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5 Expert Tips For Taking Contract Negotiation To The Next Level

tips-for-contract-negotiationPosted on Mon Aug 08 20222 min read
tips-for-contract-negotiationPosted on Mon Aug 08 20222 min read
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As a starter, freelancing can seem like a big task to accomplish. Getting confused at a lot of aspects is obvious. Even as someone who has handled a lot of projects already, there are always a few things that come as something new to you. But we have you covered. If you’re thinking about how to negotiate a contract, you might not know as much as you think you do. This can especially be a part of the project that takes the maximum toll on you because you don’t know what exactly to do in case of contract negotiation. 

With a few tips up your sleeve, this entire process can be very easy for you and can prove to be one of the best bids for you. In this way, you can ease out on the part where you have to do contract negotiation and focus on the project itself. Also, it will help you know what is feasible when it comes to contract negotiation. In this way, both parties can find a common spot to start from. 

5 Expert Tips For Contract Negotiation

Below are the 5 expert tips for taking contract Negotiation to the next level:

Know your priorities right

When we talk about contract negotiation for freelancers, we have to set our priorities right. You cant expect to have everything going your way. The point is about negotiating, not whining. So, when you’re looking forward to negotiating a contract, know where your priorities are at. What is the factor that you can’t compromise on? Using these questions, you’ll be able to understand how to negotiate a contract. So, what is the point that you can leave behind? Would it be the working hours, or is the pay more important to you? 

There can be a lot of parts of the contract that make you want to go and talk, but then negotiation can only be done until a point. You can not overlord or dictate what you want with your client. Therefore, drawing a line on what you want and what is feasible is the most important. So when you’re thinking about negotiating a contract, make sure you have your priorities set beforehand. 

Talk your way through contract negotiation

Contract negotiation for freelancers is something that relies on communication. So don’t just wait behind emails to find out how your contract is going to end up. It is better and most advisable to talk over the phone, or in person, whichever way is preferred by both parties. Calling is one of the best ways to communicate your way through a negotiation. 

This is because it reduces any chances of miscommunication and enables both parties to talk about their point simultaneously. Although going over emails might sound like a good choice, but in the due course of contract negotiation, both parties might feel worn out and draw no total conclusions at all. This can hamper the chance of them preferring you for the contract but at all. So, to avoid any such issue, it is preferred that you talk to your client and lay down your rules simple, and talk your way through it. 

Know your worth, but rightly

There is a certain limit to negotiation and that’s the case for both parties. When looking for how to negotiate for a contract, know that you are worthy and that you need to set your points. Therefore, you don’t have to put your foot down every time during the negotiation. You should set the price of your work in the right manner. 

For that, you must know your worth and the importance of your work. However, it is also important that you do not go overboard with this. Ensure that you evaluate yourself fairly and neither underestimate yourself and nor overestimate yourself. In this way, there will be a conclusion to the negotiation faster than you would be thought, and also you’ll be able to be fair about the entire negotiation. Do not try to fool your client into overpaying you. It is not a professional habit and will do more harm than good in the long run for your career.

Remember: its not a war but a mutual discussion

When you’re in contract negotiation, know that it is a mutual discussion and not a war. Therefore, both parties have to put their foot down a little until you reach a point of mutual agreement. Without that, if both parties are stuck with their demands, you will never be able to reach any conclusion and therefore, the situation will take a bad turn. To avoid that, remember the point that you’ll not compromise on and put your foot down on the rest. Don’t start whining about what you want and be mature about the contract. This will display your professionalism during the contract negotiation for freelancers.

Understand yourself and your needs

The most important thing about a contract negotiation is to understand your needs. You should know your skills and what you are expecting from the bid. Simultaneously, you should also be vigilant about the demands of the client and then reach a zone that makes the most sense to both of you. Without any information about your expectations from the project, you might cast the wrong picture in front of the client, therefore, wrecking your entire contract negotiation. 

Understand your requirements and takeaways from the project and work accordingly during the contract negotiation. Using these tips, you will be able to draw appropriate lines on what is fair and what is not. Therefore, it would give you an insight into what to compromise on and what matters more to you. So ensure that you keep these points in mind when you are undergoing a contract negotiation for freelancers. 

It would help you to get the bigger picture of the contract and ensure that you’re not taken advantage of just because you are a fresher in the field. So, understand your skills and price them, not too high but neither too low. With the correct balance, you’ll be able to ace any contract negotiation that you undergo. 

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