branding. How much $ for a fondation
Out of context: Reply #25
- Started
- Last post
- 29 Responses
- gramme0
Wow. You guys could be charging so much more. $3.5k seems way too low for this project. Even as a freelancer with little overhead, you should be charging at least three times that price for a basic graphic ID package.
I've recently discovered a helpful tool to quickly discover if clients can afford us. It reduces time wastage on both sides of the table. I read about this in Blair Enns's excellent book, The Win Without Pitching Manifesto. Let's say you want to bring in at least $100,000 per year in revenue, but you don't want to work with a ton of clients. So you fence the table with a minimum annual engagement. Around 10% of your revenue target is a good start, but the number of clients you want to work with in a year is the most important thing to consider. So you tell prospects early and often that you have a minimum yearly engagement of $10,000. It might be $5,000 here or $2,000 there, but $10,000 per year is your entry-level requirement. That will scare off quite a few people, i.e. the clients you don't (or shouldn't) want. It will also open the door to better clients with better budgets.
You might make the occasional exception to your minimum engagement policy at the very end of negotiations, but the client should be aware know this. And you must be settled in your own mind as to why you're lowering the bar. E.g. the client represents a niche in which you've recently decided to specialize, and you would greatly benefit from the experience.