Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 16 June 2020
I’ve heard way too many times in the last few weeks of small business owners heavily discounting their rates simply because they were delivering their services online. So I asked myself, why was this occurring? You still have to prepare, research and deliver the same skills, experience and content. Nothing has changed apart from the vehicle of delivery.
Sure, budgets are being slashed all over the place and many of our corporate clients are running scared for their own J O B s and asking for temporary discounts for services. But why are we so quick to accept? Is it because we are used to discounting as soon as we are asked? Or is it that we’ve had our own self worth devalued in this covid world.
In the studio we welcome Tim Hoopmann, Founder of Spinn Business Solutions & Beyond Blue Speaker who is once again share his wealth of knowledge and experience to help us navigate this weird world.
Welcome back to the show Tim.
Topics we’ll be covering:
- Valuing your online content as much as the delivery in person - tips on having that conversation with clients and collaborators
- I will start here and talk about the importance of strong self-worth and how this increases your confidence.
- Understanding the different way you may now be delivering your services and the impact this will have on your clients.
- Online will often mean it is recorded and available ongoing
- Be clear upfront with clients
- firstly on their expectations and their budget. How have things changed for them?
- Secondly how your business has been impacted and that your fees have not changed
- Often there is pressure to discount in this challenging environment
- All these conversations are easier when you have a strong sense of self worth.
- That's not easy and it’s important to focus on your mental health to ensure you are as resilient as possible
- Losing your content and licencing issues
- remember that when a presentation is recorded you lose control of who has access to that; so in fact you should charge more since this grows the audience!
- How will they be using your content now that it is online?
- What control will you have over it once it is recorded and distributed
- Have the difficult conversion up front and do no assume that their ideas are in line with yours
- Letter of engagement and clarify of terms and conditions is vital
- g - clients ask of Tim his hourly rate
- But on the other hand everyone is expecting a discount and the reality is budgets are not what they used to be. Are we all expected to tow the discount line, or will some of us thrive in this environment where others fail?
- Everyone is experiencing financial hardship differently
- We all need to be honest and upfront on the impact it has had on our business and those around us
- Some have been impacted severely while others are doing very well.
- Before providing a discount a better understanding is required of each business situation
- Resources available on Beyond Blue & Headsup website
- Beyond blue for support if you are struggling wiht mental health. Plus lots of COVID19 support information around work and teams
- Headsup for resources for business - including all levels within the organisation.
To find out more go to their website: https://www.headsup.org.au/healthy-workplaces/for-small-businesses