How would you like to turn rotting fruit into cash?
Did I say rotting fruit? Yup!
Pull out your pen and get ready to write, because I’m going to give you a big idea on how to use your perishable inventory to make more money!
If you sell a service and no one engages your services today, then you will have lost 8 hours of your productive time that you will never get back.
Those hours are the “fruit at your supermarket.” And that fruit has a certain shelf life, and once that expiration date arrives, you can no longer sell that fruit.
That’s why I recommend using a variable pricing strategy similar to what airlines do with their supply and demand pricing.
E9digital is a boutique company with limited capacity and we operate at close to 100% allocation on our team members.
But recently, one of our big clients moved a project from Q4 of this year to Q1 of next year. That left one of my top teams without a big project.
So I reached out to a couple of other clients that were sitting on big proposals to see if they wanted a big discount on their project but the catch was that they had to move now and use my team in Q4.
I also told each of those clients that only one client would be able to take advantage of the deal, so it was first come, first served.
And just like that I turned my rotting fruit into gold.
They key to doing this correctly is to make sure that your deal does not affect your normal, full priced work.
So take a look at the times on your schedule where you are under-allocated and see if there is a segment of your clientele that you can serve with a discount pricing package and you will definitely make more money.