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It doesn’t matter what type of business you’re in: eventually there comes a point when you want to transition away from working with low-paying clients and start chasing a few high rollers. You know, the types of clients who care less about tracking every penny and just want quality results.
More money for less work, right? Sounds awesome.
What no one talks about is that it’s very rare to open up shop and immediately start booking those high-end clients. We certainly hear a lot about it, thanks to internet business gurus who promise you’ll go from making $20 to $200,000 overnight, but that’s just not the reality of things.
I’m not saying that you won’t ever attract high-end clients, but the process is much longer and much more involved than you might think. Youcando it, though. Let’s talk about how.
We all have to start somewhere, and that’s usually at the bottom of the ladder. It takes time to work your way up, client by client, to gain the skills and solid reputation high-ticket buyers would expect from you. However, just because you have to start small doesn’t mean you have to think small.
Whether you do quarterly, monthly, or yearly planning for your business, you should always set an achievable goal and a stretch goal. The achievable goal should be a short-term goal that’s challenging but not impossible. Working toward it will keep your momentum and sense of accomplishment high.
Your stretch goal, in comparison, is a long-term, “big picture” goal. It’ll probably take you longer to achieve, but it’ll also keep you motivated. Think of these goals in terms of money. An achievable goal might be staying within your monthly budget, and your stretch goal might be saving for retirement. See the difference?
As you’re setting goals, think about what your clients biggest pain points and struggles are. Figure out how to anticipate and solve those issues. Being known as someone who can solve seemingly overwhelming problems will eventually make you a hot commodity on the market.
How on earth is anyone going to know about you and what you do if you don’t talk about it? Putting a few Facebook and Twitter posts out there is fine for your biz, but stronger connections are made when you have personal interactions with other people.
Network with other professionals in your industry, even if you’re not looking for work at that moment. If they’re overbooked, they might remember your name and send a potential client your way later.
Also, hang out (whether that’s in real life or online) where your favorite type of clients are. If you know where your dream clients shop, go out to eat, get together online and chat — be there, and keep your ears open for an opportunity.You never know where your next client is going to come from.
Disclaimer on this: Don’t be too salesy or creepy by pushing your business to a stranger right off the bat. Take the time to build a genuine connection with real interest and friendliness. It’ll get you much further.
Just because you’re working with smaller clients doesn’t mean that your work is any less worthy of showing off!
Take the time to build a fabulous portfolio with case studies and testimonials from happy customers. You’ll boost your credibility and trustworthiness. And don’t forget about including good photographs or images to properly showcase your products or designs.
Having professionally presented examples of your work with testimonials and statistics could make the difference between landing a high-dollar deal and having a client pass over you for someone else. Presentation is everything, and lackluster photos of a stellar portfolio isn’t going to do you any favors.
One thing universally understood is that high-end clients expect red carpet treatment and results. They may not care what it takes for you to get there — more of your time, hiring subcontractors to lighten your own workload — and don’t mind paying for that service.
Again, look at the problems your high-end clients are dealing with and figure out how you are uniquely positioned to offer a solution to those issues. For example, maybe you could offer a VIP Day service to clients who want (and will pay for) dedicated one-on-one time to work with you on their project.
You knew we’d arrive at this point eventually, didn’t you? We couldn’t end this blog without mentioning how important it is to have a contract, no matter what kind of clients you’re serving in your business.
Once you start taking on fewer clients for more money, you’re risking a whole lot more in your business. So much more is at stake: their money, your reputation, and your financial wellbeing. Having just one big-time client fail to pay you on time can suddenly mean losing 50% of your income in a month instead of just 5%. Not cool.
Protect yourself (and your client) by having a contract that clearly spells out the scope of work, what the payment terms are, what happens in the event of late payments, medical emergencies, if they don’t get materials to you on time, all that good stuff.
Not only is this just a good business practice, a well-written contract also reinforces that you’re a professional and can be trusted to handle their high-dollar project. And before you know it, one happy high-end client leaves a positive review for you, which leads to more high-end clients…and more of the work you want to be doing.
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Dela Doris
April 03, 2024
This what very helpful.
Thanks so much for sharing.