There’s nothing more exciting than getting a client nibble. It doesn’t matter where it came from, in that thrilling moment when you open their email or hear them on the phone.
Excitement! Visions of dollar signs dance in your head.
That is, until the moment you ask the client what they pay, and they say, “I don’t know — I was hoping you’d tell me your rates, or put together a bid.”
Gulp. Then you end up second-guessing yourself, bidding super-low, and wondering if you left money on the table.
And you probably did.
If you’re at a loss when you have to name your price, let me acquaint with you my toolbox for sleuthing out appropriate rates, and getting information about a prospect. Whether it’s a magazine or a business, there are ways of getting a sense of whether they’re a $10 million company, they’ve only got 5,000 subscribers, or have just three employees.
You can do this fairly quickly — and it shouldn’t cost a dime. I don’t usually spend more than 10 minutes researching a prospect, using free resources, before I have a clear sense of whether I think they will pay pro rates.
Here’s my list of research tools for getting company details: