The economy and the stock market have taken a toll for the worse, this is very apparent. If you are like me you keep hearing that things are bad, but you have no real clue how it really is going to affect you. Either way, you would probably like to be prepared especially when the other option is potentially being out of a job. I just recently felt the first effects of the economic situation when a client we thought was going to sign a contract right away resisted at first because of the current economic situation. While the impact to their business may not have been felt yet, people are afraid that it might any time soon, so the natural reaction is to scale back spending.
As business owners, freelancers, or even employees this can be potentially devastating if we don’t make adjustments to show our value and remain competitive in times of economic despair. While I may not be an economist I do know two things that will help you stay afloat during these troubling times.
Innovation is Still Important
If you can offer something that no one else can then you will find that your services are still in demand. This does not mean that you have to be the only person that can do something, just the only one that is convenient. If you are thinking that you aren’t innovative, you are also most likely wrong as well. This situation is a great time to sit down and look at what your strongest skills are and how you can leverage them. Thinking more about differentiating yourself from your peers will help you find something that you do that is innovative.
Remember Return on Investment
When people are really worried about spending money, showing them how their investment will make them money in the future will calm their fears. This is a great time to show your clients that you are thinking about their financial situation as well as your own. By doing things like informing clients of more efficient ways of handling a project, or mediums that may better suit their needs, you not only show that you have their interests in mind but that you also care about the outcome of their project. If you can save them a couple of dollars along the way, you have set yourself up to ensure future work down the road.
If you have any other items to add to the list that you feel may be helpful, please share them in the comments below.