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Establishing and negotiating rates with your potential clients seems like one of the most complex or intimidating parts of freelancing. But, it does not have to be!

WEAR YOUR DETECTIVE LENSES

The first step is to do your homework.

Detectives and investigators compile evidences through careful observations and interviewing witnesses. Play the role of a “detective” by collecting as many salary information as you can. Research about the average rates for freelancers by joining online forums (e.g. Singapore Babysitter Connect) or by joining local groups (e.g. The Singapore Writers’ Group). One of the best ways to get useful information is by chatting up with hired freelancers in your area.

UPDATE YOUR PROFESSIONAL PROFILE

After researching the realistic going rates for the position that you are applying for, you must display a pleasant track record. It goes without saying that higher pay will be rewarded upon showing amazing performance at work. For instance, you shall make it a habit to collate positive reviews or references from different individuals whom you worked with. Glowing reviews from 10 parents in the local neighborhood are good additions to your tutor’s negotiating arsenal.

If you want to list the contact numbers of several references in your CV, you must ask for their permission. Boost your image by having your satisfied customers talk for you!

ASK FOR IT UPFRONT

There are many individuals who fail to initiate a pay raise during an interview and after employment. However, it is challenging to negotiate a raise if you do not ask for it. Weigh in on how much you should get paid before signing on a project with a new client.

Present a concrete figure based on your careful research and past experiences. If you act as though you are prepared to walk away from a deal unless you achieve your desired goal, your bargaining partner will be far more eager to satisfy your requirements. Most clients will agree to your desired rate or simply meet you halfway.

OFFER THE INTRODUCTORY RATE

Your potential client was impressed with your body of work, but he is hesitant to commit to your proposed higher rate at the onset. Do not give up just yet! You may offer an introductory rate for a limited amount of time.

Let us say that you clean flats every weekend. You can render your services at the friendly rate of S$17/hour during the first two weeks. If the client is happy with your performance and would like to utilize your services afterwards, he or she has to pay you S$24/hour for the succeeding weeks. Think of a rate and a time-frame, which works for your circumstance.

Image Credits: pixabay.com

Negotiating a salary is a conversation that aims to reach an agreement with someone whose interests are not perfectly aligned with yours. Use these four strategies to help you achieve your financial goal!

According to the recent survey by Freelancers Union, 44% of the participants (freelancers) reported problems with getting paid. Some are even tracking their clients for owning more than S$13,000 (US$10,000). Yes! Getting paid is one of the most frustrating and stressful aspects of being a freelancer.

In a world of fixed expenses and variable income, the stress of a freelancer comes when they have to deal with stubborn clients. While frustration arises when the client piles up more work when you still have not gotten paid yet.

Although this dilemma can be overwhelming at times, find fulfillment with this clever plan to get what you de$erve:

GET PAID FIRST

For your first client, shall you charge a flat rate or shall you give a discount? No matter what you choose to do, do not start working until you get upfront. This is the best case scenario!

As cash flow is the core of most freelancers, you do not want your finances to crash just because of the debt of your clients. Ask them to pay at least two weeks in advance before you commence your work to avoid chasing for your clients.

REQUIRE A DOWN-PAYMENT

If your client cannot pay upfront due to valuable reasons, consider requiring a down-payment to send a message that you mean serious business. As a newbie in the field, it is understandable to feel uncomfortable as you do not want to make demands that could ruin the new relationship you have with your client. I felt the same way in the first few months. However, like any professional services firm, you must require a down-payment to ensure that your client is capable of paying you.

SET A SCHEDULE FOR PAYMENTS

It is better to stick with a billing schedule to keep track of everything. Whether you would like to send the invoice every month or bi-weekly, you must bill on time. To put things in perspective, you may treat your client’s payment as something you can deduct to your credit. For example, deduct the “total bi-weekly due amount” to the credit pool upon making an invoice for it. This way, you are giving more importance to time and money management.

SEND A FRIENDLY REMINDER

For late payments, act immediately by sending a friendly reminder to your client. Give him and her the benefit of the doubt by assuming that the lack of payment is due to a mistake, medical reason, or an oversight. That is all it takes to get paid – sometimes.

PUT EVERYTHING IN WRITING

To prevent the unwanted “late payment scenario”, you need to have a contract that defines when you will get paid and includes a clause for when you do not get paid on time. In your contract, you must guarantee that…

a. the client does not own anything they have not paid for,
b. the client will be charged with an interest for overdue invoices, and
c. the court shall give you the right to get your money back.

Image Credits: pixabay.com (CC0 Public Domain)

This binding contract protects you in case legal matters arise.

Sources: 1, 2, 3, & 4

How To Negotiate A Higher Pay As A Freelancer

A Newbie Freelancer’s Guide To Getting Paid On Time

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