Category Archives: Efficiency

7 Tips to Finding a Mentor

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Hello, this is Laura Lee Rose – author of the business and time management book TimePeace: Making peace with time  and The Book of Answers: 105 Career Critical Situations– and I am a business and efficiency coach that specializes in time management, project management and work-life balance strategies.  Steve Wynkoop and I talk a lot about designing and managing our professional careers on a weekly interview on SSWUG TV.

The IT Professional Development Toolkit DVD goes into further details on the who, what, where, when, and why of these topics.

Most successful people believe having a mentor greatly helps them stay on target and even excel quicker.

But how do you find a mentor, particularly with someone who you might not have a relationship
with yet or resides in another location.

7 Tips to finding a Mentor

1)      Outline the items/areas that you are interested being mentored or coached.  There may be several areas that you are interested in.  So – don’t feel that one mentor has to fulfill all areas.  You can have one mentor for “how to better market yourself in your organization”.  You can have one for “how to increase my technical expertise and influence in the organization”.  You can have one for “how to step more into the spotlight in trade-shows, user conferences, speaking engagements”  You can have one on advice for starting your own business.

2)      Once you have your areas outlined – talk to your manager about wanting to improve these specific areas.   Ask your manager’s advice on who in the organization would be good mentors in those areas.  Ask your manager if he/she would provide a warm-introduction (simply touch base with that  person to see if they are open to something like that).

3)      Do the same with your HR representative.  Share your desire to get a mentor with your HR representative.

4)      Ask co-workers and friends if they have been a mentor, have a mentor or have a recommendation on one.

5)   Attend your professional association meetings, networking groups and subscribe/read your industry magazines.  Be on the lookout for people giving relevant presentations/talks at your professional networking groups OR authoring articles in your industry journals.   Introduce yourself by telling them how much you enjoyed their presentation or articles.  Discuss various points that you really connected with.  These are great ice-breakers.  Tell them that you would like to interview them for your article, blog or newsletter. During your interview, share your professional goals – and ask their advice on how to find a mentor in their specific area.

6)   Repeat the above for other experts in your areas of interests. Start adding these contacts to your LinkedIn or Facebook space.  Reciprocate and ‘Like” and provide positive comments on their businesses.  Go out of your way to give them testimonials and endorsements on their pages.  This helps keep you on their radar.

7)      Make use of your facebook and  LinkedIn.com connections.  Do a search/review of your network to see if they have the qualifications necessary to be a guide.  You mentor doesn’t need to be in your current organization or company.  It is actually beneficial to expand your reach beyond your current company.  When you find someone that you want to reach out to – simply state your goal, and that you admire their accomplishment.  Be specific on what you really like about their background and achievements, highlighting any commonalities between you and them.  Admit that they seem to be in the perfect position to suggest a possible mentor.  This gives the person an “out” without alienation.  If they want to mentor you, they will often suggest themselves and a meeting time.  Otherwise, they may offer to connect/introduce you to someone else.  Either way you win.

This last point is MOST important.  Reciprocate either by paying them for their time and expertise; gift their family dinner/theater/entertainment tickets; offer your services in the areas of your expertise, etc.  Avoid taking without giving back.  Otherwise, you run the risk of over-extending your welcome.  And you really want to develop a long-term working relationship with these masters.

In my IT Professional Development Toolkit, I go into the: who, what, where, when and how to accomplish all of the above.   For more information about the toolkit, please contact

 

vConferenceOnline.com/Bits on the Wire, Inc.
6420 E. Broadway, Suite A300
Tucson, AZ 85710
520-760-2400 or (877) 853-9158
info@vconferenceonline.com

 

 

Or sign up for my weekly Time and Career Management Newsletter at: http://eepurl.com/cZ9_-/

 

How small business’ can raise prices without alienating clients

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Most small business owners often underbid their services to better attract sales.  Once established, they take too long to raise their prices.  The fear is that they will lose their current client base, and therefore lose money.  How can small businesses raise prices without alienating or losing clients.
Some of the more effective methods for small business’ to raise prices without alienating are:

1) Announce price raise well in advance, as well as the reason for new rates.  Include additional benefits to them that you are being added in your descriptions.  You can also offer a “lite” version at the original price – so not to loose any clients

2) Offer “Grandfathering-in” at original price for a limited time.  Anyone purchasing the service before that date will get it at the original price.  Offer a loyalty program such that clients that continue with you (either via a retainer, or subscription membership) will remain at the original price for 1-year.  Any break in service will revert to new price.  Any new clients entering after XXX date will pay the new higher rate.  This entices ‘on the fence’ customers some incentive to purchase ‘now’.

