It’s often tough to identify the perfect niche for your business. It’s even tougher to turn away opportunities even if they aren’t a really good match with your company and services. Why would you push away paying business?
Unfortunately, all opportunities are not created equal. You’re often better off passing on new business if it’s outside of your core capabilities or requires you to cut your standard rates. Doing either of these can lead to a poor end product and a significant amount of wasted time. Would you be better off taking on a two week project that pays you for two days of work, or would your time be better spent vigorously courting large potential clients that pay well and fit your capabilities? The answer is simple, go after the big fish that fit your company.
I’m not saying to shun every low paying project. In fact, I’d recommend giving up payment for more project control. A pro bono project with the right client can be a fantastic way to build a portfolio, resume and/or solid project references. Just make sure you have a clear understanding with the client. A pro bono project should be a platform for you to shine. You’ll regret agreeing to take on the project if the client is going to micro-manage every aspect. Realistic pro bono clients understand that they’ll need to allow vendors more project control if they’re asking for free and/or discounted services.
We’ve experienced the great, good, bad and ugly as we’ve grown. Some projects seemed cursed and others seemed blessed, but we learned something from all of them along the way. Even the disastrous relationships with the wrong clients have taught us valuable lessons on when to say no in the future. Now we’re fortunate to have a great client mix that suites us well (and we fit them well). The ability to say no sometimes helps us ensure that the service level remains high for all of our clients. Now we only take on projects where we know we can exceed expectations.
Bottom line….define your market, allocate sufficient time to client acquisition and carefully select pro bono/discount projects.
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