The Value of Your Time: A Small Business Negotiation Story
Let me tell you a story. A few weeks ago, Raj, a small business owner just like you, received an email from a new brand. They were interested in his solutions and wanted to discuss a potential project. He was excited! New clients are the lifeblood of any small business. However, their subsequent request gave him pause. They insisted on an in-person meeting – at their office.
Now, for a solopreneur like him, that’s a big ask. It means carving time out of his already packed schedule, packing his laptop, and braving traffic to their location. All for a preliminary chat? It just didn’t seem fair. His time is valuable, just like theirs. Moreover, an in-person meeting could potentially disrupt his ongoing projects and client commitments, which could have a negative impact on his business.
So, he did something that might surprise some people. He politely pushed back. He explained the challenges of an in-person meeting for a small business owner and suggested a video call instead. To his surprise, their response was a flat “no.” They’d never paid for a meeting and weren’t about to start.
Here’s the thing: He knew his worth. He wasn’t looking for a handout but wasn’t prepared to undervalue his time. So, he took a leap of faith. He told them they would also value his time if they truly valued his expertise. And guess what? Two weeks later, they did just that. They agreed to a fee to cover the disruption to his schedule for the in-person meeting. This is a testament to the importance of knowing and valuing your worth.
This experience taught me a powerful lesson: Small businesses have the power to change the rules. We don’t have to accept the status quo, especially when it comes to our time. By confidently advocating for ourselves, we can create win-win situations with clients who respect our values. This is not just about negotiation; it’s about empowerment.
But this story goes beyond just negotiation. It’s about respect. Like solid cybersecurity protects your business data, valuing your time protects your most valuable asset – your ability to serve your clients. Would you expect a client to pay for a top-notch security solution? Absolutely. So why wouldn’t they value the time it takes to deliver that solution? Undervaluing your time can lead to overwork, burnout, and a decline in the quality of your work, which can ultimately harm your business.
The next time a client asks for an unreasonable amount of your time upfront, remember this incident. Be confident, flexible, and professional. Most importantly, know your worth. In the end, respected time is productive time, and that’s the key to building a thriving small business.
He stood his ground and got what he deserved. Here are a few things to consider from his experience:
- Confidence is critical. He knew his value and wasn’t afraid to ask for it. This confidence attracts potential clients and shows that he believes in his work. It played a crucial role in his negotiation, where he could assert his value and secure a fair deal.
- Reframing the situation: He didn’t see the initial request as not good but rather as an opportunity to negotiate. This positive approach helped him find a solution.
- It’s a two-way street: Their time is valuable, but so is yours. A face-to-face meeting requires investment from both sides.
Here are some additional thoughts:
- Be prepared for the meeting: Now that he has the meeting, make sure to go in well-prepared. Research the brand, clearly understand what he wants out of it, and prepare a presentation or talking points to showcase his expertise.
- Set boundaries: Even with a confirmed project, setting limits on future meetings is not just okay. It’s essential. Perhaps suggest a video call for initial consultations or progress updates, with in-person meetings reserved for final presentations or critical decision points. This is about taking control of your time and resources.
This is an excellent example of how small businesses can advocate for themselves. Being confident, flexible, and professional can create win-win situations for you and your clients. In a ‘win-win’ situation, both parties feel that they have gained something and are satisfied with the outcome. It’s about finding a balance between your needs and your clients’ needs and maintaining a positive and mutually beneficial relationship.