3) Offer a Club Membership Subscription – such that a reasonable membership fee will guarantee the original price as long as they are members in good-standing.

4) Offer a referral program that allows the customer to get compensated for bringing in new-paying clients.  Anyone bringing in new paying customers  get the original rate as well as the new customer.

5) Offer an advertising program that allows customers with their own facebook social media,  newsletters, blogs and websites receive the product/service at the original price.  Create a contract that requires the client to advertise XX times a quarter on their various social media wall, newsletters, blogs, and websites.  As long as they fulfill the advertisement contract, they pay the original rate.

Remember the goal of “price increases”:  You are increasing your rate to make more money.  If you can make more money doing other things, then you have been fairly compensated.  If you can reduce marketing costs or other overheads (allowing the customer to help with those tasks), then you can afford to compensate the client by giving them the original rate.

Giving the client options to stay at the original rate often eliminates the alienation feeling.  This way, the client is the one selecting the price they are willing to pay.

Create a campaign and marketing plan around your strategies. Use it as a catalyst event.

1) Make your “price change” announcement at least 3 months advance to encourage new clients to purchase at the lower prices.

2) Roll-out your loyalty programs and referral programs at least 2 month’s in advance.

3) Call (or visit) your high-influential, high volume  clients to discuss the price changes, the reason for them, the grandfather/membership plans, etc.  Allow your clients to choose how they want to participate.  This also allows you to give them a free membership or subscription to lock them into the lower rate.

4) One week before price change, remind folks that some of the discount offers will expire on the rate-change date.

5) Do a count-down a day before the event.  Make the price change an actual event.

How to attract the clients mostlikely to pay your price for your products and services

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How can small companies  reach the types of customers most likely to be willing to pay their  prices for their products and or services.
Individuals normally hang-out with folks that  are within 20% of their own salary range.  If we want to improve  our social-economic standing, we need to associate with the same income level  that we want to achieve.
We can use this knowledge in attracting the clients  that you want. 
1) Be clear and explicit in your target client  description.
    Include in your description: 
  • yearly income
  • type of neighborhoods they live
  • the size and price of the homes that they would   typically live in
  • types of hobbies
  • types of charity events
  • type of cars, boats, premier   service they use
  • type of transportation that they normally   use
  • type of events and meetings they attend
  • type of restaurants, parks, activities that they   take advantage of
  • type of magazines that they normally subscribe   
2) Then start networking and showing up at the same  places.
  • Volunteer at the charity events that   your target clients normally attend.  Pick a position that allows you to   connect and interact with your target client.  Don’t accept a position   that keeps you in the background. Since you are volunteering your   time,make sure that the ROI is to your advantage.
  • Become the program committee chairman at some of   the associations and events that they atend.  Being the program chairman   of these types of associations gives you an easy ice-breaker.  You can   then invite them to speak or attend these gathering as a way to introduce   yourself and your service.
  • Get in the position to invite some of your target   clients to speak or present at a special and prestigious event
  • Attend some open-houses of the type of homes they   would buy
  • Put on a free event in the club-house of their   neighborhood or resort/golf-club that they would normally attend
  • Get in the position to speak (or even just   introduce/MC) at some of the events and meetings that they normally   attend
  • Facilitate or organize the type of charity   event or catalyst event that they normally would attend.
  • Attend boat shows and car shows that they would   normally attend
  • Advertise in magazines that they would normally   purchase.
  • Write articles or columns in magazines or   electronic magazines that they normally read
  • Write “letters to editors” and comment on articles   that would interest your target client
3) Where ever you show up, make sure you are adding  value to the interchange
4) After you have built a relationship  with a few of your target market — ask for referrals. Even though  they may not need your services at this time, they may have friends and  neighbors that would be interested.  Remember, they will also hang-out with  folks that are in their same social-economic standing.

