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A 5 minute chat changed how I handle retainer contracts
A bookkeeper friend told me I was leaving money on the table by not charging for revisions in my retainer. I added a clause for 2 rounds included and $75 per extra round, now my invoices are steady for the first time in 6 months. Has anyone else adjusted their retainer terms after a quick con with someone outside your field?
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wesley6394d ago
Yeah, that bit about "leaving money on the table" hits close to home. I did the same thing after a tax accountant buddy pointed out I was giving away all my time for free with unlimited tweaks. Now I charge a flat fee for the first two revisions and $50 per extra hour after that. It's crazy how a simple outside perspective can fix a hole you didn't even see in your own model.
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thomas.river3d ago
Fifty an hour is steep for tweaks though
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The part about "a quick con with someone outside your field" really stuck with me... I had a similar thing happen but it was my neighbor who runs a small auto shop. He pointed out that I was treating my retainer like a warranty instead of a service plan. I switched to a "use it or lose it" model where clients get a set number of hours per month and anything unused just doesn't roll over. It forced them to actually plan their requests better and stopped the last minute panic emails.
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