Grow Your Video Business 168: How To Stop Attracting Cheapskate Clients w/ Ryan Koral
In this solo unscripted episode, I want to answer one question for you. How do you stop attracting cheapskate clients? We’ve all been in a situation where a potential client doesn’t want to pay enough. Yet, knowing your value will help you choose the right people to work with.
To give you some context into how I learned these valuable lessons, I describe my first ever jobs as a filmmaker. There were some hard lessons learned, but now I know what my value is. Since this realization, my encounters with low-balling clients have become rare.
Being able to deal with cheapskate clients means knowing how much your business actually costs. There is a minimum cost involved in everything. When you take a job that doesn’t exceed what it costs to run your business, you are cutting off opportunities to actually turn a profit.
Often, avoiding low paying clients takes doing the work needed to find high paying ones. You have to get out there and network with the people with the right budgets who value what you do.
Have you ever turned down a cheapskate client? Tell me about it in the comments on the episode page!
In this episode
- What my first jobs in video taught me about the value of my time
- What happens when you understand your own value
- Why taking a low paying job is an opportunity killer
- Why your time is better spent networking than doing low paying work
- Saying no when the price isn’t right
Quotes
“You live, you learn, you realize you don’t need to give away the farm for your top package.” [8:21]
“You have to know what it costs to run your business. You have to know the value you bring to a job.” [13:38]
“As soon as you know what it costs to do a project, it becomes really easy to be able to say no to a job that’s too low.” [20:24]
Links
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