I realise that there are lots of very intelligent punters and advertisers here.
But many don't understand business concepts- especially in this industry where one is effectively selling something that can be attained free or at least low cost (like the bottled water industry). A rethink of the business model is imperative:

1. 'Billable Hours Model'. While this is the standard for a long time, it has many draw backs. Charging by the hour in corporate has shown to lead to inflated prices. Additionally clients will be charged at block times leading to client animosity when the full hour is not used. This model endangers positive relationships essential for maintaining trust element core to any business.

2. 'Recurring Income Model': some have started using this model already. A regular fee payment to access a number of discounted packages. There are many variants- buy 3 immediately and get 1 free, set number of services per month. This is not the same as running discounts as that's usually interpreted as lazy marketing and lack of product confidence. This model argues the concept of being a stable business of say 50k per month as opposed to 200k for two months and nothing for the rest of the year.

3. 'Project Business Model': a set fee charged for a project. Its fundamentally lies in accurately determining the duration and resource input into the project to correctly derive a profitable costing. It's advantages lie in the notion that the client is only interested in the final outcomes, and you dont have to tell your client what your hourly rate is- and as such the client does not have anything to compare it to. There are a few other considerations to this model that one needs to be aware of as well (over servicing, once offs, good cost structuring etc)

These are complicated but effective models that cannot be detailed in a forum thread posting. PM or call me if I can clarify. But read up on it- they are well documented.

Feel free to add comments on strategies below.

Executive123, Some very astute observations made. Certainly something to take into consideration in our current economic climate and the viability of the industry.

Extraordinary times require extraordinary measures! Thinking outside the box during these times will set you apart from the rest and pave the road to success and ultimate survival!

Thanks Executive123 ... very interesting models .. hope the ladies take it to heart to make a success of their businesses !!!

On 2018-09-06 19:48:36 If Only said:
Extraordinary times require extraordinary measures! Thinking outside the box during these times will set you apart from the rest and pave the road to success and ultimate survival!

So very true If Only !!!

Option 3 seems the to be the winner in my opinion

I am actually drawn to Point 2, the Recurring Income Model. Calculating your monthly requirement or need as a WG/MG, and then dividing that up into 'packages' with only so many available to punters - based on your own preferences, of course. This makes your availability 'limited' to those that jump on the bandwagon first. No need to further promote or advertise yourself in that month once you have filled your list of 'monthlies'. In all likelihood you will pick up repeat customers for the new month and only have to 'replace' a few with new contracts.

Also, there is a time-period involved, and appointments must still be made in advance. Any 'unused' punts or sessions are forfeited. This is the cost of convenience.

Good thread, Executive123.

Wow this is fantastic- good input everyone!

**thumbs up**

On 2018-09-07 07:38:09 SilverWolf said:
I am actually drawn to Point 2, the Recurring Income Model. Calculating your monthly requirement or need as a WG/MG, and then dividing that up into 'packages' with only so many available to punters - based on your own preferences, of course. This makes your availability 'limited' to those that jump on the bandwagon first. No need to further promote or advertise yourself in that month once you have filled your list of 'monthlies'. In all likelihood you will pick up repeat customers for the new month and only have to 'replace' a few with new contracts.

Also, there is a time-period involved, and appointments must still be made in advance. Any 'unused' punts or sessions are forfeited. This is the cost of convenience.

I have been applying this method for 2 years to date now. It works perfectly. Though I've also had to cut ties with a few services I don't offer anymore and punters that no longer fill the gaps.

It's great to see success when an advertiser learns to adapt and morph into something viable.

I have my doubts on many of the ladies in here though- instead of being dynamic, they hurl insults at the guys and seek strength in numbers from each other in an attempt to avoid a change. Sometimes the impression given is to change a direction of the market instead of evolving to suit the trends at the time (remember when Greek was trending, or when high end sessions were the talk, or even when 'specials' were the new sought after fad?) Many were vocal in its resistance and in a way attempted to douse the market movement instead of capitalising on it.

Bottom line: if you do not evolve and keep up, you will be a casualty in this industry- and any industry.

Good thread: newbies and youngsters need to equip themselves with the tools highlighted; whilst veterans need to relook at fundamentals...

At it stands, many are going to fail. Few will be popular until a point in time. No-one will be wealthy post 55 years of age (the age of early retirement figures).