I don’t know about you, but I never found the Magic 8 Ball that would tell me what my clients value the most. Sure, I can make educated guesses. But what I have learned over time—and from talking with many coaching clients—is that generally we are way off when it comes to what our clients care the most about and are willing to pay us well for.
Today’s Wall Street Journal has a nice column by Elizabeth Bernstein on the use of “I’m busy” as a point of pride. (It’s behind the paywall at wsj.com/articles/youre-not-busy-youre-just-rude-1489354275. Seriously, consider a subscription; it’s a great newspaper. You may not always agree with the editorial page, but the reporting is high quality and neutral. These days, we need to support real journalists.)
According to Bernstein, studies have found that “busier people are perceived as having a high status. ‘We place a high value on hard work and rewarding effort, which is really rewarding activity and not necessarily achievement,’ says Woody Woodward […] Bernstein encourages us to stop using “busy” as a positive description but, instead, to focus on what specifically is eating up our time—and, just as importantly, to own our free time as rightfully ours.
I was chatting with a friend the other day who, among other things, is a professional wallpaper installer. A local hotel had contacted her and asked for a bid to redo all the wall coverings in their halls. She knew that her price would be higher than others in town; in fact, she knew that her client was getting competing bids. But as we talked, she thought through what her client was actually paying for.
One of the scariest things a solopreneur has to do is start the discussion of how much a project will cost. You might be having a great conversation with your client, in which you learn everything your client needs and you figure out how you can delight your client with your deliverable. Then comes the big moment where one of you has to start talking about cost….
Do you choke?
I’m from Boulder, where there seem to be more professional rock climbers than people like me who like our feet planted firmly on terra firma. Whenever I drive up a canyon, I can see the tiny figures of people halfway up a sheer rock face, appearing to defy both gravity and common sense.
Our local newspaper has a regular column for rock climbers and a recent one caught my eye. Chris Weidner, in “Don’t just get stronger, get smarter“, offers four tips for mental toughness that seemed directed at us solopreneurs as much as it was to those about to scale the side of a mountain.
I have often wondered about why some people succeed as solopreneurs and others don’t. Almost everyone I run into has at least the basic skills needed for their business; it isn’t that they can’t do the work. Rather, I see attitude and approach as the distinguishing factors between successful business owners and those who never seem to get the traction they need.
I used to advise new solopreneurs to invest in a professionally-designed logo – something that reflects well on their business and conveys a certain permanence. And while I have one that I use for invoices and proposals on letterhead, I haven’t used a logo on a business card for years.
Summer is a slow time for many solopreneurs; our clients are on vacation or taking Fridays off, and they just aren’t calling as often as they do during the rest of the year. That means that many solopreneurs are facing a cash crunch this summer. Our recurring expenses — utilities, ISP, health insurance, etc. — still need to get paid, but the income isn’t coming in. If you were able to anticipate this slow-down, you put money aside to cover your basic expenses when your income is not coming in. But even with preparation, it’s nice to get the cash flow going again. The following are a few thoughts on how to ease cash crunches.
I just saw a car with a large sign for a local housecleaning service, The Cleaning Fairies. The tag line was perfect:
We give you your weekends back !
I live near Boulder, and there’s nothing Boulderites value more than free time we can spend in the mountains — skiing, hiking, kayaking, climbing, biking — anything to enjoy our 300+ days of sunshine every year. (And yes, when I saw their car, I was playing hookey and on my way up to the mountains, just because I’m self-employed so I can.) The message I took from the tag line is “I know how much you value your free time, and isn’t that worth way more than the cost of a cleaner?”
What better way to sell the value of your service than by reminding people of a better way they could be spending their time?
How do you describe your service to prospective clients? Do you talk about what you do or how you do it, or do you talk about the amazing thing that happens when you are done? And see this post about understanding and speaking effectively about your value.