Showing posts with label Norine Dagliano. Show all posts
Showing posts with label Norine Dagliano. Show all posts

Monday, November 27, 2017

Answering the Pricing Question


Ask any new resume writer what's their biggest question and the answer is likely to be related to pricing their services. The most common question I get is: How much should I charge?

You want to make sure you charge enough to be profitable, but you don't want to charge so much that clients can't afford to work with you.

You’ve got the competition to consider, your own skill set, what you perceive to be your skills (yes, this is different from the former for most of us), what your market will pay, your location (not as big of a factor as it was 10 years ago, but still relevant), and a host of other variables. Working it out can feel like a hurdle you can’t quite get past.

One simple calculation is to determine an hourly rate. 

STEP ONE: Estimating Expenses and Income
The first step is to take a look at your estimated expenses. Remember to include your marketing expenses, supplies, rent, utilities, etc. Add your estimated expenses to what you want to make in income. For example, if you want to earn $100,000 a year in your business and you estimate $20,000 in annual expenses, then your income target will be $120,000.

Annual Expenses (Estimate): _____
(plus) Desired Annual Income: _____
(equals) Income Target: _____

STEP TWO: Your Billable Hours and Schedule
Consider how many billable hours you can work each week. This information will help you determine how many clients you can work with each week, and then you can calculate your annual billable hours. (Don't forget to include vacation time into your estimate. For example, if you normally vacation two weeks of the year, then your billable hours will be multiplied by 50 weeks, not 52 weeks.)

Here's an example:
If you have 25 hours available for billing each week, then multiply that by 50 to give you 1,250 billable hours each year. Also consider how much non-billable time you need to spend on your business. (If you're having a hard time estimating billable vs. non-billable time, keep track for a week and then extrapolate it.) You can make adjustments to your plan as you go along, and you can consider outsourcing some of your non-billable tasks as your profits increase.

Billable Hours Per Week _____
(times) Number of Weeks You're Expecting To Work _____
(equals) Total Number of Billable Hours Per Year _____

STEP THREE: Calculating Your Hourly Rate
Business owners charging for their services use several different methods. You might bill by the hour or by the project (but the quote is often based on the anticipated number of hours the project will take, multiplied by the hourly rate).

Calculating your hourly rate is easy, because you have the information you need. Simply divide your "Income Target" (STEP ONE) by the "Total Number of Billable Hours Per Year" (STEP TWO). For example, $120,000 divided by 1,250 billable hours gives you an hourly rate of $96/hour

Income Target _____
(divided by) Total Annual Billable Hours _____
(equals) Hourly Rate _____

Creating a solid pricing structure requires you to do a little more digging. So with your starting number in line, take a look at:

Your Competition. This might take a little detective work, since a lot of resume writers don’t publish their rates online. But if you pay attention to their websites and social media, ask a few discreet questions, and get on their mailing list, you can figure it out.

Be realistic about who, exactly, your competition is, though. Don’t undervalue or over-sell yourself. In other words, make sure you’re comparing yourself to another provider who shares the same skills, market, and track record, rather than simply looking at who you strive to become. 

You can also take a look at statistics from the resume writing industry as a whole. Career industry professionals -- sign up here to receive the current edition of the "Profile of Professional Resume Writers: Who We Are, What We Charge, How We Work."

Your Skills. In some fields, this is easy. There are certifications and educational programs that allow you — by virtue of having achieved them — to charge a certain rate. If you’ve followed this path, then pricing will be easy for you. If not, take a solid look at what you can legitimately claim as a skill.

Look, too, at your track record. Have you proven yourself by helping former clients (and do you have the testimonials and case studies to show for it)? If you do, consider a higher price range than you might have first thought.

Your Market. In the game of setting rates, it’s your market that has the final say. As any first year economy student can tell you, the price of anything lies where what the buyer is willing to pay meets what the seller is willing to accept.

If your goal is to give new college graduates a helping hand and lead them down the path to success, that unfortunately means you can look forward to low paying gigs (unless their parents are paying for your services!). That’s not a bad thing — everyone needs help in a job search — but it does need to be acknowledged. If, on the other hand, your target market is executives, then a higher fee isn’t just warranted — it’s a must. They will expect a higher price, and will not find value in the lowest-cost provider of anything, whether it’s coffee beans or business coaching.

Finally, don’t forget that pricing is never set in stone. It’s flexible. If you find you’re attracting the wrong market (or no market at all) you can always change your rates. Working too hard for not enough return? Raise your rates.

It’s your business. You get to call the shots. 

Wednesday, November 11, 2015

Lessons From the 7-Step Product Creation Challenge Q&A Call

Yesterday, I hosted a Q&A call for participants in the "7-Step Product Creation Challenge" -- a self-guided program to help career industry professionals develop their first -- or NEXT -- information product.

Here are five tips that I shared on the Q&A call that may help you create your information product -- whether that's an ebook, tip sheet, membership program, webinar/teleseminar, live program, or self-study program for jobseekers.

The first tip is START WITH YOUR WHY. What is your motivation for creating an information product? The two biggest "whys" for resume writers and career coaches is usually one -- or both -- of two things. The first reason to create an information product is to generate passive income (and/or recurring revenue) in your business. For most resume writers, they are only making money when they are directly serving clients (1-to-1 work). An information product allows you to make money even while you're sleeping, while you're doing "family things" or even when you're serving clients!

Speaking of serving clients, that's the second reason you may be motivated to create an information product: A well-designed information product solves a problem for a jobseeker. Many resume writers who have developed their products did so because their clients had a need. Here are just a few examples:


The second tip is START EASY AND CREATE OFTEN! Many career services professionals I talk to want to create something big, like a home study training program or a hardcopy book. Instead, if you're creating your first information product, start with something small -- a tip sheet, an ebook, or a teleseminar. Once you've created one, you'll find it easier to do another one!

