Getting more clients with Ramit Sethi
Ask for referral to another client. Many jobs surface through connections.
Don't create an us versus them: that could work for you BUT.. reasons.
85% of the work is already done before you step in the room.
- don't radically undercharge for first client (overly needy). Don't come off as needy: will compromise client relationship.
- if undercharge, cannot have your initiatives implemented at C-suite level.
If client not willing to provide case study or allow you to talk about your work, that has a price tag associated with it.
- on informational product side, understand market: survey questions from 20 responses. Qualitative not quantitative.
- on consulting side, concentrate on business problems or needs not technical.
Does the client want it? That comes to early research.
Need to understand words that your client is using, and explain exactly why and how you can help them.
Re-iterate clients words back to them. Communicate like you understand where they are coming from.
Put yourself in the mind of your customer: easy, fast and free doesn't mean anything.
Easy is not a descriptive word that people use to describe their solution.
Don't make mistake of thinking our world is everyone else's.
Important to understand business model of your client. Understand who and how you can deliver more value.
Move to curiosity: what don't I understand about this?
Understand value versus cost.
Don't try to turn D customers into A+ customers: won't happen.
Pricing with Ramit Sethi
Price can be used to position a product or service and allow higher quality customer to self-select into.
Charge more to deliver more value: obtain better customers.
Am I afraid of charging more?
- I'm scared of finding people won't pay
If I know my product is good my obligation is charge appropriately. Don't justify your pricing.
It is not about cost it is about value.
Deliver more value, charge more and find the right clients.
Find clients that look at service as investment. ROI may be financial, emotional (take away fear), give me back time.
Clients pay for increasing revenue or decreasing cost, but also in direct way for trust and perception of reduced risk.
Fear in mind of client when get into new technology project that project will blow up and they will get no value.
So the client will discount the maximum they can pay by the chance to project will totally blow up.
If client thinks "last five times I hired for technology project I only received one that delivered any value. The client will
pay you only 20% of rate could pay." If you're a 95% chance of success guy, it is worth paying you much much more than the
Ways to improve perception will deliver success (even if competition more technically superior):
- you can communicate better what you are doing (this guy gets it)
Understand the client's hopes, fears and dreams. Need to speak directly to client: undertand them better than they know themselves.
Notion that have requirements to work with client and won't if they don't meet the requirements. If they do meet requirements can
be persausive to client.
Taxonomy of value that exists in market can be maleable.
Quote weekly rate for project that aligned to business goals get around hourly rate taxonomy of value for software services.
Make pricing congruent with market needs.
Have to deliver better product or result than everyone else.
Make sure you're charging as high as you can to find the right customers.
Run some numbers prior to setting price: factor in churn, support etc
Pricing is strategic: communicates to market what type of service, cient you're interested in.
Growing your consulting practice with Brennan Dunn
Own the business objectives of the code you write.
Rephrase what you're doing into what the client will understand: solve a problem.
Move away from commodity coding offering: race to the bottom. Position offer differently.
Talk in language of the customer: lower total cost of ownership; lower risk of failing to capitalise in later quarter. Not technical debt.
Move from outsourced developer to close business advisor.
Never underbid on projects thinking will make it back. There is risks why a consultancy will charge minimum $8,000 per week working on a project.
Onboarding a new candidate can take several months: so consultants can credibily promise that given business need will be delivered two weeks from now.
Don't reverse engineer salary to come up with rate.