Big mistake when pricing writing projects

And how to lead the money conversation instead… [The Writer’ s Life]( August 23, 2023 "Only put a price in front of a client when you fully understand what is motivating them." – Unknown Hi {NAME}! Almost nothing brings more fear up in a new writer than "the money conversation," as Ilise Benun calls it. And truthfully, many veteran writers feel the same way! But it doesn't need to … After 35 years of mentoring creative professionals, Ilise Benun is VERY familiar with the fears and roadblocks writers face when building a business. The good news is, she has solutions she's always willing to share with AWAI members! Ilise is a familiar face and popular speaker every year at Bootcamp! This year, she'll be speaking on — what else?! — leading the money conversation with grace … (If you're not yet signed up for Bootcamp, [do that NOW before the remaining few seats sell out](!) Today she's here to talk about a big misstep writers make when having "the money conversation" with clients. Reacting from a position of panic, they'll blurt out a price under pressure. But Ilise has a solution for handling the urge, while at the same time setting yourself up with a stronger negotiating position. Knowledge helps eliminate (or at least reduce) fears, and Ilise is so good at helping writers understand how to be in better control of their writing businesses. She's one of the instructors in our popular [Virtual Business Building Intensive]( … Where we guide you every step of the way through creating a writing business that will bring you the clients (and money!) you need to reach your goals. From your niche and your website, to landing clients and pricing, nothing is left in doubt. It's amazing how having the foundation of your writing business set up can improve your mindset and have a positive impact on achieving your goals. We'll also help you set up a fee schedule you can use as a guideline for quoting prices — eliminating many pricing issues, including the "price blurting" impulse. You'll be able to quote new projects with complete confidence! [Go here now]( to get the details — the doors to enrollment close soon. This is your one chance to get the personal guidance of seven business-building experts. To your success, Rebecca Matter President AWAI CLOSING: Only Accepting New Writers Until Midnight Tonight! Get accepted into the Barefoot Writer Club by MIDNIGHT tonight to claim your "Getting Started" writing gifts, worth $363 – FREE! You're a good fit for the Barefoot Writer Club if … - You enjoy writing. - You want to make great money doing it. - You want control over what you write about and who you write for. But hurry … You only have until midnight tonight! [Get Accepted Here]( The Price of Blurting Out Prices By Ilise Benun [Women talking while in front of a computer] Have you ever blurted out a price and then instantly regretted it? What about saying yes to a deadline that you know in your heart is unrealistic (not to mention impossible) but the client insists on it? Or worse yet, offering to deliver a project too quickly just to please them, even though they aren't asking for it immediately? It's easy to feel pressured — especially by someone who wants a price or agreement on the spot. And it's not unusual to feel pressured — to actually pressure yourself — when you desperately want a project or a client. (Or when you have a hot lead on the hook.) Here's the lethal combination that might make you do it: 1. You don't want to lose the project. 2. You hate the money conversation so much you want it to be over as quickly as possible! So you sacrifice yourself (and your income)! You know what happens … the blurted price is almost always too low and of course they agree to it. Later, when you see how much work is actually involved, it feels like it's too late to ask for more. (Is it really too late?) It's even worse when the price you blurt is too high, which can scare your prospect away before you even have a chance to demonstrate your value. That's why you have to resist that urge to blurt. Unless you are absolutely sure about the right price, the best thing to say, is: "Let me give it some thought and get back to you." Why is that so difficult? All you have to do is restrain yourself in that tiny moment of emotion and pressure. If you can manage this, you've bought yourself some time. That way, you can give your price careful consideration (i.e., sleep on it and/or talk to a mentor or accountability partner) and, when you're ready, propose a number you won't hate yourself for. You see, when it comes to pricing your copywriting services, you may think your biggest challenge is charging the "right" price, but it's not. Because there is no "right" price without the money conversation — and that's a conversation it's your responsibility to lead. But many, if not most, copywriters I talk to confess to actually avoiding the money conversation at all costs. How? They take the first price that is offered or, when none is offered, they knowingly underprice so they don't lose the client. But that usually ends up being a very expensive project — emotionally as well as practically. So while this attitude may get you the copy project, it will rarely get you the best deal. So