How to talk about price

man recoils in horrorOne of the scariest things a solopreneur has to do is start the discussion of how much a project will cost. You might be having a great conversation with your client, in which you learn everything your client needs and you figure out how you can delight your client with your deliverable. Then comes the big moment where one of you has to start talking about cost….

Do you choke?

I used to. I would stutter and ramble and eventually get around to saying “Well, I guess we had better talk about how much this is going to cost.” It would feel awkward, especially when the client would turn around and say “What do you think it should cost?” and I would have no idea what to say next.

Now, I haveĀ a better way to handle the discussion of price – I own it. During my conversation with a client, I focus on what her goals are and how she is going to measure success in this project. I listen for opportunities to offer something she didn’t think to ask for that would really enhance the outcome. I focus entirely on what my client is trying to accomplish, not on what specifically I’ll do. (The description of the deliverable will be in my proposal.) After I have a really good sense of my client’s biggest needs in this situation and how I can amaze her with what I provide, then I just ask the next question.

“So, what kind of budget do you have in mind for this?”

Just like that. Then I shut up. Virtually every time, clients share with me what they expect to spend for this project; one recent client told me his entire marketing budget for the year and said he just wanted to have a little left over after my engagement for one other expense.

If a client hesitates, my response is along the lines of “Knowing how much priority this has in your overall budget helps me understand what level and depth of work is appropriate. Rather than my trying to guess a number and then design a deliverable around it, I can know exactly what this is worth to you and I’ll show you how much value I can pack into that budget.”

In my experience, after I have proven that my focus is on my client’s best interest and not just my own bottom line, clients are more than willing to share with me what they plan on spending. Every once in a while, they truly have no idea what a project will cost. In those cases, I am happy to spend the time required to scope out several options. But in most cases, when I write up a proposal, I already know how much my client values the solution to this problem and I can design something that they can’t turn down.

Think like a rock climber

rock climberI’m from Boulder, where there seem to be more professional rock climbers than people like me who like our feet planted firmly on terra firma. Whenever I drive up a canyon, I can see the tiny figures of people halfway up a sheer rock face, appearing to defy both gravity and common sense.

Our local newspaper has a regular column for rock climbers and a recent one caught my eye. Chris Weidner, in “Don’t just get stronger, get smarter“, offers four tips for mental toughness that seemed directed at us solopreneurs as much as it was to those about to scale the side of a mountain.

1) Make learning your goal, not achievement. While it’s important to focus on what you want to accomplish, pay attention to the landscape and signposts along the way. If you are too attached to meeting your goal by using a specific technique or by marketing to a specific market, you won’t see the indications that you need to veer off in a slightly different direction. Stay flexible and always open to taking in new or unexpected information.

2) Free yourself of wishing behavior. For rock climbers, wishful thinking sounds like “if only that foothold was better” or “if only I were a little taller”. For solopreneurs, it might be “if only the business environment were better” or “if only my clients had more budget”. Instead of putting your energy into the things you have no control over, focus on what you can control and affect. Your attention is one of your most strategic resources, and it needs to be focused on what you can accomplish.

3) In the midst of doubt, come back to what you know. It is easy for solopreneurs to feel overwhelmed; we are responsible for every aspect of our business, and its success or failure is on us. Sometimes we listen too much to our doubts instead of our strengths. If you feel like you don’t know what to do next, take a deep breath and think about your focus. What is one thing you can do to understand your situation better? What one step can you take that gets you in the right direction?

4) Get out there and try hard. I have always believed that failure is a sign that I am stretching myself and expanding my possibilities. Some of my business efforts have worked surprisingly well; others have failed miserably. If I defined myself by my failures, I would have closed my business years ago. Instead, I know that I always have to be pushing my comfort zone, and doing something slightly beyond what I see as my capacity.

While you may never be climbing a rock face, consider adopting the mental toughness required of serious rock climbers.