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by simonswords82 2104 days ago
I could write a book on it because there's a lot to it but I'll try to summarise.

Success = Connections x (Niche knowledge + Skills)

For connections:

Given the current state of the world networking is hard but not impossible. However you go about it, you need to build trust with people rather than hard sell them which doesn't work in 2020 (unless what you are selling is a commodity). Note that I said people, you're selling to people - not businesses.

You can shortcut this by leveraging existing contacts, ideally in a niche that you already have knowledge in because you worked in it.

For niche knowledge + skills:

With your connections at first you might need to find ways to cheaply provide value. Build up trust. Grow relationships. Get referred.

You'll make your life easier by specialising in a niche. So for example mine is financial services. A niche in a niche is even better. Again, for example mine is asset management, which sits within financial services.

So now you have your niche in a niche and detailed knowledge of that niche. You know what problems they have (the knowledge), and you can add your skills to solve their problems.

It's not easy, it takes years - but it's possible. Once you have all the elements of the above formula, you can switch your pricing from by the hour to by value.

1 comments

Why wouldn't you just sell one program as a service at that point instead of making custom software for each client?

Also everything you said here is extremely generic, it doesn't address the initial problem of finding a problem that a company needs solved and will pay for, but wouldn't solve themselves internally.

IMO for smaller markets, it's oftentimes easier to build a one-off custom solution than to make a generic one-size-fits-all solution. Custom software is high margin but low volume so there aren't as many opportunities to scale up.

I'm working with a client right now at a 30h/wk retainer. I solve problems for them and communicate with the team regularly as if I were an employee. In my experience it's easier to sell your value to the C-suite because they focus more on outcomes than line items or specific tasks. Relationships, reputation and positioning are key.

>it doesn't address the initial problem of finding a problem that a company needs solved and will pay for, but wouldn't solve themselves internally.

Duh. If a general way to find such problems existed, everybody would be using it - meaning every problem would already have people on it. Which means no problems for you.

Welcome to the market.