#94: What to do if an amazing potential client can’t afford your rates

Sep 20, 2020 | Working with Clients

Sometimes a potential client comes along that is absolutely perfect. They have all the qualities you’re looking for in a client: motivated, driven, coachable, ready to invest in themselves…

They are perfect in every single way! They just can’t afford your rates. 🙁

That doesn’t necessarily mean you or the client needs to miss out on the magic you could work together – it just means you’ll need to rethink a few things. Fortunately, successful coaches and virtual assistants are good at thinking outside the box!

In this video, I go over 3 options on what to do if an amazing potential client cannot afford your rates.

Sometimes a potential client comes along that is absolutely perfect. They have all the qualities you’re looking for in a client. They are:

  • Motivated: You want to work with people who know what they need and are ready to roll up their sleeves and get to work.
  • Driven: These are the people who are dedicated in their pursuits and not at all afraid of hard work to get there. Sometimes, your ideal clients will challenge you to keep up with their pace for achieving better things.
  • Coachable: If your clients aren’t willing to be taught or coached, you really have no purpose working with them. You know the old saying, “You can lead a horse to water…”
  • Ready to Invest in Themselves. While there is a money element to the equation. Your ideal clients are ready to invest mentally and physically as well.
  • They are perfect in every single way. They just can’t afford your rates. That doesn’t necessarily mean you or the client needs to miss out on the magic you could work together. It just means you’ll need to rethink a few things.

First, don’t back down on your rates. That devalues the service you provide. As tempting as it may be, look for other solutions to the problem.

Fortunately, successful coaches and virtual assistants are good at thinking outside the box! These are a few options to help you get started.

  • Option 1: Offer to Check back in Six Months

    This gives the potential client opportunities to make changes in the budget to accommodate your services or change their financial situations for the better. The key is to mark your calendar so you do not forget to reconnect, which would cause you to miss out on working with this impressive person.
  • Option 2: Consider Offering a Payment Plan

    This is something you should only do if you’re comfortable and stable in your own income. You do not want to jeopardize your own financial circumstances to accommodate a client, no matter how perfect they appear at first glance. However, breaking your fees down into bite-sized pieces allows them to begin working toward the changes that will have them in a much better situation to afford your rates six months or one year down the road.

  • Option 3: Create a Custom Package for this Client

    Create a package that offers a trimmed-down version of your usual services and charge a lower rate for the package. You may even include fewer services in the package and use the successes your client achieves with the “leaner” package to generate the income for your more robust offerings.

The idea is to create opportunities for the client so he or she can benefit from the services you offer and accomplish great things without finances being what ultimately holds them back.

When you see such promise in a prospect, it is difficult to walk away. These options provide you with opportunities to help people you believe have so much potential without putting yourself at a disadvantage by doing so.

This month the theme is handling difficult client situations and I’ll be providing solutions to common issues. 

And if you found today’s video helpful, check out my new Business Building Action Kit on sale. This kit comes with a step-by-step for handling 10 difficult client situations, a worksheet, an action checklist, 4-week done-for-you calendar, resource directory with links to tools and resources, and a 21 ideas blueprint. I cover difficult situations such as what to do if the client unexpectedly bails or changes her mind after she signs a contract and 8 other situations.

 

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