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starting out in a new bookkeeping business? Value Based Pricing is all the rage and our team has done some research into the options. lnkd.in/gwxReyx
DOING WHAT YOU KNOW, and particularly, what you love doing and are passionate about will ensure you earn money and get new clients.
Why? How? Because they’ll see it in your body language and hear it in your voice. Throw in some good computer skills and efficient credit and money management and you’ll be set for a great financial year profit.
People Prefer Specialists
I recently worked with a lot of different trades people on an investment property in Newcastle and found it fascinating how many trades people would promise to do a lot of things but then not be able to deliver when needed.
In particular I spoke with a painter who claimed that he was a level 3 painter (and not a level 1 painter) and then gave me reasons for it. What I came to realise is that he just wanted to work at a slower pace doing lots of interesting things and not on intricate, complicated paint jobs but he was quoting on EVERYTHING on the hope of getting the work.
Specialise early in one or two particular areas of your field — if you’re a painter, concentrate on indoor painting, rather than spreading yourself thin doing outdoor jobs and projects that require lots of different tools and expertise you don’t necessarily have. You can branch out later, once your business is more established and you have the time and resources to take on different kinds of jobs.
Just remember, people want experts because they know the job will be be done well — and they’re willing to pay good money for that. If you’d prefer to do more basic paint jobs like renovations and refreshing old houses and willing to accept a lower rate there is also plenty of demand for that.
Build a network of specialist professionals
You, personally, can’t be everything to everyone, but you can build up a network of professionals so your business can provide everything to everyone. Get to know other professionals who carrying out work in ancillary and adjacent areas to your business, and work out a mutually beneficial arrangement to pass work onto each other, where each people can earn a finder’s fee.
The painter recently went through the topics in our EzyStartup Course and realised he could earn a commission or referrals by passing jobs that were outside his area of expertise onto other painting companies, so he could focus more on the renovations and maintenance work that he prefers to do. Our EzyStartup Course taught him about pricing services, business planning, and developing a professional network to grow his business. Visit our website for more information or to enrol.
The other two main skills that will separate you as a trades person is the ability to manage your time using something like Google Calendar (part of Google G Suite) and to generate your Quote & Invoices quickly using QuickBooks or Xero so you can earn your money faster, have better cashflow and not be left worrying about things you have to do.
Do you want to make changes in your business strategy or marketing but not sure how to do it yourself? Want someone to help you project manage the learning of new skills AND using them in your business? See how our team can help with your digital strategy.
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