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imarketing0
Member
| Joined: | Mon Dec 5th, 2005 |
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| Posts: | 28 |
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Posted: Sat Dec 10th, 2005 10:34 pm |
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Here is something I run into from time to time. Sometimes business is a little slow. I have some work that I do on a regular basis so that helps when finding additional projects isn't so easy. But still it can make things hard financiallly.
So I sometimes find I end up accepting a job that pays less than I'm worth. But when it is that job or no extra jobs, I decide to take the lower pay. Do you think this is a good or bad idea?
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TPT
Administrator
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Posted: Sun Dec 11th, 2005 09:50 pm |
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When business is slow, I use the time to either market my business or improve my skills. A while back, during a slow time, I decided to take on a local non-profit at a 50% off rate. It was great initially because I got my name out there and had some cash flow while getting a lot of face time with new people, but now, that one customer is eating up my time and I can't just bill them at my normal rate.
Since then, I have decided to stick to my guns when setting my rate. I'd rather let a customer walk then to lower my rate. Luckily, that hasn't happened in a while...most of my new customers are referrals and have not even hesitated when I tell them my rate.
____________________
Fred
Intensify.biz Founder
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teacup
Member
| Joined: | Sun Jan 8th, 2006 |
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| Posts: | 6 |
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Posted: Mon Jan 9th, 2006 01:53 am |
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| You must be prepared for slow times. Either you have money set aside for those times or be prepared to make up for the losses by doing some other type of work to fill in the gap. The financial side of the business is the most important part, and to keep afloat, you need to be prepared to put a lot of your own money into your business.
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xadet3
Member
| Joined: | Fri Jan 13th, 2006 |
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| Posts: | 20 |
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Posted: Fri Jan 13th, 2006 06:15 pm |
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My template busniess I am running has recently had slow busness. Like teacup said you should be prepared for slowness. I was and now my company is getting bigger and better with more customers than ever before 
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TPT
Administrator
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Posted: Sat Jan 14th, 2006 04:41 am |
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| I believe the best business plan would include a product or service that brings in recurring revenue. Not every business can have that option, but regular recurring revenue is the holy grail of business.
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Fred
Intensify.biz Founder
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mom21
Member
| Joined: | Wed Jan 11th, 2006 |
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| Posts: | 71 |
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Posted: Fri Apr 7th, 2006 03:04 pm |
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| I agree. There are always going to be down times, so ti's good to have some type of backup revenue coming in. Our business varies so much, we can never tell how much income we are going to generate from week to week, so I am working another job at night right now, but I am worn out and I am trying to find another way to bring in aditional income.
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