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When customers tell me I was one of the highest bids I answer “…because I’m one of the best”. Most of the time people reply “ that’s what I heard” and we make a deal. Learned it from Chris. I learned another thing : when you work for low ballers you prevent clients who can afford you from hiring you.
Right? You can price yourself out of the game downwards as well as upwards. Down has a limit, up doesn't. I think it is worth bearing in mind too that the mid-term goal isn't solely pushing price up, but legitimately growing the expertise you deliver in return for those higher prices too. David Baker's book on this blew my mind!
I’m all for someone making a healthy profit. The performance of your product or service may be great, but competition in the market dictates what a reasonable price should be. Viewpoints like yours will cause you to out price yourself from the market at every opportunity. At the end of the day, if s buyer’s scope includes a standard to measure quality, the end product should meet that standard. Someone will always meet that minimum quality standard for a fair price.
This video was my first introduction to The Futur. Now that I'm rewatching it again, I realise that all the invaluable lessons Chris and The Futur have shared, they were all in practice in this video. Consistency.
Can Chris be any more likeable? He is just remarkable the way he challenges, counters objections and asks prudent, clarifying questions with so much calm confidence, wit and poise. He's just not someone you listen to, but someone you gotta study to really take in his guidance and advice🖤
I love these videos - they are highly educational and engaging. I know that this wasn't the point of this particular exercise, but I think it's very important for the freelance population to converse in the right financial terminology and be able to speak at the CFO level. When a client is talking Gross Revenue, we must also understand what the contribution margin is on that in order to design a performance-based payoff. Performance can be paid only out of margin, and not out of Gross. Giving away 50% of gross on a 20% CM business will bury the company for good. It is critical to assess the client's finances such that one can build a relationship that leads to a long-term engagement beneficial to both parties. On another note, every time I have said yes to a low-ball offer, I have suffered deeply in more ways than one. No mas. Thank you for sharing your wisdom Chris.
This was the first video that I came across from The Futur a few months ago and I'm hooked since then. Have already improved a lot in sales and have closed more than $20k upfront in sales since I started implementing these strategies. Thanks you Chris and Pro group for all you do!
I saw someone comment about this being a re-upload. I'm newer to this channel and I'd like to say I appreciate this greatly as a younger and underdeveloped creative in the industry. I think we as creative forget all business is not good business if we have to sacrifice our bottom line and creative work
What a timing 😊 Old video but timeless advice. I won't get into details, but the 'percentage of new costumers thing' - I needed that right now. Thank you!
Chris's strategic approach to questioning the value and impact of a marketing spend is a smart move! It’s crucial for businesses to critically assess ROI and explore multiple strategies to maximize their budget effectively. 💡
Yeah but how good is it to see the replay and reabsorb the flow and interaction? The 'tell you what, I'll do it for free' moment is....mwah, chef's kiss.
This video is about negotiation and how to handle low-ball offers. In the conversation, a business owner asks a video creator to create a video for $1,000. The video creator points out that the business owner is likely undervaluing the project and that he should not accept a price that is too low. Here are the key points from the conversation: The business owner offers $1,000 for a video project, but the video creator believes the project is worth more. The video creator offers to do the project for free if he is paid a percentage of the new revenue the video generates. The video creator also gives the option of paying $4,000 upfront for the project. The business owner ultimately decides to pay the $4,000 upfront. Some of the negotiation tips from this video include: Do not be afraid to negotiate the scope of the project to meet your price point. You do not have to meet the client's expectations if their offer is not reasonable. It is important to be aware of your own value and what your time is worth.
Great, but consider a payment schedule for creative work instead of 50% / 50%. One thing I realized ages ago, is that the vendor typically needs more then 50% (payment 1) to handle the needs of the projects (supplies, addl. labor, overhead etc.), and therefore, can often be paying out of pocket towards the end... I try to structure arrangements so I'm never put of pocket via a payment schedule and it's outlined in my deal memos. (Ex: 50% Deposit, 25% Halfway, 25% Delivery) Also, payment 2 always COD. Never turnover final materials without final payment or you'll be waiting forever.
Ahhh Chris, you sly fox. So you did follow the "Introduce new viewers to older content" advice. I was surprised seeing this video pop up because I clearly remember watching it some time ago but now I understand why. It's really humbling seeing someone like you always learning and listening to your peers ego-free.
@@nicholasbazarow4135 So does Hormozi and almost every game or non-game streamer. It's their brand. With that said, it seems like you have a bone to pick with him so I'll leave you to it.
Sounds like going to therepy... The answers may already be kn rheir head and rhey just need to talk it out, perhaps a confirmation for something they already wanted to do... These talks are the game changers.. Amazing video, rhanks for sharing this with us❤❤❤❤
This video is good to create awareness of the value of your work, but this would be we work as a sales roleplay as the client-to-be would rarely be so comprehensive and open to discuss revenue.
Sounds more like "If you can't afford it, it's not important"? Wish I had infinite budget that'd be dope Whoever chimed in was pretty dope. Loved his comments
Thats amazing and I love all your videos. But I have never encountered a client who will answer those “personal” company questions. It even happened to me one time in a call to ask something and they cut me off by saying thats not of your business lol. Comunication with clients is something like ok I am Hiring u to do a job not to ask me questions about my income, clients etc,
A few thoughts. The owner needs to build awareness (bring people into the store), this doesn't necessarily translate to lower funnel conversions (I saw this video, I am buying because of it). Are you going to take full credit for all new business even though they may or may not have seen your banger video? It's HARD to get net new users to convert (depending on the product/service), a lot of times it's more about trust messaging (RTB's - Reasons to Buy or Reasons to Believer), and as you pull them down the funnel THEN they may convert. That conversion may take many touch points before actually driving the right user to produce the right action at the right time.
