon as I had learned my lesson, I encouraged my brides to price officiants out. I’d also tell them that low fees are usually a red flag. It either means that an officiant is just starting out, or that he or she might not be able to offer as many services. I would tell my couples:
“You can’t expect a gourmet meal at a fast-food price.”
When I started to put my foot down, something amazing happened. As soon as I decided to charge a fair fee, people started taking me seriously. Sure, I lost a few weddings due to price, but my limited time on earth is too valuable to have to deal with haggling Bridezillas.
THE SECRET TO MAKING BILLIONS
Author William Ury recalls a breakfast he once had with Warren Buffet, one of the most successful investors ever. Ury writes: “He confided in me that the secret to creating his fortune lay in his ability to say No.” Buffet said:
“I sit there all day and look at investment proposals. I say No, No, No, No, No, No -until I see one that is exactly what I am looking for. And then I say Yes. All I have to do is say Yes a few times in my life and I’ve made my fortune.”
So, let’s learn from Buffet and promise each other to teach our clients how to treat us.
Say NO to rates and fees that insult your unique talent, your professionalism, your intelligence, and your experience.
Economists tell us that the only way to get out of an economic slump is to start spending again.
If anything, we should start making more, not less.
For that to happen, you need to assert yourself. Or, as I like to say:
“You sometimes have to put your foot down, in order to get a leg up!”
Paul Strikwerda ©nethervoice