Bizsuccess

Thursday, October 22, 2009
By Pattie Baker

Listen, no one wants people to lose their jobs.  However, the last year has seen a sharp increase in downsizing due to the poor economy.  These companies, however, have accounting, legal, marketing, and a wide range of other work that still needs to get done.  If you happen to be a consultant who offers services such as these, this down economy may have had some unexpected benefits for you as you have been able to jump in and fill some holes.  If you haven’t tapped this market, then it’s a thought.  Companies that used to handle these functions in house may be outsourcing a whole lot more than you think, and may be thrilled to find out about what you offer.

As the economy picks up, these companies may go back to building up their in-house departments, but that doesn’t mean there’s no long-term spot for you.  If you gain one of these clients, get to know your point people and their particular needs.  Offer a high-end service that is hard to replicate and delivers clear bottom-line benefits.  Be responsive and professional, and don’t slip into a comfort zone where you slide on deadlines or quality.  “Own” a project, such as a quarterly tax statement, legal filing, or newsletter so that it is more efficient for you to keep handling it even if people are hired as staff members.  Also, you may want to offer your services while a company is trying to hire someone full-time.  The process for hiring may be a month or two long, yet work still needs to get done today.  I like to check out the “Monster Board” with some regularity to see what kinds of jobs are available in my specialties and reach out to see if these companies need help in the meantime.

These relationships are typically very unstable, and that can make it hard on your business model.  There are numerous ways to counteract this.  One,  you can offer a reduced rate for a set number of hours and contract period, such as ten hours a week for six months.  Two, you can continually work on new business development to ensure you have a mix of clients so that the loss of one won’t cause your earnings to plummet.  And three, you can consider going “in house”, if the opportunity arises and you want the kind of stability and benefits that relationship might offer, although, keep in mind that in today’s marketplace, there is no thing as stability.  Your best defense?  A strong offense, and good, high-quality work with clients who need what you have to offer.

With all the time you invest in trying to secure new client relationships, don’t forget to get testimonials from the ones you already have.  Nothing sells you faster to someone new than a rave review.  Add them to your LinkedIn and Kudzu profiles, put them on your website, sprinkle them through introduction letters, and drop them into conversation at initial client meetings.