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TimeFox Timesheets AboutTime Newsletter - November 2004
Win Without Pitching
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Testimonials

"Are you kidding? We are addicted to FunctionFox. We love your product and can't live without it"

Karen Carpenter
President, eCity Corporation
www.ecitydesigngroup.com
"Awesome. You guys have been great and your product has really changed my business life and made us all a lot more profitable!"

Adam Nisenson
Active Imagination
www.aimagination.com
"TimeFox is ideal for my PR business because it makes it easy to track my time, produce detailed reports, track time against estimates and do my month-end billing. In my business, time is money. TimeFox helps me save time and make more money."

Karen Speirs
Independent PR Consultant
Welcome
 
FunctionFox provides a tool that is designed for recording time and expenses, estimating, and analysis of productivity and profitability. Visit www.functionfox.com for more information.
 
Article Index
 
Feature Article: How Professionals Negotiate Price
October FoxPoll Results: Understanding the Numbers
Advertising and Design News
FunctionFox Referral Program
Contact FunctionFox
 
Feature Article
 

How Professionals Negotiate Price
By Maria Piscopo

Pricing is one of the most complex and grueling aspects of the design and illustration business. You can read the books and go to the seminars, but at some point you have to talk to clients. We asked creative professionals what price-negotiating techniques work for them and how they find common ground with clients and agree to a price. Whether you are an experienced professional or just starting out, these tips and techniques will give you a much better grip on pricing and the negotiation process.

"Perhaps the best pricing technique we've discovered is to write a good proposal," says Ed Brodsky, a partner at Lubell Brodsky Inc., a past president of the Art Directors Club, and a faculty member at School of Visual Arts, NY, "We start a proposal by restating the criteria for the project. This reminds everyone—including ourselves—what it was we agreed to try to accomplish. Next we explain what we plan to do in broad, general terms. This is followed by a more specific list of the work we intend to do, a price for each of these procedures, and a total. We almost always end the proposal by telling the client how excited we are to be considered for this interesting project and some of the benefits we expect the client to realize from our efforts. Perhaps the biggest advantage of writing a good proposal is that after we write it we often realize that the project can command a much larger fee than we initially thought. This alone covers the cost and time of writing the proposal and also has become the main reason we have successfully been able to raise our fees." More...

Maria Piscopo is the author of The Graphic Designer's & Illustrator's Guide to Marketing and Promotion (Allworth Press, www.allworth.com). She also teaches the Managing Creative Services course for design professionals for Dynamic Graphics Training (www.dgusa.com/training).

Reprinted with permission of STEP inside design (www.stepinsidedesign.com). Click here for a free trial issue.

If you have an article that you would like to share, please contact us toll-free at 1.866.369.8463 or email info@functionfox.com.

 
October FoxPoll Results: Understanding the Numbers Back To Top
 

Last month, we asked our subscribers how much of their company's time is usually spent on billable tasks, and how much on non-billable. 35% said that their company bills 75% of their time, leaving 25% un-billed. 29% of respondents have an even 50/50 split between billable and non-billable time, and 27% bill only 25% of their time, leaving 75% of their time unbilled! 9% of those who responded didn't know how much of their time was billable.

Why should I pay attention to whether my time is billable or not?

An accepted industry standard is that billing 65% or more of your working hours enables a business to remain profitable. If you consistently bill less than 65% of your time, you could be losing out on profits without even knowing it.

What can I do to take advantage of those potentially billable hours and increase my profits?

In real estate, there's a maxim "Location, location, location". If the location is right, you're more likely to make money on the deal. For companies like yours, the maxim should be "Track your time, track your time, track your time!" If you keep careful track of all your time – billable and non-billable alike, you'll have the ability to find 'time leaks' and fix them before they erode your profits.

Take a challenge and see how efficient your company is when it comes to billing. Simply use our billing efficiency calculator at http://www.functionfox.com/resources/productivity.asp and answer six simple questions, we'll calculate your billable efficiency immediately and give you some indication of what that means to your firm.

Is billing what you're worth important to you?

 
Advertising and Design News Back To Top
 

I.D. Annual Design Review - Call for Entries
Submit your winning design by December 1, 2004. Entering is the simplest way to gain worldwide exposure for your finest work, and it's your best bet for getting published in I.D. magazine.

Click here for information on entry categories, submission fees, guidelines, and instructions—and to enter the competition, of course.

 
FunctionFox Referral Program Back To Top
 

If you refer someone to FunctionFox, and they purchase a TimeFox subscription, we'll give you a month's subscription to TimeFox FREE! Refer 12 new customers, you'll get a whole year's subscription FREE!

Don't miss this chance to pass the word and realize considerable savings!

Here's how: Ask the person you refer to enter your name/company under 'Referral (Client or Friend)' when they sign up for a free demo at www.functionfox.com/demo or tell a friend at www.functionfox.com/referral_program.

 
Contact FunctionFox Back To Top
 
For a free TimeFox Demo, go to: www.functionfox.com/demo/

To order a TimeFox subscription, go to: www.functionfox.com/purchase/

If you would like your company to be featured in a TimeFox newsletter, on our web site or in our promotional package, please send your request to: corina@functionfox.com

You can unsubscribe from our About Time Newsletter mailing list at: www.functionfox.com/newsletter/unsubscribe.asp
 

FoxPoll

The aspect of my business that I would most like to improve for the year 2005 is our:

client relationships

staff productivity

billing efficiency

not sure

Click on your answer to participate in the FoxPoll or do so at: www.functionfox.com

TimeFox Info

- Pricing
- Quick Tour
- Info Package
- Articles
- Newsletter Archives
- Referral Program
Our online tool can tell you in minutes whether your company is billing as much as it should be.

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FunctionFox Systems Inc., 590 Beaver Lake Road, Victoria, BC, V9E 2J7