Digging Deeper - Understanding What's Really Going On
I was working with a copywriter the other day who mentioned he charged the same for re-working an article as he did for writing one from scratch. A small project, but for him, this type of work was the doorway to larger, ongoing engagements.
However, the reality for him was that it took the same amount of time and it didn’t make sense for him to continue losing money on the re-work projects so he’d started charging the same.
And he did the right thing. He looked at reality of the situation and made a business decision based off that reality rather than operating with blinders on.
The issue with his particular solution was that caused new problems - it set him apart from his competitors who were able to charge different, more competative rates and he’d started to lose business.
He was in a bit of lose-lose situation: lost business with it, lost money without it.
So what do you do?
Because this is not an uncommon situation.
The realities of what it costs you to deliver work can often not match what your customers are willing to pay, or what your competitors can charge.
Running projects at a loss is generally not an advisable strategy and yet unnecessarily turning away work and potential new clients doesn’t help your grow a business either (I say unnecessarily here because there are times when the best thing you can do for your business and your bottom line is turn certain clients away, but that’s a different story!)
The key is working out HOW you can deliver your work at a price point that’s competitive while still making your margin.
Sometimes we need to look deeper than just what’s happening on the surface.
We need to understand the conditions under which the problem occurs. What are the triggers? What are the themes?
We need to do some digging to find out what is really going on so you’re solving the REAL issue…