Pricing your Services (part 2 – the sales targets part)

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Okay, so now you’ve worked out how to price time here’s the next step … planning the mix of small, medium and large projects to the various types of customer you’re targetting.

What would be a small, medium or large project for you? Are we talking £250, £1,000, £5,000 or £10k, £50k, £250k … or something else entirely?
There is of course no right or wrong answer to this question but it does matter that you have a clear answer in your own head. That’s because the next step is to look at that turnover goal you now have and work out how it will break down into small, medium & large jobs?
Will there be a larger number of smaller jobs, a clutch of medium projects and the odd large one or do you go from one large contract to the next (perhaps with a gap in between)?

When you work with a new client do they try you out on something small before handing you a larger project or do you tender for large contracts based on your track record of delivery? How many clients do you have at any one time?
Consider these question and sit down with a calendar and set yourself some targets of how many small, medium and large projects you want to win in the next 12 months. How much does this come to?
Having done this in the abstract double check that you have enough but not too much work if your estimates are accurate.
Next question: what projects might these be in reality? Who do you want to work for and how will you pitch yourself to them? Make a long list of all the people to approach and think about which of your services to suggest to them.
Bear in mind that you won’t win all the business you go for so think about what your success rate might be and track this as you go forward (as a start point think about winning somewhere between one in five (20%) and one in two (50%) of all the jobs/contracts/projects you pitch to potential clients).

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  1. Pingback: Into the woods with Folksy Summer School | MyCake financial management

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