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Contractors and Freelancers: Tips for Crafting a Fair and Appealing Proposal

The first Monday of each month, I dust off a favorite post from the Bennis Inc Blog archives and give you another chance to enjoy the wit and wisdom that’s been shared. Enjoy this month’s treasure – and if it inspires you – be sure to share it with family and friends!


Tips for Crafting a Fair and Appealing Proposal

When you take the entrepreneurial leap and venture out on your own as a contractor or freelancer, one of the biggest challenges is creating a competitive and consistent pricing model you can stick to. It’s a real test of self-confidence to put a rate on your hours and truly believe you are worth this much. But it’s imperative to running a successful and sustainable business!

I have previously written on topics related to pricing services (like how to price for efficiency or tips for being smart and fair). However, even if “the price is right,” a subpar proposal can jeopardize your chances of getting a signed contract. How you package your proposal gives businesses a sense of your professionalism. It’s also an important opportunity to properly scope your work and protect your pricing.

As you might anticipate, I have passionate advice to share on this topic. This has come from my own trial and (sometimes critical) error, so take note! Here are six components that help to make up a fair and appealing proposal.

Account for any task that will require your time

When you create your proposal, you want to be as specific and all-inclusive as you can be with the services you will perform. My rule of thumb is to include any task that will require a reasonable amount of your time.

So often as contractors, we forget about the time and effort we put into things like doing research, attending meetings, answering emails and jumping on phone calls for clients. This doesn’t mean you necessarily need to charge more for these “expected” tasks, but it’s worth showcasing everything that goes into your relationship with your client so they understand the full value of the work you perform.

Quantify your deliverables

Simply saying “…will post to social media accounts” doesn’t put into perspective the tangible work that will be performed. Your client may worry about what they will actually get for the money. Be overly clear – there’s no reason to be vague with your efforts! A better version is, “…will post 6 times per week to Facebook, 3 times per day to Twitter and 4 times per week to Linkedin.”

I also prefer to use language like “up to 3 rounds of edits” because this protects you from getting stuck with a difficult client who requests that you redo your work from scratch 8+ time while still providing you with the flexibility to not have to deliver 3 rounds of edits, if they are not needed.

If you don’t define it, you can’t defend it. Should a project exceed its scope, you want to reserve the right to say that it is outside the terms of the proposal and is subject to an additional cost.

Organize services by goals

Showing your client you are an organized and detail-oriented professional begins with your proposal. Help them quickly grasp the value of what they will receive by organizing your services by the goal they aim to achieve. This will help to paint the bigger picture of how each service is strategically designed to work together and will also make your deliverables clear and direct. For clients who came to you without really knowing their goals, this added feature of your proposal will help them to feel secure under your direction (i.e. you’ll look like you have your stuff together).

Include an hourly rate for miscellaneous services

It’s natural for a project to exceed its scope once you’re signed into a contract and dig into the tasks. For example, your client may want five more web pages designed or would now like to add a weekly blog. These items will require more of your time and you need to get paid for this.

So long as you properly quantified your deliverables (see previous section we just discussed), you should have no problem responding to your client with “That sounds like a great idea! Let me get you a quote for that additional work.”

In an effort to appear both professional and transparent, I often include a line item in my proposals that note that miscellaneous writing and communication services can be completed at the rate of $X per hour. This gives clients a heads up for your normal hourly rate and reminds them that work outside the scope of this proposal is subject to additional cost.

Offer a discount for long-term commitments

For contracts that intend to be on a reoccurring basis (i.e. they have the same repeated deliverables each month with no obvious end date), I structure the pricing of my proposal to encourage clients to sign into a long-term commitment in exchange for a price break. Why? Contractors and freelancers love residual paychecks and clients love to feel like they’re getting a deal!

