Don't Ask Brands for Their Budget; Ask for a Budget Range

At the end of your discovery call, if the brand somehow backs you into a corner and says, "So, how much do you typically charge for this kind of thing?" you must avoid coughing up a number you'll later cry/curse about in the shower.

Instead say,

"Thank you again for this call, as it's been super useful. I need time to think through everything, and then I'd love to get back to you with a custom proposal. Typically, I like to put together 3-4 packages to help you envision how we can bring this partnership to life. Do you have a sense of what I should set those 3-4 tiers at from a budget feasibility perspective?"

And then…shut up.

Don't say anything.

Lean into the silence.

I (as well as hundreds of my students) have used this exact method countless times, and one of two things will happen:

75% of the time the brand will tell you their budget range!

They'll say something like, "$1K, $2K, $3K" or, "$15K, $30K, $45K."

The brand feels more comfortable sharing because they now have wiggle room to modify the amount they'll ultimately pay you, if necessary.

You'll also learn:

• Roughly where to set the minimum investment for Package 1

• Roughly where to set the investment for the top Package (it should be above the highest range they gave you!)

• How much time you should spend on the proposal (If I hear $10,000 vs. $100, I'm definitely putting in some extra hours)

But what about the 25% of the time when brands won't tell you their budget range?

My unscientific advice in these scenarios is to set the investment for Package 1 at your "Hell Yeah" number.

If the brand chooses Package 1, you should say, "Hell Yeah, let's do this!"

Not, "Aww bummer, I was hoping they'd pick Package 4. Now I have to do this."

The last thing you want is to start resenting the brand at the very outset of the collaboration.