Recessions: Perfect Time For Stealing Clients
TweetAlthough a recession can be tough for everyone, the solo entrepreneur might be feeling the sting even more than most. That’s the bad news for many of us. But for every yin there is a yang, and for every bit of bad news, there’s also some good news. Because you are a solo entrepreneur or a tiny company, you are nimble. You can make decisions on the fly. You don’t have to wait for a committee of out-of-touch executives to even give you 15 minutes to state your case, and you don’t have to wait for an answer from them either. You make your own decisions. You fly with your own ideas. Now, during a recession, is the PERFECT time to exercise that ability to be nimble. Why?
People and companies still need services and goods during a recession. But now they are looking for “the better deal”. That better deal might come in the form of lower prices – a bargain – or it might come in the form of “getting more bang for the buck”. This is where you step up to the plate and offer added value or bargain pricing. Now is the right time to steal away a new client from an old mega-competitor. Companies pay exorbitant prices for services from companies that love being able to charge “enterprise-level prices”. Often, those “enterprise-level” services aren’t any better than what you can offer for much less.
Now is the time to approach a company that may be paying through the nose for a service you can provide for far less. If feasible, show that your service even offers additional value because you’ll go one step further than the competition by providing an extra service on top of what they’d normally receive.
Reeling in just one new client – especially a corporate account – could leapfrog your business so much that you won’t even notice the recession. The timing couldn’t be better for solo service businesses to jump on stealing away a big client. If you can logistically provide a service to a large client, act soon to land that client. When making your pitch, just be sure to show the benefits of moving from their tired old high-priced service to your new, nimble, value-added service. Then, once you land the big one, get to work! 
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Could not agree MORE! Good write-up on getting the word out!
Contrarians have always known that downturns are the best times to invest in business and outcompete less nimble and less creative competitors. Some of the best venture capital investments were made during the dotcom bust.