Pricing Flexibility Can Lead to Sustained Income
The world is in crisis, what with recessions, depressions, and economic dips. Today’s reality includes major health risks and high levels of anxiety about an uncertain future. We’ve experienced pandemics and lockdowns, although they seem to have faded from today’s collective memory. Given the current uncertainty, staying flexible with service offerings and pricing is important to business sustainability.
When offering services, it’s important to keep in mind that competition is fierce. With tens of millions of people out of work, a lot of professionals have become writers, editors, language teachers, or business coaches. Kudos to everyone for being entrepreneurial, but let’s recognize that today’s wealth of available talent can lead to a race to the bottom on rates.
In the context of today’s competitive landscape, we think it’s important for consultants to expand their service offerings. For example, companies that typically develop proposal or marketing content could offer resume-reviewing capabilities. Thinking outside the box may lead consultants to realize that their untapped talents are an extension of their expertise.
As we continue to chart these uncertain waters, we should always be aware of the competitive landscape and pricing fluctuations. We’re careful – as you should be too – to offer rates that are fair and that reflect market realities. By staying flexible and showing clients how they can benefit from flexible pricing models, consulting firms can weather the storm.
Ask us about our flexible, scalable services…ask us how we can help you win more business.