I suggest having three different price points. The most expensive is month-to-month. The added value here is the client’s complete flexibility to get out of a contract with minimal commitment. The next tier is per quarter. Finally, there is the annual contract pricing which is the best deal. I allow clients to still pay the breakdown each month (for cash flow sake), but they are committed to the length of the contract.

Bonus tip: I also include wording in the contract to allow for the client to adjust or increase services at any time, so long as the minimum contract price remains the same. This gives the client flexibility to add and remove services should their goals change over the course of a long-term contract, or should they wish to increase services (always a welcome change).

Set an expiration date

Finally, I have learned to include an “expiration date” on my proposals (usually 30 days from the date issued) to protect my pricing. I’ve experienced some clients go completely radio silent after receiving a proposal and then come back 4+ months later ready to engage. I can’t anticipate what other clients I may take on in the future and how my pricing may need to change to accommodate my bandwidth. The proposal expiration date allows me the right to issue a new proposal after 30 days has passed and change my pricing as I see fit. Every business must be mindful of supply and demand and how this impacts pricing; for contractors and freelancers, this is your hourly rate.

Additionally, an expiration date should give clients a nudge of encouragement to make a decision within 30 days and lock in your pricing and services while they are favorable and available. I’ve preached about how “a no is as good as a yes.” You want to receive a response to your proposal, even if it’s a no, so you can move forward….or move on.

What other questions do you have for crafting a fair and appealing proposal? Ask and I’ll answer!

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4 Tips for Becoming a Better Writer

This week’s blog is written by the newest member of Bennis Inc, Danielle Gouger. Click here to learn more about Danielle’s passion and expertise related to PR, photography and writing!


2016-05-24 20.19

4 Tips for Becoming a Better Writer

As the daughter of a talented writer, I believe I may have gotten the creative writing gene from the person I admire the most, my mother. Throughout my life I have always had a way with words and the ability to let them flow onto a page naturally, as I enjoyed journaling from a young age. English was always the subject I excelled in throughout my education, however it became clear to me later in life that If I was not passionate or excited about what I was writing, I would sometimes struggle more through the process.

This past year I was offered the opportunity of a lifetime. I was given a job/mentoring offer that would allow me to merge my creative side with writing, all while learning and navigating the fascinating world of Public Relations. Here is a look at some of the lessons I have learned throughout this process and would like to share these tips in hopes they can inspire someone else to also become a better writer.

Find Your Rhythm

Finding your rhythm in writing is not always about finding your voice. In fact, I believe that the most important components to being a better writer have a lot to do with your environment. For me, I need to have a peaceful and inspirational space to be able to thrive when writing. I can write to my full potential when I have little to almost no distractions and a specific time that I can set aside just for writing. This may not be the same for everyone, so explore different environments and note that ones that help to get your creative juices flowing.

Write, Write and Then Write Some More!

Consistently writing is probably one of the most important things I have learned this year in my new position as a Public Relations assistant. There is a lot more writing involved in my position than I originally predicted, but I am always up for a challenge! Just like with any other craft or skill, they say “practice makes perfect.” I have found this to be most definitely true with writing. When you can get going on a good writing streak, don’t stop! Keep writing regularly, daily if possible, and you’re far less likely to hit a writer’s block. But if you do…

Break Through That Writer’s Block

I have found that the biggest obstacle that a writer can face is the infamous “writers block.” There are many different ways to go about trying to overcome this hurdle in the daily life of a writer. What I have found to be most helpful, if I am stuck on where to begin or where to go with my writing, is to take a step back. You won’t break through your writer’s block by sitting there and pounding your head through it. Rather a little time and space from your writing will give you a fresh mind and renewed patience to approach the task from a different angle.

Find Your Confidence

I have always been told how articulate I am, but sometimes have had a hard time believing that in myself. The more I write; the more confidence I find not only in my writing, but in myself as a person. Putting your thoughts and feelings into words for countless others to read is enough to conjure up securities in anyone! I have gained confidence by writing like I was talking to a close friend. Rather than trying to write something that will please a huge audience, I write to relate to just one or two people I know. The end result is writing that is genuine, relatable and accurately reflects my inner voice. Who wouldn’t be confident in a finished product like that?

