Negotiate Like a Pro with Marc Molinsky of Designer Advantage

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Last week we had the pleasure of hosting Marc Molinsky, Founder and CEO of Designer Advantage, for a lecture at our Tête-à-Tête Lounge. Marc shared his expertise on the art and science of negotiation and outlined a strategic plan for designers eager to maximize their business potential.

Marc’s lecture was incredibly informative and we’re delighted that he had the opportunity to share some of his knowledge with us. Below he’s shared his top 10 tips for successful negotiating for anyone who missed the event.

 

1. Remember that every client is different. Be comfortable changing your billing method depending on the client and project scope.

2. Ask a client if they’ve worked with a designer before. If the answer is yes, ask how they charged and if any issues arose so you can get a good sense of your client’s past relationship with the industry.

3. Know your break even gross profit percentage.

4. Don’t negotiate with clients on the spot. Instead, tell them that you’ll think about it and get back to them with your thoughts.

5. Let clients know that you charge within industry standards.

6. Fixed fees are deadly and should be avoided at all costs, as they leave neither you nor the client satisfied.

7. Pay attention to “warning signs” when meeting with a prospective client and trust your gut.

8. Getting paid for your time is never a bad deal.

9. Some clients are ‘mirages’ and are not actually willing to pay for your services.

10. Be very careful with estimating time. If a client asks for an estimate, let them know that there are too many variables that could increase or decrease your time estimate to give them an honest answer.

To learn more about Marc and the benefits of Designer Advantage’s bookeeping, project accounting, and expediting services, please visit the website here.