What’s the Bravest Thing You’ve Ever Done At Work?

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The Bravest Thing You’ve Ever Done At Work
Although I’ve done many brave things at work, this  was the most unforgettable because it not only hits an uncomfortable  topic – but shows how a truly, integrity-based company responds when  something is pointed out to them.
I was a manager of 12 developers and testers  at the company; and had just received a glowing performance review  rating.  Since I was a manager, I understood how the raises were  calculated based upon my review rating and current income.
My manager looked very pleased as he asked: “Well,  how do you like your raise?”
“I like the raise very much.  It’s the base  salary that I’m not too happy with.”
His face fell. “What do you mean?”
“I think my base salary is lower than most people  doing my level of work and at my performance level.”
My manager took a looked at my base salary and  nodded to acknowledge that he heard what I was saying.  “Okay.  Let me  look into this”.
“Thank you.  I really appreciate  it.”
The next time I met with my manager he said that I  was right about my salary and described a plan to adjust it.  He said that  because of my query, the company did a department review of all the  salaries and discovered that I wasn’t the only one not being compensated  appropriately.  Because the correction wasn’t just one person, the  company did not have the available funds to correct those  affected, all at once.  But they were going to continually increase  the salary of the affected employees with periodic raises every 4 months until  they were compatible with the average pay scale for our industry and  location.
I very much appreciated their response because it  illustrated two things:
1) The fact that they didn’t want to loose a  valuable employee because of a salary dispute.
2) Their integrity to not only correct my salary,  but anyone else’s salary that was below the national range.
I was very impressed with the way my manager (who  was 1 of  the 4 founders and co-owner of the company) handled the  conversation.  But I suspect that if he wasn’t one of the co-owners, the  story might have had a different ending.
Tell me your story.

Where does ‘hackling’ fit in today’s digital world?

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Where does ‘hackling’ fit in today’s digital world?

This is Laura Lee Rose, a business and efficiency coach that specializes in professional development, time management, project management and work-life balance strategies.  In my Professional Development Toolkit package , I go into professional development and real-world IT topics in detail. If you are interested in more training in these areas, get signed up

In business – a successful business person acknowledges the consumer trends/human behavior and adjusts.

A business and finance expert Kevin Price of Price of Business recently asked me the following question:
It seems that in recent years people have become less communicative in spite of all the tools available to interact with others. Or do those tools — smart phones, tablets, etc., make people become weaker in communications? In particular, it seems people have a hard time communicating about deals; they no longer have the skill to negotiate prices (hackle).  Haven they fallen off the face of the earth?

I have a theory about the statement: “people now have a hard time communicating about deals”.  It’s an auxiliary to the “supply and demand” rule.  People are more inclined to hackle or negotiate when there is a “one-of-a-kind” item of their desire.  For instance, if you find your dream home and you are convinced that there isn’t another house in the right neighborhood, near the proper schools, with the right lawn-size, etc. you are more apt to take the time to go back-n-forth on the price.

But, if there is an over-abundance of supply, people will just go elsewhere for an item of similar content.

In today’s digital and internet world, there are a wealth of ebays, craiglists, amazon.com, and various other e-commerce sellers on the internet.  There are also free apps that does the price and feature comparisons for you.  Therefore, instead of taking the time to negotiate and hackle, people tend to walk off and search the internet for a better offer. Most buyers now have an overabundance of suppliers at their finger tips. They no longer feel the need or pressure to negotiate for a better price, because they understand the abundance of world-wide sellers. Buyers are no longer restricted to local retail shops because they have the global market at their command.  Even the conventional ‘brick and mortar” shops understand the need for website and online ordering.

This switches the responsibility for the sale back onto the seller. Because of the abundance of the global competition he faces, it is the seller that needs to make the greater effort for the sale. It is the seller that needs to make the offer more attractive by offering additional training, onsite installation, local support, no shipping costs or delivery charges, personal support etc.  It is the seller that needs to improve their interpersonal communication skills.