What other tips do you have for becoming a better writer? Share your insights by commenting below so we can all improve our writing skills!

 
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Posted by on July 18, 2016 in Business & Success, Life

 

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Independence Day

The first Monday of each month, I dust off a favorite post from the Bennis Inc Blog archives and give you another chance to enjoy the wit and wisdom that’s been shared. Enjoy this month’s treasure – and if it inspires you – be sure to share it with family and friends!

This month is particularly meaningful as I look back on the very first steps I took on my entrepreneurial journey (nearly 5 years ago!) and reflect upon where my personal “Independence Day” has led me since this day in 2011. 


Beautiful Young Woman with USA Flag

I declare today to be Independence Day—my Independence Day. I’m aware of the irony of celebrating my personal independence on a day that our entire nation also celebrates its independence. But what could be more appropriate?

There are two reasons that call for this special occasion. I am celebrating my last day  working a desk job AND my first day of being my own boss. Both are as exciting as they are scary. Since I like focusing on beginnings not endings, let’s place our focus on the latter reason.

Today is a date I first set two weeks ago with HR when I decided I was going to take the leap (hopefully not the plunge) to branch off and put my entire heart and soul into launching my own public relations firm, Bennis Inc. It was an arbitrary date at the time, but has since become my hope, my inspiration…and now, my Independence Day.

As per handbook policy, I had to give two weeks notice to leave the Department and remain within good-standing plus it was a payday so I knew I wouldn’t have to wait around for my final pay check. It made sense. For the past two weeks, day by day, it became the light at the end of the tunnel. Some days I felt like there was so much to get done before this day that it was like being sucked into a jet propeller. Other days I felt like time simply stopped moving altogether.

No matter what it felt like, it was 14 days, 336 hours, 20160 minutes of planning, preparing and waiting. In those moments, I grew by at least seven years. I did things that people decades older than me have never had to tackle, and maybe never will. I rolled over my minuscule retirement fund into a Roth IRA. I hired a tax attorney to incorporate my business and get me prepared for a whole new experience when it comes to taxes. And I started pounding the pavement, putting myself out there and finally telling people about this business I’ve been building from the ground up since college.

I realized I have never before officially declared my independence as an entrepreneur and business owner, though I have been one for almost three years now. I always felt like I had to hide it or refer to it as a “side business” so as not to appear like a conflict of interest with my day job or schooling.

Well, that all stops today.

Today, I am officially open—open for business and open to praise, criticism, success and defeat. But it feels great. I feel like I’ve finally woken up and am taking my first deep breath of fresh air. I can’t wait to see where this Independence) Day will lead!

 

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Contractors and Freelancers: Tips for Crafting a Fair and Appealing Proposal

Tips for Crafting a Fair and Appealing Proposal

When you take the entrepreneurial leap and venture out on your own as a contractor or freelancer, one of the biggest challenges is creating a competitive and consistent pricing model you can stick to. It’s a real test of self-confidence to put a rate on your hours and truly believe you are worth this much. But it’s imperative to running a successful and sustainable business!

I have previously written on topics related to pricing services (like how to price for efficiency or tips for being smart and fair). However, even if “the price is right,” a subpar proposal can jeopardize your chances of getting a signed contract. How you package your proposal gives businesses a sense of your professionalism. It’s also an important opportunity to properly scope your work and protect your pricing.

As you might anticipate, I have passionate advice to share on this topic. This has come from my own trial and (sometimes critical) error, so take note! Here are six components that help to make up a fair and appealing proposal.

Account for any task that will require your time

When you create your proposal, you want to be as specific and all-inclusive as you can be with the services you will perform. My rule of thumb is to include any task that will require a reasonable amount of your time.

