Negotiating With Clients is in Your Best Interest

ID-1009160How did you determine how to price your services? One reason you may be suffering with finding new clients could be due to how much you charge. If this is the case, more than likely you’ve heard this objection from current or potential clients before. While you may not want to consider negotiating, it really is in your best interest. Here’s why:

  • If you agree to at least negotiate on a price with a potential client, they may see you as empathetic and willing to work with them. Many people allow their emotions to help decide how they will spend their money, so developing a positive rapport may help you close with a client who otherwise was considering not spending money on your services.
  • Negotiating allows you to explain to your potential client why your fee is fair for the value of service they’d receive. If they can search the internet and find others in your industry who offer similar services for cheaper, this is especially important. You know you are worth the extra money; you just have to justify it to the client.
  • While negotiating, a potential client may mention a service that you don’t offer, but your competitor does. Hearing this kind of feedback can help you later when you’re looking to expand what you offer.

In the end, some people will be impossible to negotiate with. No matter how low you go, they will never buy your service. Don’t continue to lower your prices to try to get them to use you. Remember that your business first and foremost is a way for you to earn income. Never negotiate lower than you are willing to go.

What tips do you have for negotiating your price with potential clients? Share them with us in the comments below!

Preparing to Network in Asia?–Consider These Valuable Tips

Last week I posted a blog about how cultural differences play into global networking and how understanding those differences becomes very important as we do business around the world.

On a related note, I’d like to offer some valuable tips I’ve picked up from a handful of networking experts in Asian countries–today I’ll focus on China and Vietnam and in the coming weeks, I’ll revisit this topic and provide the additional advice which comes from experts in Malaysia and Japan.

One of China’s leading experts on networking, Jihong Hall (pictured with me below), says that “face is everything to the Chinese.”  When used in a business context, face is not something you wash or shave but is something that is granted or lost.  In China the word face is an idiom for dignity, prestige, honor, respect, and status.  According to Hall, Westerners often make jokes at their own expense or at other people’s expense.  They have a knack for laughing at themselves.  However, she strongly recommends that you do not do this with the Chinese until you know them very, very well.  If you lose their face you will lose their business.

She has three additional recommendations when working with the Chinese:

  • When negotiating, always keep plenty in reserve.  A deal must be a compromise in which you have given enough ground so that their face is satisfied.
  • Numbers are very important to the Chinese.  For example, if your company was formed in 1944 it is best not to mention it because that means “death, death” in Chinese culture.  Even prices and fees charged are guided by the right numbers.
  • How you look is VERY important.  Dress well.  Smart, casual dress is fine; however, wear stylish clothes.

Vietnamese business networking expert Ho Quang Minh (pictured above) also recommends that you look formal when doing business in Asian countries.  He says:

  •  Westerners should be aware that some Asian businesspeople may talk less because they do not feel comfortable speaking English.  Don’t assume that they are not highly successful or that they are not driven business professionals simply because they come across as quiet or reserved.
  • Discuss business over a meal.  Do not go straight to the point at the first meeting.

What do you think of this advice–do you find it helpful?  If you are a networker in Asia or commonly network in Asian countries, what has your experience been?  Do you have any insights to share?  Please leave your thoughts in the comments section.

 

 

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