Earlier this week I surveyed my Daily Secrets list to find out the biggest challenges in your business.
Thanks for taking the time to have your say.
One comment came up a couple of times and it's something I get asked quite a lot by new Consulting Tycoon members.
It's the "how do I find clients who can afford to pay what I need to charge to make a decent profit" problem.
Swashbuckling my way into the copywriting business I learned this lesson the hard way.
Met with a 2-million dollar business. They fit my ideal client profile perfectly; entrepreneurial, spending money on marketing, wanting to grow fast, big need for ongoing copy work, had hired copywriters before, and were a referral from a friend.
We hit it off, and as if it were fate discovered I grew up not far from where the "guru" behind the business lived.
As close to a sure thing as you're gonna get.
I knew money was a bit tight as they were going all out promoting a big seminar. Plus I'd never worked with them before. And it was a new niche for me. But I really wanted the business and knew having them as a testimonial would open other doors.
So I whipped up a proposal and discounted my services just low enough I was sure they'd bite.
A $3,000 monthly retainer.
Less than what I'd normally charge for one salesletter.
They'd probably get 2 or 3 out of me each month.
Nothin' but crickets for a few days.
Then a call.
Guru wants to know if the price I quoted includes email copy.
"Ah, yeah" I stumble, not wanting to lose the deal at the last moment.
Sure enough, never heard from him again.
Figured I priced myself out of the game.
Couple of months later I'm talking to another copywriter on Skype and the guru came up in conversation. I mentioned the project I didn't get. What he said next was like a kick in the guts...
"Oh yeah, I got that one. $15,000 up front and a nice royalty".
He'd never worked with them before either. It was a new niche for him too. And that price didn't include email.
Now, price wasn't the only factor in me not getting the gig.
Looking back my client-intake process was weak. (Nothing like the NCS system I teach in Consulting Tycoon.) I didn't spend enough time getting to know their problems. Jumped to solutions too soon. Quoted for what I thought they needed not what I had established they wanted etc.
But the point is this:
Clients with money are out there.
And once they pass some basic criteria such gross revenue $2+ million, having a problem you can solve, wanting to solve it, and spending money on marketing etc...
... the only difference is YOU.
Will you play big or stay small?
The studs and the duds are the same people.
It's what you do with them that counts.
P.S. One of my TIC members just landed a $5,900 per month deal and said this to me: "Thanks again Kyle for your work and support in getting me to this point. Never in my whole life would I have quoted for this level of activity if not for your encouragement and reasoning."
This is playing big.