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On Negotiating Rates With Brands (Know Your Worth)
Do you struggle in negotiations with brands?
Here's what Khoi recommends you do to set yourself up for success.
Transcript Below:
Always know your worth.
If you don't know your worth then you will always charge too little.
You are worth way more than you think.
In fact, I recommend to charge more than you think you are worth.
It may feel uncomfortable, but in this game — you've gotta get comfortable with being uncomfortable.
You don't know what others are willing to pay you — until you test the waters.
It's a negotiation. Both sides are trying to get the best deal possible.
My advice is to reach for the stars and throw out your loftiest numbers.
Continue raising your rates until no brands are willing to meet you at that number.
Then you can go down from there.
But always, always, ALWAYS know your worth!
Don't let what others are charging dictate your rates.
I don't care if someone has 10x — hell 100x your subscriber base, and charges less than you do.
Know your value and what you have to offer.
And NEVER look at what others are charging or willing to accept when it comes to setting your own rate.
If a brand sees what you're charging and scoffs at you — pay no mind.
Because there are brands who will work with you because A. They have the budget and B. They see the potential value that you can bring. Those are the brands that you want to work with. Where there's a mutual understanding and respect.
Remember, as former First Lady of the US, Eleanor Roosevelt once said, "no one can make you feel inferior without your consent."
If someone tries to knock you down a few pegs by saying you're not worth that much, they're probably not worth doing business with.
You want to work with brands that respect you and know what you can bring to the table.
You want brands who will respect you even more because you know what you're worth and aren't afraid to charge as such.
Be unapologetic.
In the end, rates are not one size fits all.
Rates are fluid and dependent on perceived value that you offer.
And trust me, you offer a lot more than you realize.
Let me wrap this up by saying (I can't stress this enough) — Know your worth and approach every brand deal negotiation with that top of mind.
You owe it to yourself.
No go out there and make a deal that's worthy of your time and energy.
View all episodes
By Khoi NguyenDo you struggle in negotiations with brands?
Here's what Khoi recommends you do to set yourself up for success.
Transcript Below:
Always know your worth.
If you don't know your worth then you will always charge too little.
You are worth way more than you think.
In fact, I recommend to charge more than you think you are worth.
It may feel uncomfortable, but in this game — you've gotta get comfortable with being uncomfortable.
You don't know what others are willing to pay you — until you test the waters.
It's a negotiation. Both sides are trying to get the best deal possible.
My advice is to reach for the stars and throw out your loftiest numbers.
Continue raising your rates until no brands are willing to meet you at that number.
Then you can go down from there.
But always, always, ALWAYS know your worth!
Don't let what others are charging dictate your rates.
I don't care if someone has 10x — hell 100x your subscriber base, and charges less than you do.
Know your value and what you have to offer.
And NEVER look at what others are charging or willing to accept when it comes to setting your own rate.
If a brand sees what you're charging and scoffs at you — pay no mind.
Because there are brands who will work with you because A. They have the budget and B. They see the potential value that you can bring. Those are the brands that you want to work with. Where there's a mutual understanding and respect.
Remember, as former First Lady of the US, Eleanor Roosevelt once said, "no one can make you feel inferior without your consent."
If someone tries to knock you down a few pegs by saying you're not worth that much, they're probably not worth doing business with.
You want to work with brands that respect you and know what you can bring to the table.
You want brands who will respect you even more because you know what you're worth and aren't afraid to charge as such.
Be unapologetic.
In the end, rates are not one size fits all.
Rates are fluid and dependent on perceived value that you offer.
And trust me, you offer a lot more than you realize.
Let me wrap this up by saying (I can't stress this enough) — Know your worth and approach every brand deal negotiation with that top of mind.
You owe it to yourself.
No go out there and make a deal that's worthy of your time and energy.