Master Negotiator Shares Tips On How To Renegotiate A Contract And Win

For independent contractors, negotiating contracts can feel pretty overwhelming since these agreements are crucial for their work. No matter if you’re a pro or just getting your feet wet, mastering the art of renegotiating a contract can boost your career. By using the right tactics, you can strengthen your relationships with clients and ensure more job opportunities down the line.

For freelancers and contract workers, contracts serve as the cornerstone of your professional relationships. They outline essential aspects such as the tasks you’ll undertake, timelines, payment conditions, and additional details. According to a survey conducted by Forbes, only 37% of millennial women negotiate their salaries, even though negotiating can lead to significant pay increases. For freelancers, who don’t have automatic pay raises, renegotiating contracts becomes even more critical.

Shakiera Davis Miller, a seasoned negotiator and contract consultant at Kovar Management, offers the following tips for the most effective strategies for renegogiating a contract.

Before you kick off any renegotiation, it’s very important to collect some data first, she said. Check out the current market rates for what you offer, take a good look at the scope of work, and get a grip on the client’s budget limits. Having this info will help you back up your requests. “Clients love it when you show up with solid facts,” she added. “It demonstrates that you’re professional and genuinely care about your work.”

Choosing the right moment to renegotiate is key. It’s best to bring it up before you sign the contract, but if that doesn’t work out, try to find natural points in the project to discuss it. “Don’t wait until the project wraps up to renegotiate. By that point, it’s usually too late, and clients may not be open to changing the terms,” she suggested.

When renegotiating, clarity is your best friend. Just say what you need, whether it’s higher pay, longer deadlines, or extra resources. Be sure to present your requests in a way that shows how everyone wins. For example, if you need more time, share how it will improve the quality of your work. It’s all about confidence—trust in the value you offer, and clients will be more open to your terms.

Clients are more open to renegotiation when you come up with solutions instead of just pointing out problems. For instance, if the project has expanded, you could recommend cutting back on some tasks to keep costs down or suggest breaking the project into phases with extra payments linked to certain milestones. “Being solution-oriented not only makes you seem more professional but also strengthens your relationship with the client,” she said.

Sometimes, the best negotiation tactic is knowing when to walk away. If the client is unwilling to meet you halfway and the contract no longer serves your best interests, it might be time to part ways. “Walking away isn’t a failure; it’s a strategic decision to protect your time and value,” she emphasized. “And often, the mere possibility of losing a valuable freelancer can prompt clients to reconsider their stance.”

Once you’ve agreed on the new terms, ensure both parties document and sign everything. This protects you legally and ensures that there’s no confusion later on. “Always have a written contract, even if it’s just a short addendum to the original agreement,” she said. 

Renegotiating a contract doesn’t have to be intimidating—it’s an essential skill for freelancers and contract workers looking to be fairly compensated for their work. By doing your research, choosing the right timing, communicating clearly, and being solution-oriented, you can confidently approach contract negotiations and ensure the terms reflect your true value. Remember, it’s not just about getting what you deserve; it’s about building long-lasting relationships with clients who respect your work and want to see you succeed. With these strategies in your back pocket, you’ll be better equipped to renegotiate contracts and win.