what do you value most?
in “lowballing and why it (usually) doesn’t work,” ed mendlowitz ignited a conversation about getting paid what you’re worth.
it started when two cpas with successful firms told ed about clients balking at paying their bills.
frank stitely took issue with one of the questioners, who had set a $30,000 price, done what he called $44,000 of work and then tried to send an additional bill for half the difference.
“lowballing a proposal and then asking for a higher amount after the work is done screams out to a client that you aren’t a very good business person. if you missed an estimate by a significant amount, it’s on you, not the client,” he said. this can be avoided, he noted: “wildly missing estimates is what happens to people with no time records upon which to base an estimate.”
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