It seems that recently there has been an outbreak of “dinking” designer’s fees.
What is “dinking” you ask?
It is the practice of our wealthy clients not paying the last part of your fee that is due. They figure it is just good business to take a little discount at the end…And at your expense of course.
It doesn’t mean that you didn’t do the job right or that you didn’t run your hours tight enough. It also is not about the client not being able to afford to pay you.These are people to whom money is not an issue… they may be lawyers, doctors, realtors or business owners.
It just means that these people are confident enough to feel entitled to a discount and they are taking it!
And yes, this is a form of client “bullying.”
So what can you do about it?
Be better prepared for this type of client. Here are three tips you can utilize so as not to be taken advantage of.
Tip #1 – Write your Letter of Agreement so you take a retainer at the beginning of the job, which will be held until the end. This amount represents the final payment in your the Letter of Agreement.
Tip #2 – Raise your fee by 10% across the board to cover the potential discount takers. What if they don’t “dink” you? You simply give a little extra service if you feel the need.
Tip #3 – Take the amount of money that you came up short on this job, and bury it into the next job you do for them. I truly believe that they (the client) think that you have already done so and they are just catching up and getting even.
This does seem like unnecessary maneuvering but if this is how the “rich boys” are going to play, then you can play their game too.