It’s happened to every service provider at one time or another—probably more than once. You offer a proposal or contract, only to have your potential client respond with, “That sounds great, but I can’t afford it.” What do you do? For a lot of service-based businesses, the first response is to lower their rate. After all, they reason, the client really does need my help. Plus, it’s good karma, and they’ll talk about me with their friends, and refer business to me later.
As you may know already, real, effective networking takes a lot of time and effort and although the least costly of all marketing strategies, it can be costly, especially for businesses that are really struggling and do not have 2 cents to rub together. Coffee meetings and networking events do cost, even though generally minimal.
I am right in the middle of renovating my home right now. If you have ever renovated a living space, one thing you will learn quickly is that you wish you had made all the changes you wanted to before you moved in, however, that is not always possible. It is only after living in a space for some time that you discover what you do and don’t want. The same applies for your lifestyle and your business. Life or business make-overs do not always go according to plan and just like the renovation of your home, it can lead to much stress when setbacks and unexpected expenses occur while you’re knee-deep in your renovations. I, however, have learned that by keeping your eye on the vision of what it will look like when finished will get you through the thick and thin of it.
In business today we have an unlimited amount of information at the push of a button! If you want to learn how to get clients, market your business, capture your finances or start up or grow a business there are in effect... Thousands and thousands of pages of information, of programs, of courses and workshops, or conferences, special events…
It might just be the most stressful decision you ever have to make: what to charge? You’ve got the competition to consider, or maybe not. If you are very credible and have enough evidence of that in the form of repeat business, charge what you know you are worth or another way to do this is charge the value of what you are delivering to the client. Write down all the things you do for your clients and what value that adds to their life and business and then put a number to that value. Other aspects to consider are your own skill set, what you perceive to be your skills (yes, this is different from the former for most of us), what your market will pay, your location, and a host of other variables. Working it out can feel like a hurdle you can’t quite get past, but the more informed you become, your answer starts jumping out at you.