Today is it the business owner that needs to better convey their differentials to the buyer. It is the business owner that needs to set themselves apart from the pack. It is the business owner that needs to take better advantage of the digital and internet bargaining propositions.

Once again, it is not the tool’s fault. The tools are simply impacting the way people do business. And successful businesses recognize the impact of tools on human nature and adjusts to the new consumer MO.

In my Professional Toolkit, I provide worksheet, templates and guidance on how to accomplish these things.    In my Book of Answers: Companion piece to the Professional Toolkit, I have 100 work-life scenarios like the above.  The scenarios show how to accomplish your goals in similar situation.
For more information on how to get this toolkit or the “Book of Answers”, please contact:

vConferenceOnline.com/Bits on the Wire, Inc.
6420 E. Broadway, Suite A300
Tucson, AZ 85710
520-760-2400 or (877) 853-9158
info@vconferenceonline.com

Guiding employees on when to use the phone

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Guiding employees on when to use the phone

This is Laura Lee Rose, a business and efficiency coach that specializes in professional development, time management, project management and work-life balance strategies.  In my Professional Development Toolkit package , I go into professional development and real-world IT topics in detail. If you are interested in more training in these areas, get signed up
Many workers prefer to communicate by email, IM or text over using the phone, because it’s more efficient. But there are times when it is better to pick up the phone, because it is a sensitive situation. What are the professional situations when it imperative to talk by phone or in person, rather than by email? And how can managers and company owners train teams that are often more comfortable with digital conversations to judge when they need to talk–so they can get better results for the business? Does it ever make sense to have a formal or informal policy guiding employees on this?

Come up with a “proper communication escalation chart” for your department similar to the below
Convey a proper communication escalation chart: (make your own specific to your technology)
1) Post card or snail mail
2) newsletter or bulk email
3) terse, brief text, chat or instance message
4) personal or individual email
5) phone call
6) in-person visit or face-to-face meeting (can be video meeting as well)
Outline the goal of the communiqué
For instance. The goal isn’t to send them a message and cross it off your list. The goal is to make sure they understand the information or message. It’s not sufficient to send something. You also need to validate that they received it, read it, and understood it. If your message had action items, you also need to verify that they have accepted the assignment. Telling someone they need to do something is only a small percentage of the challenge. You also need to make sure they received the message, understood it, and accepts the responsibility. Communication isn’t just a two-way street. It’s a high-traffic two-way street.
Guide them to use your communication scale appropriately. Some examples:
1) Match or escalate the communication style of your client.
For instance, if your client calls you – you call them back (do not respond with a communication style of a lesser urgency). That is disrespectful.
2) Limit text and instance messages for confirmation of meetings or facts. Do not use terse, brief communication for general information, directives or conversation.
3) If you don’t understand their text or email, escalate — call them or visit them for an interactive conversation. Anything below the phone-call communication style is not an effective communication style for clarifying details. It needs to be quick and interactive. The longer you delay in getting the proper understanding, the more risk that the other person is moving forward on mis-information.
4) Apologize in person-to-person communication style (anything higher than a phone call); then follow-up with either a letter, gift or email. But the apology needs to be in person and sincere. It illustrates the proper urgency and respect you feel in correcting the problem.
5) When there is a miscommunication – escalate the communication style. If your text was mis-interpreted, send an individual email. If your email was unclear, pick up the phone. If your phone message was unclear – visit in person.
6) If you didn’t get all the information that you needed or are not getting a response – escalate the communication style. If their email didn’t give you all the details that you needed to complete the job for them – pick up the phone. If a phone call didn’t capture everything – schedule a face-to-face meeting to bang-out the details and get consensus before starting the job. Have the client sign-off on the specifications as well.
If they are not responding to your email, don’t keep sending them email. Go up the escalation scale. Their email may not be working. Same with phone messages, etc. Remember, the goal isn’t to send them the message. Your goal is to validate that they received and accepted the information.
7) Document everything and give your client a copy or link to the minutes, agreements, specifications, etc. Follow-up with a phone call or message, that you sent them an important email with the details. Ask them to contact you back if they did not get it OR if they have any questions. Do everything that you can think of to validate they received your message, understand it, and agree with the actions prescribed.
8) Include deadlines for a response in your correspondences and communiqués. When leaving a message, include all the mandatory information to get to the next step. For instance, if you are on a deadline and need a certain piece of information from this person – avoid leaving vague and ambiguous messages like: “Call me”. This type of vague message might get you a return call on the weekend.
Instead, leave more detail message like: “Joe, this is Jane. I’m working on the X project and I need the input/output parameters regarding your featureY to complete the proposal. I need this information by Wednesday morning. I will be at the office number (xxx-xxxx) until 5:00pm and at home (xxx-xxxx) after 7:00pm. You call me as late as you want. “
You can also text him that he has an urgent voice message; “Joe -please listen to the voice mail that I left as soon as reasonably possible”.
If you are in the same location — just visit his office, leave a message with his assistant, etc. Illustrate and match the appropriate urgency through the method of contact your choose.
9) Get into the habit of using your Vacation or Office-Hours auto-responders and notifications.
Publicize when you are available and when you are not available in advance. Explain, in advance, why you are not answering the phone or responding to email during specific blocks of time. Make use of auto-responders to publicize when you will be able to answer their questions. In your auto-responders, announce your preferred method of communication (by phone, by text, by email, etc).
10) Recommend employees create a communication plan for each of their clients.
Everyone will have a different and preferred way to communication. The better you understand the best way to reach your clients and co-workers, the more successful you will be. Encourage your employees to create a simple communication plans for all their clients and significant co-workers, executives and managers. Include their numbers, emails, and preferred communication method. Include different categories such as:
a) how would they like general information (i.e. status reports in newsletters, on website, some lower communication method)
b) how would they like to be notified of action items (i.e. personal email with deadline in subject line)
c) how would they like to find out about problems or stop-production issues (i.e. by phone call with your solutions)