So often as contractors, we forget about the time and effort we put into things like doing research, attending meetings, answering emails and jumping on phone calls for clients. This doesn’t mean you necessarily need to charge more for these “expected” tasks, but it’s worth showcasing everything that goes into your relationship with your client so they understand the full value of the work you perform.

Quantify your deliverables

Simply saying “…will post to social media accounts” doesn’t put into perspective the tangible work that will be performed. Your client may worry about what they will actually get for the money. Be overly clear – there’s no reason to be vague with your efforts! A better version is, “…will post 6 times per week to Facebook, 3 times per day to Twitter and 4 times per week to Linkedin.”

I also prefer to use language like “up to 3 rounds of edits” because this protects you from getting stuck with a difficult client who requests that you redo your work from scratch 8+ time while still providing you with the flexibility to not have to deliver 3 rounds of edits, if they are not needed.

If you don’t define it, you can’t defend it. Should a project exceed its scope, you want to reserve the right to say that it is outside the terms of the proposal and is subject to an additional cost.

Organize services by goals

Showing your client you are an organized and detail-oriented professional begins with your proposal. Help them quickly grasp the value of what they will receive by organizing your services by the goal they aim to achieve. This will help to paint the bigger picture of how each service is strategically designed to work together and will also make your deliverables clear and direct. For clients who came to you without really knowing their goals, this added feature of your proposal will help them to feel secure under your direction (i.e. you’ll look like you have your stuff together).

Include an hourly rate for miscellaneous services

It’s natural for a project to exceed its scope once you’re signed into a contract and dig into the tasks. For example, your client may want five more web pages designed or would now like to add a weekly blog. These items will require more of your time and you need to get paid for this.

So long as you properly quantified your deliverables (see previous section we just discussed), you should have no problem responding to your client with “That sounds like a great idea! Let me get you a quote for that additional work.”

In an effort to appear both professional and transparent, I often include a line item in my proposals that note that miscellaneous writing and communication services can be completed at the rate of $X per hour. This gives clients a heads up for your normal hourly rate and reminds them that work outside the scope of this proposal is subject to additional cost.

Offer a discount for long-term commitments

For contracts that intend to be on a reoccurring basis (i.e. they have the same repeated deliverables each month with no obvious end date), I structure the pricing of my proposal to encourage clients to sign into a long-term commitment in exchange for a price break. Why? Contractors and freelancers love residual paychecks and clients love to feel like they’re getting a deal!

I suggest having three different price points. The most expensive is month-to-month. The added value here is the client’s complete flexibility to get out of a contract with minimal commitment. The next tier is per quarter. Finally, there is the annual contract pricing which is the best deal. I allow clients to still pay the breakdown each month (for cash flow sake), but they are committed to the length of the contract.

Bonus tip: I also include wording in the contract to allow for the client to adjust or increase services at any time, so long as the minimum contract price remains the same. This gives the client flexibility to add and remove services should their goals change over the course of a long-term contract, or should they wish to increase services (always a welcome change).

Set an expiration date

Finally, I have learned to include an “expiration date” on my proposals (usually 30 days from the date issued) to protect my pricing. I’ve experienced some clients go completely radio silent after receiving a proposal and then come back 4+ months later ready to engage. I can’t anticipate what other clients I may take on in the future and how my pricing may need to change to accommodate my bandwidth. The proposal expiration date allows me the right to issue a new proposal after 30 days has passed and change my pricing as I see fit. Every business must be mindful of supply and demand and how this impacts pricing; for contractors and freelancers, this is your hourly rate.

Additionally, an expiration date should give clients a nudge of encouragement to make a decision within 30 days and lock in your pricing and services while they are favorable and available. I’ve preached about how “a no is as good as a yes.” You want to receive a response to your proposal, even if it’s a no, so you can move forward….or move on.

What other questions do you have for crafting a fair and appealing proposal? Ask and I’ll answer!

 
 

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

 
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