Back to Basics – Week 9: The budget conversation that changes everything 💰

Picture this: You’ve just had an amazing sales call. The prospect is excited, you’re excited, and they’re practically begging you to send a proposal.

So you disappear for days (maybe weeks) crafting the perfect scope of work. You pour your heart into it, price it thoughtfully, and hit send with high hopes.

Then… crickets.

Sound familiar? Here’s what likely happened: You skipped the most important conversation of your entire sales process.

The money talk.

I know, I know. Talking about budget feels awkward. But here’s the thing I’ve learned after 20+ years in sales:

Your time is too valuable to waste laboring over proposals when you have no idea if your prospect can afford what you’re offering.

It’s like shopping for new clothes without being able to see the price tags. How would you feel about putting all the time and effort into curating outfits, only to find you can’t afford the haul when you make it to the cash register? 

So much time and energy wasted, and everyone involved feels totally awkward. You’d likely want to quietly and quickly slink away from the counter, which is likely why some of your prospects are ghosting you after you send the proposal!

➡️ The hard truth: If you don’t know their budget parameters, you’re gambling with your energy and their expectations — and ultimately, the sale.

Ahead of preparing a proposal, follow these best practices to talk budget like a pro:

First, ask a straightforward question:

• If you know they’ve been planning for this investment, or if you sell a service they’ve purchased before: “Do you have a budget earmarked for this work?”
  
• If it’s obvious they wouldn’t have a confident budget carved out: “It sounds like this is your first time investing in work like this — let’s talk about budget so that I come back with a proposal that will suit your needs. Have you considered a comfortable investment level?”

If they don’t know what things cost, educate them: “That’s totally understandable — most organizations haven’t bought exactly this before. Let me give you some context on the market. You could work with freelancers at around $X, full-service agencies at $Y, or specialists like me who fall somewhere in between at $Z. Here’s why that positioning makes sense for what you’re trying to achieve…”

Then get a preliminary thumbs up: “Based on our conversation so far, I’d estimate our engagement falling somewhere between $X and $X — does that feel like something you’d consider?”

Now here’s the crucial part: Zip your lips and let them respond!

If they gulp and say that’s way more than expected, don’t panic. Ask, “What range feels more comfortable?” (You can likely adjust scope, timeline, or deliverables to find a sweet spot.)

Keep this in mind: Sometimes prospects simply can’t afford your services — and that’s perfectly okay. They’re unqualified for your business at this time, and you can kindly release them from the process. This isn’t failure; it’s efficiency.

A strategic adviser doesn’t avoid tough conversations — they facilitate them. Your prospects will respect your professionalism, and you’ll save yourself from the heartbreak of proposals that never had a chance.

Your homework: Before your next proposal, commit to having the money conversation. Your future self (and your prospects) will thank you.

P.S. I always tell my clients: It’s better to lose a deal early because of budget misalignment than to lose it after you’ve invested hours of unpaid labor. Protect your energy like the precious resource it is!