Soul Proprietor – Well meaning business advice

Over the years, I’ve gotten some well meaning advice from business coaches.  Most of the time, it’s been extremely helpful.  Other times, not so much.

For example, the blogger who asked me what my reader demographic was.  I told her it was mostly women ages 18 – 60.  She shook her head…”Nope, that’s too wide.  You need to narrow it down.”  Huh?  But that IS my demographic.  I know my readers and clients well.

And then there is the coach who asked a group of us about our most difficult client.  I mentioned the high maintenance woman who always tries to overextend her stay and get freebies.  Her assignment: fire that client.  I did not follow that advice because although my client can be a pain, she’s a good woman and she’s been with me for many years.  Sure, I have to wrangle her but I learned how to do that over the time we’ve been working together. (I got that advice years ago and my client is still with me – but that coach is long gone.)

Then there is this advice that I hear all the time: you need to double your rates.  While in theory that may be wise, in practice, not so much.  It’s not that I’m afraid to charge more it’s just that I am wise enough to know that I live in a blue-collar city and my rates are already a challenge for some of my locals.  Plus, I have elderly clients who have been with me for over 20 years and it doesn’t feel right to suddenly double my rates. I prefer to raise my rates slowly and incrementally because it FEELS right in my heart and it makes sense for my audience.

I care about my clients, not just making big stacks of cash.

So thanks for that but no thanks.

Other advice that I’ve disregarded: get involved in “list building teleseminars and  joint ventures” (um…most of time these are kinda gross once you see how they operate), create high-end packages that have your clients working with you constantly (I am not into creating dependence), hire someone to manage your emails (I practice extreme client confidentiality so that is a no) and so on.

Notice something?

I trust my gut, know what my clients want and how they operate, and I have policies that feel right for my line of work – which, in some cases, may mean extra work for me (ex: can’t hire a VA for my emails so I am stuck with every single one).  And guess what?  My business runs like a well-oiled machine – and I make plenty of money.

I know my industry inside and out.  That’s what happens when you’ve been at your game a long, long time (25 years!).

Nobody knows my business better than me.

And no one SHOULD.

That same rule applies to you: know your business.  Be present with it.  Do the actual work.  Study your demographic.  Pay close attention to industry trends.  Notice what works with your clients…and what doesn’t.

And before you hire someone to advise you on your business, make sure you do your homework and see if they understand the nature of your work.

There are plenty of people who may “get business” but they may not “get you”.

Scrutinize them carefully.  How long have they been in business (there are a rash of business-to-business coaches that have only been at their own business for a short time – yikes!)?  What do they know about your industry?  Who have they worked with?  How are they running their business and is that the type of model that you want to follow?

When it comes to advice, it’s always smart to listen carefully and to consider your source.  It’s also wise to test that suggestion out and see how it works (stubborn isn’t a good look on anyone).  Then, listen to your audience and your gut.

Because that’s where the real wisdom lies.

Blessings,

Theresa

© Theresa Reed | The Tarot Lady 2015

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