One of my favorite Yiddish words is \u201cschnorrer.\u201d While it means beggar or sponger, it essentially refers to a cheapskate who tries to get something for nothing. There is nothing wrong with potential clients negotiating fees to get a bargain. I often offer discounts as long as clients ask and their requests are reasonable.<\/p>\n
However, it\u2019s important to draw the line somewhere because my work and effort deserve compensation. What distinguishes someone seeking a discount from a schnorrer is that a schnorrer often disregards how insulting their behavior may be. A perfect example is selling sponsorships for That 401(k) Conference. If people book multiple events and request a discount as new sponsors, I am generally open to reducing the $1,500 speaking fee per event. However, when a plan provider invited me for lunch at their private club and claimed they only had a budget of $250 for my $500 supporting sponsorship, I declined. Don\u2019t invite me to your private club while claiming to be on a tight budget.<\/p>\n
Dealing with chiselers is part of business, but you have to recognize when an offer is too insulting or low. In those cases, it\u2019s better to walk away, as you know you might face difficulties with them every step of the way.<\/p>\n
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