Can You Walk Away?
It’s always best to negotiate from a position of power. You must ask yourself ‘Can I walk away from this deal?’. I find many people get locked onto an opportunity and so it’s tough to let go. I was recently discussing a contract opportunity for myself and I heard such things as ‘That rate is higher than the client is comfortable with’, ‘Other candidates have lowered their rate because of the economy’, and ‘This is our standard rate’ to name a few. Many people in my position would have went along with those comments and lowered their rate. If you know me by now, you know I didn’t.
When someone tells me about an opportunity they have and what they want from the client, I usually ask ‘What if they say no?’. Often times I get a blank stare. In many cases, they will eventually adjust their rates downwards to accommodate the client’s ‘policy’. There’s nothing wrong with making adjustments but you should never lower your rate or make other concessions without removing something from your service, or getting something else in return from the client.
Negotiations can tend to get personal. The egos can get involved. Here’s my take: You have your standards and the client has theirs. If you can’t come to an agreement that’s okay too. They have their policy and I have mine. The slippery slope is if you lower your standards for one client you will tend to do this in the future as well. If you stick to your guns, lose an opportunity or two but still end up in great shape, it will encourage you and validate your courage.