 

I talk more about this in my Professional Development Toolkit at https://www.lauraleerose.com/it-professional-development-toolkit/

 

In my Professional Toolkit, I provide worksheet, templates and guidance on how to accomplish these things.    In my Book of Answers: Companion piece to the Professional Toolkit, I have 100 work-life scenarios like the above.  The scenarios show how to accomplish your goals in similar situation.
For more information on how to get this toolkit or the “Book of Answers”, please contact:

vConferenceOnline.com/Bits on the Wire, Inc.
6420 E. Broadway, Suite A300
Tucson, AZ 85710
520-760-2400 or (877) 853-9158
info@vconferenceonline.com

Try it and let me know what you think.

Just released: A NEW professional resource from Laura Lee Rose!

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Just released: A NEW professional resource from Laura Lee Rose!  SSWUG_LOGO-NEW190-blacktag
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All the Tools You Need to Get Ahead

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Learning your way. Our IT Professional Development Toolkit combines four learning medias into one powerful set of strategy, insight, and actionable ideas so you can get momentum in career today. We have a knack for taking big ideas and converting them into smart, sound, and actionable ideas. We have practice scenarios in real-world, real-life working environments to inspire the required change in you and those surrounding you.

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Radio interview with Kevin Price and the Price of Business

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In a recent Price of Business radio show interview (http://youtu.be/xmeP6m0dfnY) Kevin Price asked me a few questions regarding “What’s going on with communication?” This is a quick follow-up to that segment.  We didn’t really get into how change our behavior when met with difficult clients that fail to return calls or essentially “drop out of sight”.
If the seller is getting frustrated on how people are just leaving them hanging — it’s easier to change your (the seller in this example) MO than the buyer’s MO.
Some quick things the seller can do:
1) Write up a binder (a promise to sign a contract) before the buyer stops communicating.
Having the buyers signature and contact information on something – often pressures them to call you back to tell you that you are no longer interested.
2) Set timelines and deadlines on when the this particular deal will expire. Request a small deposit to hold this particular deal for a certain length of time. After that time, the price would go to the regular rate. This adds a level of urgency in the buyer’s mind.
3) Give them a free 14-day trial – using their credit card or payment information. If they like the product or service, the credit card gets charged after 14 days. But the buyer needs to contact them in some way to discontinue the service.
4) Follow-up and call them back after a few days of “no communication”. The seller takes on the responsibility for the follow-up. It takes two to “stop communicating”. But this means that the seller needs to consistently collect contact information during their initial conversation. If the seller allows the buyer to walk off without giving them any contact information – the seller didn’t do their job properly. Consistently gathering contact information allows the seller to not only follow-up with the buyer, but present them with other offers, newsletters, coupons, and other announcements.
5) Before you leave your client, realize that they will probably be shopping around for a better deal. That’s the arena that we are now living in – with the overabundance of internet and e-commerce sales. Buyers have the global market at their finger tips. So, simply state: “Hey, buddy. I realize that you will probably be shopping around for other deals. If you find a better offer, please give me the opportunity to match or better it. Please call me back and allow me to try to match or better it.
In general – if you are frustrated with someone else’s behavior, there are often things you can change in your behavior to offset their behavior.