@chris…how can we create a system w/clients creating a more full proof that we would receive our % of income based on the clients product sales? I love this idea but I judge there are people out there that will not be honest when I take all of the risk in making a video for free up front and get a percentage of sales.
The idea he channels in the last part is “oh, I have a concept of how much you should make, Chris, and I’ll do everything in my power to put you in that place I am imagining in my brain”. Honestly, if you encounter this, do not take the project, doesn’t matter if you convince them or not. Client is overstepping, and it’s none of their business how much you are worth or what your place in the world is.
everytime i have a pitch meeting i watch this vid, no joking, im like half the views and today is one of those days, so you can add one extra view on me!
I love this so good. But the first part where you ask “what’s your budget” is wrong. 99% of engaged leads I sell play the “I don’t know how much it costs.” Card all the time. I then submit a price and they gasp. Then it’s crickets or “we can’t afford you” which is great, but a waste of an hour of my life.
@@dlakecreatesclips it’s not wrong, just wasn’t presented correctly. When you ask “what’s your budget” and they say they “don’t have one” you can reply in the past projects like this range from $-$$$ is that within the number you’re thinking? Lmk if that helps
@@CultureShiftMM for me it is, I always have clients coming to me do to the work for way less, than what would be a realistic price for a high quality work, and once we do a call, they are like ok this makes sense when can you start :)
@@thefutur I always learn something new and share it. You are amazing that you know these things, but it it more awesome that you share it. I have been using your lessons to improve my business and earnings for years now. And I also learnt a lot from the branding videos from say 6 - 7 years ago
@@thefutur Because you largely dominated the conversation here with someone who only had five seconds to prepare. Because bigger clients arrive in the conversation having largely decided what they think they want and how much they hope to spend, and even though one can challenge those assumptions it is often not a vacant space awaiting ideas. Because bigger clients don't have a BMW parked outside and haven't been part of the decision-making process for acquiring the new flooring. Because bigger clients sub-divide responsibilities such that the people commissioning the video do not have the option to choose to restructure the deal for a percentage of future revenue. I am not saying there isn't value in the premise. There is. But the person playing the role of the client was very submissive relative to my personal experience of big banks, insurance companies, healthcare companies etc.
I dont think 50% for awhole year of revenue is fair. It should be 50% for 2 months and 12 months of videos, and averaging out the percentage of video / revenue
3:20 Alright, I’m just going to say it. This has got to be one of the worst possible moves you can make. It doesn’t look cool, because you’re facing off against the black pawn, you are now losing lol. Might as well played the Bird, or a Bongcloud. Good video so far though.
Beard Guy is a bad client, had a hard time understanding the concept of a percentage on sales, made a big deal out of paying a flat fee for growing revenue significantly, will more often than not be a buttmunch even when they receive a job well done. Ditch immediately, clients that are worth your time will not waste it negotiating every miniscule thing as if you have all day, if you take one like this they will waste your time for months on end and shamelessly blame all their shortcomings on you constantly without taking any accountability for their poor handling of affairs.
Time is pretty much the most valuable asset, in the same time he takes to create the video (with no guarantee of what he will earn from it) he could be doing another commission getting paid in full
Dudes not an innovator, I woulda made him spend that $1k with me with a relative upsell. Giving away nothing, because the value becomes less that I offer if I say I also come with a bargain. This is amateur hour
Anyone can create content. Creators and marketers are a dime a dozen. Being overly confident in your abilities to create does not create value for the buyer. It would be best to walk from that meeting and find someone else.
This world is unfair. i post better content than this, but he gets all the veiws. lol 😆 the cream will come to the top eventually so i will keep posting but this is rubbish thats produced at a high quality
@@topformwear so link us to it! 'better' doesn't pay the bills if no-one knows....maybe that's why he gets all the views...ergo your positioning/marketing is sub-par. No?
Blast from the Past!!!! This was the first video that I watched from you guys and I was hooked! this has helped me to make a comfortable living from freelance. so thank you team futur. Love and respect, Hassan
The other guy is simply not smart enough to negotiate effectively. I have a $1000 budget for a video. The distribution of video is limited, so the impact is limited, and it will only attract a certain number of clients. Plus, no one will visit a store after watching just one video. No one can quantify the value of a single video in the context of marketing and promotion. You can do the video for free and take 2x your actual value, i.e. $8k from my PROFIT, not revenue. (so basically double if you take the risk) "So you want 4k for a video, how about I pay to double. Now how do you earn double, heres the offer" So if I pay upfront, you get $4k, and if I give you from profits, I give you $8k over a number of months when my profit is 2x or 3x every month starting the day you launch the video. For example, if my current monthly profit is $2,000 and after the video it reaches approx $4,000, I will wait 3 months before paying you. No point paying you if my profit doesnt increase. if I only reach from 2k to2.5k profits per month. Ill have to wait many months to pay you. In todays day and age the value of a video dies down after 2 months so its redundant to calculate any conversions after that. aargggh. There are numerous ways to negotiate. Blah, this guy. P.S talk in profits, not revenue. ohh here is a random cool quote to sound smart. "let us never negotiate out of fear, but let us never fear to negotiate" :P
