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| | The Public Speaking - The Essential Skill Network is not currently active and cannot accept new posts | | Have a pricing question (I'm new to this network) | Views: 864 | | Dec 08, 2006 3:16 pm | | Have a pricing question (I'm new to this network) | # | 
Christina Winsey-Rudd | | Hello Everyone!
I don't believe I've posted, even though I joined a while ago and enjoy reading the posts.
I have a question I could really use some help with:
I've been contacted by a local attorney who is an alumnus of a local college. He's putting together an attorney alumni reunion that will be very small (about 12 people) and held at the University. They want a three-hour seminar/workshop targeting the issues of life balance for attorneys.
He couldn't tell me what their budget was but said as long as I was "reasonable" and took into account that I might get further business from the exposure he thought it would be fine.
Well, okay, so what does that mean? Should I price differently for this type of thing than normal fees for a talk? I gave my first paid speaking engagement last Spring at another University in Jacksonville and they happily paid me $1700 for a one-hour talk. I used audio visuals I had created on powerpoint but they made copies of any and all handouts.
So, here this group is asking for my business partner and me (corporate coaches) to do a three hour program yet I'm worried that if I were to charge $3K it would be seen as excessive. I have to consider that there is a 20% commission and fee to an internet marketing guru I use who helped me get the gig. I know that isn't the reasonable and customary bureau fee but this is a very different situation which would be too long to explain.
At any rate I could use some assistance so I don't blow my chance at this. It would be a coo in this community to speak at this university and to attorneys. It is a small audience and several are from out of town. In my mind that puts a limitation on future hiring for corporate coaching or even individual coaching business. I mean if only six out of 12 are local it really narrows the selling playing field. Perhaps I'm not looking at this the best way?
Thanks much,
ChristinaPrivate Reply to Christina Winsey-Rudd | | Dec 08, 2006 5:35 pm | | re: Have a pricing question (I'm new to this network) | # | 
Udo Stadtsbuchler | | Hi Christina
each and every talk that you give has the potential to create business for you. That's why we give talks, don't we? Why then to you even contemplate to look at this one differently? If you lower your fee and do not get any business, you will be angry with yourself or feel stupid or both. If you stick to your fee and because of that don't get that gig, at the worst you will have 'lost' the lower fee, but you will have kept your standards high and your dignity and self-esteem intact.
Also, look at it from that view point: if you charge $3K, do you feel that you give value for money? If you do, why would you sell your wisdom, your knowledge for less?
Best wishes
Udo Private Reply to Udo Stadtsbuchler | | Dec 09, 2006 7:40 pm | | re: Have a pricing question (I'm new to this network) | # | 
Mitch Mitchell | | Well, it would seem that we're going to have some differences of opinion on this one, based on the other suggestions I've read thus far.
Here's my take on it. Unless you have some kind of business relationship already with these people, your rate is your rate. This mess about "potential new clients" doesn't wash with me because it's just something thrown out there to entice you, but has no meat. Do you think this lawyer would reduce his rates to his potential clients just because it "might" get him more clients in the future? And, you ever notice how those who already have lots of money are always trying to get someone else's talents or products for less?
When I do my speaking engagements, I have my rates, but I modify based on different circumstances. For instance, I might charge a little less if it's a small group as opposed to a big group. I charge less for any group that I'm some kind of member of. Other than that, my rates are my rates, because, especially for these guys, once you've reduced your rates once, even if some of them decided to become clients, they'd all be expecting you to reduce your rates to them, and then where would you be?
Stick to your guns and charge what the market would charge. If the gig goes to someone else, then so be it. I was held hostage to the price of things early on in my solo business, and I hated the feeling; that won't happen again, and trust me, you won't feel like going into it with the same enthusiasm if you feel like you've been taken advantage of. Reduce the price because you WANT to do it, not because you've been coerced into it.
Mitch Mitchell
T. T. Mitchell Consulting, Inc.
http://www.ttmitchellconsulting.com
http://www.servicesandstuff.com
http://www.ttmitchellconsulting.com/Mitchblog
Changing Attitudes and Perceptions for Unlimited GrowthPrivate Reply to Mitch Mitchell | | Dec 10, 2006 2:55 am | | re: re: Have a pricing question (I'm new to this network) Thank you | # |
Christina Winsey-Rudd | | I really appreciate your opinions and will give very serious consideration to what you're saying. It makes sense and I like the idea of standing my ground.
At any rate, you are both offering very clear and strong advice.
Thank you! I love getting different perspectives.
Warmly,
ChristinaPrivate Reply to Christina Winsey-Rudd | | Dec 10, 2006 6:28 pm | | re: Have a pricing question (I'm new to this network) | # | 
Deepak Morris | | Hi Christina,
Like Mitch, I was bamboozled into reducing my fee in the past and I think it's just not worth it, UNLESS:
1. You are just starting out in the business and need a portfolio to show future prospects. In your case I don't think this applies
2. As an established speaker, you can leverage the gig to get you publicity. You mention that it would be a coup to speak at the venue. Is there some way to turn this into a media event so that local newspapers cover it and give you greater standing in the community?
Apart from the above, I can see no reason for you to reduce your fee. In fact, I see several reasons why you should not (should the above not apply):
1. A reduction in fee is often seen as desire to do the job at any price. This means if you reduce your fee by 10% the potential client will try to push you to reduce it by 80-90%. As an ex-boss was wont to say, "If you open the door a crack, it's then easily pushed open all the way."
2. If you should lose the assignment to someone who quotes a lower fee and then hashes it up (speaking from experience here) you're in a much stronger position to tell the potential client, "Lower fees get you lower service, as you've seen". It may be necessary to lose the battle in order to win the war.
3. I can see no correlation between who is being addressed and how it affects your input. Your expertise is entirely your own and it commands a price, regardless of who's buying. If I want a John Deere tractor, I'll pay for it, even if I have to jump through hoops to do it. If I decide a John Deere Tractor is too much trouble to purchase anyway, I'll settle for a Mahindra and there's nothing John Deere can do to resolve the issue.
Just my thoughts,
DeepakPrivate Reply to Deepak Morris | | Dec 13, 2006 3:02 pm | | re: Have a pricing question (I'm new to this network) | # | 
Jessica Ardeal | | You may also suggest, if they pressure you to lower your fee, you get what you pay for. Sure they can save a grand if they go with someone else but they will not receive the high quality program that will keep their audience enthralled for three hours. It's their call, you will make them look good if they choose you (and stick with your fee.) If not, thats their loss, not yours. Tell them how it is. They will want to pay you even more! Private Reply to Jessica Ardeal | | |
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