here are three quick tips to follow: Quick Tip #1: Address "the money question" early on. In fact, be the one to initiate it. That puts you in a position of strength. Don't put any more effort in than necessary before talking money. Otherwise, you may waste a lot of time researching or even just thinking about the project, only to find out they have "no budget." Say this: "Let's make sure we can come to terms financially before we get too deep into the details." Quick Tip #2: Don't take the first fee offered. Sometimes the prospect will have a budget and they'll be up front about what it is, saying something like, "Can you write a landing page for $200?" Whether the price they offer is higher or lower than you expected, resist all temptation to accept it, just to be done with it. Budgets aren't written in stone and there is usually some wiggle room you won't know about, unless you push. (And yes, you can push without being pushy.) So instead of accepting the first offer, see how much more you can get by asking for more. The negotiation will then take place within those two boundaries. Say this, "I was thinking more along the lines of (try double what they offered). Can we meet somewhere in the middle?" This happened to me recently. An editor at a magazine I have written for before offered me $1,000 for an 1,800-2,000-word article with a deadline in 30 days. That's essentially 50 cents per word; I wanted $1 per word. So I wrote back: "I was thinking more along the lines of $1 per word. Can you come any closer to that?" Her response was to offer $1,200, which she said was the maximum she could offer. But she also brought down the word count to 1,300-1,400 words. I accepted, but not without one more request: would she agree to give me more time? I got it. I could have left it at the higher price, lower word count, and same deadline. But I like to negotiate — to see how well I can do for myself — and that last "chit" hadn't figured into the negotiation yet, so it was there for the asking. Quick Tip #3: Know how low you will go and be ready to walk away. The best outcomes in negotiations are always a result of a willingness to walk away. After you get your questions about the project answered, but before opening up the negotiation, you must have a number in your mind below which you will not go — your personal bottom line. And you must be so detached from the opportunity that you can take it or leave it — and that you will leave it, if it doesn't meet your bottom line. If you do have to walk away, all is not lost. Say this: "I'm sorry we couldn't make it work this time. Hopefully, there will be another opportunity for us to work together in the future." Don't you want the best deal for yourself, if for no other reason than out of self-respect? If so, follow these guidelines, adapt the language to your own situation, and see what happens. I can guarantee you'll learn and earn more! And finally, do it with a twinkle in your eye. The more you practice, the better you'll get, the easier and more natural it will become for you to have a twinkle in your eye when it's time for the money conversation. One thing that will help you have a steady stream of clients is to have a solid foundation for your business and a set of processes you follow. If you're ready to get all your business foundation ducks in a row in just 30 days, I can help. I'm one of a team of seven experts involved in the Virtual Business Building Intensive, where we walk you step-by-step through building your complete writing business … If you've yet to launch your business, or you're simply not happy with it, [definitely check it out](. What's Hot at AWAI … 😎 Want EXPERT help starting your writing business? [Check this out!]( 🤓 Want to be taken seriously as a newbie writer? [Try these 5 tips!]( 💸 [Having pricing challenges? 8 things to try.]( 👉 [Recovering perfectionist finds success in writing: Michele's journey to living her writer's life.]( 🤩 [Boat captain navigates rough waters; finds copywriting success.]( An unflinching win … [Social media post about a client paying in full up front for the writing of a press release] Wow, Rodger! It takes confidence to set your financial guidelines to a new client but you did it! And you were rewarded with a full payment with no hesitation. (If you could use hands-on, step-by-step guidance from our team of seven experts to build your business, [now's the time to check this out](.) Have your own story to share? Email us at mysuccess@awai.com, or [post it over in the Facebook group](, so we can celebrate your win too! Free Training: 20 Copywriting Secrets from Mega-Million-Dollar Direct-Response Legends [Inside AWAI webinar Use These Secrets to Write Effective Direct-Response Copy presented by speakers Katie Yeakle, Sandy Franks, David Deutsch, and Guillermo Rubio]Friday, August 25, at 12 p.m. ET 👇 [Access Instructions Here]( Your ALL-ACCESS Key — Just $1! Get instant access to this exclusive B2B writing community and ALL their private resources, including … All the success roadmaps … All the writing templates … All the articles … All the how-to videos … All 150+ training webinars … The Forum, the Job Board, the tutorials, the tools … And much more! 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