How To Recover When Lowballed Oneself?

[spinstermanquee]

Independent consultants out there:

 

How do I recover when I inadvertently lowballed myself for six months of project consulting & design work? I didn't know the particular industry and it's not as technical as the work I am doing now, so I named a lower figure and they snapped it up. As soon as they did that without bargaining I thought I asked for too little... it's like 40% less than what I get for the techie stuff... man I shot myself in the foot.

 

So I am thinking, do the work and if they like me (which I am sure they will), ask for a little more for my next project? I haven't signed anything yet but don't want to start off on the wrong foot...

 

Any advice from seasoned pros out there will be greatly appreciated.

 

Thanks!

 

W

[avman]

I've had this happen to me in the past. I asked for a 20% rate increase when my contract renewed because they had me doing work far in excess of what I had originally bid. The vice president practically fell over himself to say yes. Later I realized I should have been asking for a 100% increase.

 

Treat it as a lesson learned and experience gained. You mentioned you didn't know the industry so you'll gain some valuable knowledge. If they like you and want you for more work then you can ask for an increase.