Video of the previous interview:

How do Companies prevent remote workers from feeling “left out”?

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  • Have that one project that you have been stalled on?
  • Need  objective eyes on your problem?
  • Need just a different way to look at the solutions?

I have helped people on a per project basis.  For example: mapping out the pros and cons of two job offers; revamping their resume to attract more corporate interest; managing their boss; and narrowing the direction of their next steps.  I have reasonable rates for per project consulting.  No long contracts and discounts for continued enrollment.

If you haven’t taken advantage of your introductory career and time management coaching session, please contact LauraRose@RoseCoaching.info   You’ll be surprised how one conversation can change your life.

How do Companies prevent remote workers from feeling “left out”?

I recently received the following question:

How do companies prevent remote workers from feeling “left out”?
Incentives, such as bringing in lunch to headquarters staff and allowing casual attire in the office after employees meet certain goals, do nothing for those who work from home. What techniques improve or solve this issue?

I’m not a fan of handing off the responsibility of our own career and growth to someone else.

  • It is not the companies’ responsibility to make their telecommuters to ‘feel included’.
  • It is not the companies’ responsibility to make sure their employees network and build the proper working relationships with the right co-workers, sibling departments, other managers and executives.
  • It is not the companies’ responsibility to make sure their employees keep their jobs.
Career management and business networking is each individual professional’s responsibility. By placing the ownership of making the employee “feel included’ into someone else’s hands is a loosing proposition, because everyone is different. What works for one telecommuter will fail on the other. And then the company will resent the employee for not fully appreciating the efforts that the company made in the wrong direction. It is best if each individual takes full responsibility for their own career.
The very best way to “feel involved” is to simply to “get involved”. Some things that the telecommuter can do to “feel more included”:

1) Conduct and facilitate Brown Bag Lunch professional development series on new technology or operational procedures. Teleconference technology like Skype allows remote employees to both attend and present. Take the initiate to present on high-profile, company driven topics. Arrange for guest speakers that are expert in these areas. Request that the company cater in lunch for these special training and educational events.

2) Go into the office for face-to-face business networking. Even though you have the benefit of telecommuting, this does not relinquish your responsibility in your own business networking goals. Schedule monthly or bi-monthly visits into the office. Line up the important meetings with co-workers, managers, executives and mentors that are beneficial to your career growth and professional advancement. Your career is your responsibility – and the adage “out of sight, out of mind” is very relevant to telecommuters.

3) Schedule weekly or bi-monthly one-on-one meetings with your managers and mentors. Stay on your manager’s and mentors radar by scheduling frequent and regular one-on-one meetings. Have agendas and meeting goals/purpose identified in advance, so that you are not wasting these important people’s times. YOU facilitate and conduct these meetings to show your intentions and initiative. Ask about your performance and share the type of projects that you would like to be assigned to. Review the gaps in your skill set that you need to accomplish to gain those desired positions. YOU suggest/ask for things that you would like as rewards for meeting certain goals.
These are only three things the employee can do to take charge and ownership of their own professional advancement and career management.

