This is one of the most difficult and subjective decisions you need to make when you are offered a project. You can say no and on occasions you must say no if there is any doubt as to whether you can deliver or if you do not have confidence that the client will stick to their proposal and budget etc.
Walking away if you cannot deliver
The key factor is to get to a proposal document which yourself and the client have agreed upon. You then need to work out exactly how long it will take to deliver this and the steps needed to do it. It can be very tempting to think that the project will be easier to deliver than it actually realistically will be, especially if you have not had a project in awhile. But believe me do not make this mistake. The consequences on your confidence and in your reputation can be detrimental.
Also, you need to be clear if you are working with others as to whether they can deliver especially if it is a much more complicated project then you are used to doing or that you do not have their expertise in. You always do need to leave some slack in the budget in case of unforeseen circumstances but if you do not know the market or the type of work you are doing that well then it may be wise to reconsider either taking on the project or cutting back on the proposal.
The most important thing is honesty and transparency with the client even if this means losing the client. You may lose one or two clients here but in the long run you will build a reputation with yourself and with other clients that will stand you in good stead. If you just take any old project you can get your hands on you will diminish your brand especially if you do not deliver to your usual high standards.
Walking away due to under-pricing
The other thing I read recently in a book on business is to not do work cheaply if you are underutilised. Obviously, in a deep and enduring recession you may need to react to market conditions on a temporary basis. However, there is usually a rare occurrence but in the general day-to-day world, you need to maintain a minimum standard as to what kind of work you will do and the day rate you will charge. If example you start doing work under your minimum day rate, it will be very difficult to increase that day rate back to your usual level.
Also, if other clients find out that you were under charging yourself to other people, they could get quite annoyed and also demand the lower rates. So, as long as your rates are market competitive or offer great value for money then you must be willing to lose some business in order to strengthen your brand and reputation in the market place. Obviously if you are overcharging the market will tell you soon enough.
Walking away if you have doubts about the client
It is always worth doing a bit of background research on your clients, especially if you are entering into a large and long-term project. You can speak to other consultants who have worked with the client or do some financial research as to whether they are solvent and pay up on time and maybe speak to some of their colleagues to get an understanding of their working style. If you have any doubts after all of this or they are already moving the goalposts and trying to get more out of you, then it’s worth you either having an upfront and honest discussion with them or just moving on.
Walking away if you are not happy with the project content
You also have the option of walking away if the content matter of the project is not suitable for you based on your morals and ethics etc. This could be if the project involves tobacco, arms industry or other areas of business you are not comfortable with. Or dealing with areas of the world in which you do not feel safer comfortable etc whatever is relevant for you. It is better you feel happy working on a project than trying to slog it out and arguing with your conscious. This is one of the reasons you chose to be a freelancer is to be able to walk away in such instances.
With all of these points, the key is to balance your financial and business requirements with your need to deliver a high value project which will lead to long-term business and a lot more freelance consultant jobs over the long-run.
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March 8, 2010
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