On today's episode of the Freelancers' Show, Curtis, Philip, Jonathan, and Reuven discuss Rusty Screws. Tune in and discover what the episode is all about and how they connect Philip's experience to hiring freelancers.
The Story of Rusty Screws
Philip and his wife got someone to do their deck but ended up discovering the man took some shortcuts in the process without consulting them. The screws used in the construction were the cheapest ones, and consequently, half of those started to rust after 6 months. They trusted him since he's the expert and considering his reasons with regards to the budget.
As a result, his wife went out for an hour a day unscrewing those rusted screws numbering around 2,400 pieces. Not only they have wasted money, the time spent in building their deck was also spent in vain. This made Philip think of customized project offers or any kind of freelance work.
Weighing Premium and Compromise
What Philip and his wife just had in mind was that they simply wanted to have the deck built. With a blind eye, they accepted whatever their hired contractor presented to them, considering the materials and cost. Had they gotten personally involved in the construction things could have resulted positively.
Prior to the cheap contractor, the couple spoke to a more expensive one. The screws he recommended were probably the most expensive ones. However, his price was twice as much as the cheaper one. They were torn between either going for the premium or compromise approach.
What set the cheaper contractor apart from the expensive one was the convincing ability.
Fixed Rate Issues
Take up a scenario where you give a fixed rate of $50,000 to a client to do mobile web redesign. Deadlines are often set, but they are hardly met, as there are things out of control, and wrong expectations are often raised. The idea of signing off is not ideal for projects because they don't launch off and are perfectly finished.
In setting up fixed rates, it is important to lay out how much work is needed and how to satisfy the customer. You have to guarantee him that you won't be lost in the middle of the work. The combination of a satisfaction guarantee and a good fixed price for the work aligns incentive for both the client and the freelancer.
To hear about Rusty Screws, download and listen to the entire episode.
Philip, Jonathan, and Reuven would surely love to hear from you! Don’t forget to let them know you heard about them on Devchat.tv’s Freelancers podcast!
If you’re short on time, here are the highlights of Rusty Screws:
Why Rusty Screws? (1:45)
Weighing premium and compromise approach? (4:44)
Fixed rate issues? (7:00)
Balancing fixed price and guarantee? (11:03)
Choosing the best interest of clients? (17:23)
Winning someone's trust? (29:18)
Working on the budget? (35:33)
Hardest part in negotiating? (48:10)
Jonathan: Seiko SRP777 Dive Watch
Philip: Hitachi 18V Drill