Bottom line: If you leave it up to the manager to guess about your own desires, they will guess wrong. You will be unhappy and they will resent you for not being appreciative for their attempts to make you happy. Take ownership of your own happiness.
In my Professional Toolkit, I provide worksheet, templates and guidance on how to accomplish these things.    In my Book of Answers: Companion piece to the Professional Toolkit, I have 100 work-life scenarios like the above.  The scenarios show how to accomplish your goals in similar situation.
For more information on how to get this toolkit or the “Book of Answers”, please contact:

vConferenceOnline.com/Bits on the Wire, Inc.
6420 E. Broadway, Suite A300
Tucson, AZ 85710
520-760-2400 or (877) 853-9158
info@vconferenceonline.com

Try it and let me know what you think.

To experience the entire SSWUG TV career management series, <<click here>>


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Should I Give Discounts?

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Should I Give Discounts?

IT Professional Development Series

By Laura Lee Rose

 

Hello, this is Laura Lee Rose – author of TimePeace: Making peace with time – and I am a business and efficiency coach that specializes in time management, project management and work-life balance strategies.  Steve Wynkoop and I talk a lot about designing and managing our professional careers on a weekly interview on SSWUG TV. One recent question popped up last week, regarding providing discounts for start-up companies and nonprofits.

 

A student asked:

I have been approached by non-profits as well as other small start-up companies to give them a discount on my products and services. Should I give them a discount?

I am not a big fan of devaluing your worth. Your time and effort is very valuable. And a non-profit or small business is not that different from any other business. They are still in the business to generate money. Non-profits may not focus on making a profit but they still have to budget for working expenses, they still pay their employees, still generate income (through sponsors and donations). Your service becomes a necessary expense for their company.

Having said that — I do see value in trade or bartering. For instance, you can give a discount in trade for advertisement in their newsletters, websites, and programs. If they provide a service that you can take advantage of – you can discount in trade for XX hours of their service.  If their client base matches your target market, you may have other opportunities for additional promotional opportunities.  For instance, you can arrange to become their sole vendor to their clients in your chosen product or service.

Example: Restaurant may want you to create a website for them. They are just starting out and are asking for a discount on your webdesign service. You have your own bills to pay and you want to attract clients that really value your time and expertise. You want to attract clients that are willing to pay you what you are really worth. On the other hand, you would like to see these people succeed. You can offer them a discount in exchange for:

1) A mention in their menu

2) A mention on their website (Website designed by: signature)

3) XX number of complimentary meals

If they want you on a retainer to maintain their website – you can include XX number of comp meals a month in addition to your discount price.

 

One warning: Do not accept barter for something that is not of value to you.  That’s comparable to giving your services away for free.  Make sure you continue to feel that your worth is being appreciated, by investigating alternative solutions that better meet your goals and success.

 

For example:  A business and success coach asks you to redesign and develop her new website at a discounted rate.  You don’t really need her coaching services and don’t see a fit at first.   But instead of dismissing it right away or giving the discount for free – you investigate a little more.  Asking the important who, what, where, when and how – about her business; you discover that her client base is other entrepreneurs in various fields.  Her primary focus is providing training to other start-ups and new business owners.  With this information, you design a barter, vendor and affiliation program with the following goals:

1)     Be the exclusive web-design vendor for her training classes, training DVDs, and promotions trade shows.

2)     Be prominently displayed and recommended on her website

3)     Be recommended to her clients as their website designer as they get started on their new business

4)     Be one of her speakers at her various trade shows, seminars and retreats

5)     Become an integral part of her support team and staff when guiding her clients through the deployment of their brand and websites.

If the above was not the case, it is recommended that you direct the life coach to someone else that could make use of her services.  This way, you will get the advantage of providing referrals and assistance to others (which puts you in good standing with both businesses).

 

In my IT Professional Development Toolkit, I go into the: who, what, where, when and how to accomplish all of the above. I also have a transferrable skill worksheet.  For more information about the toolkit, please contact

 

vConferenceOnline.com/Bits on the Wire, Inc.
6420 E. Broadway, Suite A300
Tucson, AZ 85710
520-760-2400 or (877) 853-9158
info@vconferenceonline.com

 

 

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