During an e-mail correspondence with a subscriber this week, I was alerted to an essential topic for the newsletter: how the economy has trickled down to impact service providers.
This particular subscriber is a service provider and mentioned that the economy hadn’t impacted business as much until recently when clients who had been laid off and hadn’t found new jobs were unable to continue to receive services.
Ouch. I knew this subscriber wasn’t alone, so I wanted to address this issue in the article this week.
While I know we are all up on our wealth consciousness and reading whichever books and listening to whatever recordings keep us upbeat and motivated, this is still a challenging time. And for many of us, we may just be starting to feel it now.
As service providers, we depend on an economy that supports people with an income that allows them to afford us. When our clients lose their incomes, where does that leave us?
Often with fewer clients and a scarier balance sheet.
What to do with this problem?
Often, the sad part is that our services are never more valuable than in this kind of stressful period of time. Finding ways that you can offer services in new and inventive ways that are affordable to the client and aren’t too much of a drain on you can often be a good solution:
For example, the Quirk Tank is a solution to help more business owners find their quirk at a lower price point so that they can benefit from the information. Is there a way to offer your services or information at a lower price point to a larger audience? If service must be given one on one, can there be a smaller option of time… for example a 15 or 30 minute session for a coach at a lower price or in order to get quick support: a quick support package might keep clients who depend on you able to get the help they need.
Also, developing an info product, such a series of videos available to members on your website, or a video and e-book course can be a way to transmit information to those who can’t afford your full price services.
Two good questions to ask over and over again are:
Who needs me most right now who can’t afford me?
How can I offer them something of value that doesn’t drastically lower what I need to make per hour?
We’d love to hear any and all suggestions you have on this topic or successes you have had in solving this issue… please share them with us on the blog!
And anyone else who has topics they would like to see addressed, please do write to me as this reader did… we love to serve you and give you the information that you want and need!
Keep up the good work. It’s a tough time, in many ways, but this can also be an amazing way to find new ways of offering your value in new ways…