From the course: Running a Design Business: Designer-Client Agreements

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Talking money: General tips

Talking money: General tips

From the course: Running a Design Business: Designer-Client Agreements

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Talking money: General tips

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Be straightforward about money and how you charge for your services. Make sure that all the financial aspects of the project are clear in your contracts, then make sure your invoices match your Designer-Client Agreements, and any change orders you provide. Financial consistency will facilitate, smooth sailing, and prompt payment from the client. Make sure to communicate financial information verbally, as well as in writing your agreement. There are two categories of money that you need to cover. Fees, which are the designer's compensation for their labor and expertise. Design fees are typically fixed and are only revised with the change order due to additional scope of work; and estimated expenses. These are the out-of-pocket cost for things purchased specifically for the project. All expenses are subject to the industry-standard markup of 15 to 25%. Don't be afraid to ask for what you need. If you have issues talking about money, practice with a friend; describe the project, state…

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