But DON'T REINVENT THE WHEEL. That's tip number three. Do you already have something done that you can re-use? Look through your email inbox and see what questions you answer over and over again for clients. Then take the content that you've already sent to clients (copy-and-paste from your emails!) and do something with it! And don't forget that Pass-Along Materials are ready-to-go content you can put to work right away!


The fourth tip is to DEVELOP ONCE AND PROMOTE OFTEN! Once you've created your first (or next!) information product, your work isn't done! The next step is to continue to promote it! You can't just "build it and they will come." Make it a point to promote your product -- post about it on social media. Do guest blog posts or be a guest on podcasts where your ideal client for that product hangs out! Excerpt it!

Finally, JUST GET STARTED! One thing I said over and over again on the call was: "Done is better than perfect!" You can always go back and add to the information product. But getting something done and out there is a huge motivator! If you want help creating an information product for your career services business, take the 7-Step Product Creation Challenge! It's just $37 for the self-guided program. It walks you through the process, step-by-step!

Friday, November 11, 2011

Create An Interesting Logo for Your Resume Writing Business

I'm married to a graphic designer. So I'm accustomed to looking for -- and recognizing -- great design. Many years ago, when I started Resume Writers' Digest, I was the go-to source to check with before new resume writers named their resume business. My database of more than 4,000 resume writers was a good resource for checking to see if a business name had been taken.

With the advent of the BeAResumeWriter.com member directory, I'm now getting a window into great resume writing business logos. Whether you have a free or paid account on BeAResumeWriter.com, you can upload your business logo as part of your directory listing. (If you're not a member of the site, or you're not logged in, you can't see the business logos. But log in as a free member and you can see them!)

An interesting logo is often one of the keys to brand recognition. It's great if someone can see your logo and immediately feel connected to you and your resume writing business. That's tremendously powerful -- especially because the job search and seeking out a resume writer are intensely personal experiences. Making an emotional connection with your logo can immediately build interest, excitement, and trust. Almost every resume writing business can benefit from creating an interesting logo. Here are some tips and strategies to help you do just that.

Relevance
Consider the career services industry. The first thing to think about when you're creating a logo is that the images, colors, and fonts you use all need to be relevant to our industry. Creativity is one of the hallmarks of being a resume writer. So is professionalism. Please, please don't use Comic Sans font in your resume business logo! Just as an IT management company shouldn't use Zapf Chancery as their font, your resume business shouldn't use something as boring as Times New Roman in yours!

Also consider images and graphics. Logos connected to writing tools, paper, and writing implements make sense. Check out these logos:





Attention Grabbing
Your logo will ideally grab your prospect's attention immediately -- in a good way. There are shocking and sometimes awful logos that grab your attention. However, generally that's not the goal. You want to make a strong positive impact. Eye catching simply means that it stands out from the other logos in your industry and on your website and marketing materials.

Here's my business logo. We selected the color to be eye-catching. And the image of the light bulb evokes creativity and inspiration.











Here's the new BeAResumeWriter.com logo:

He also did a vertical version (for use with Facebook and Twitter):



Consider how your logo will look both online AND offline.

Easy to Read 
You might think this would be an obvious element to an interesting logo. Yet many logos are downright difficult to read. There are many factors that play a role in readability. They include the font and also the font size. Also, the background color and the color of the lettering are important. For example, yellow lettering on an orange background could be very difficult for most people to read.

Ugh: 

Ugly: 


Simple
An interesting logo doesn't need to be complicated. In fact, visually complicated images are often ignored. Simple, strong and clear logos tend to perform much better than trying to convey a complicated message.



Brand Image
Also consider your brand image. Ideally your logo will match your brand image. For example, if your resume writing practice focuses on federal resumes, then you will ideally choose colors and images that support that brand. It wouldn't make sense to go with a gray logo with black lettering in this case.


Memorable
Finally, an interesting logo is memorable. Think about the logos that are forever embedded in your mind. Coca Cola, McDonalds, Nike, Google, Harley Davidson, MTV, Gucci, Target, and Starbucks are all memorable logos that you can probably envision without too much effort. These logos are simple, memorable and they relate to the companyĆ­s brand and personality. In fact, they contribute to it.

You can create your own logo with a little time and effort. There are very useful design programs online. If you're struggling to create your own business logo, consider hiring a professional. (But not my husband ... I've got plenty of projects lined up for him to work on!) Having a logo designed for $100-$300 can be a great investment in your business.

Saturday, August 13, 2011

NRWA Conference Preview

Yesterday, I was on a free teleseminar call sponsored by the National Resume Writers' Association (NRWA), previewing their upcoming conference in September in Portland, Maine. While I'm unable to attend due to family commitments, I was interested in hearing what was planned -- and I'd like to share a couple of the highlights with you.

(You can listen to the call recording here).

The call was facilitated by Kathy Sweeney and featured several of the conference speakers, including Barbara Safani, Kimberly Schneiderman, and Norine Dagliano.

On Friday, Sept. 23, Barbara will present on "Social Media in Job Search: No Longer Optional."

  • "A resume isn't enough anymore," she says.
  • Social media profiles allow candidates to better compete.
  • Resume writers have a great opportunity to educate clients on what else is out there (in terms of social media profiles and tools) besides LinkedIn.
  • This session is important because "resume writers need to keep up with the times."

On Thursday, Sept. 22, in one of the concurrent breakout sessions, Kimberly Schneiderman will present "Boiling It Down: Marketing Your Most Accomplished Client Through a One-Page Document."

  • These one-page documents won't replace the resume, but are an additional tool.


On Saturday, Sept. 24, Norine Dagliano will talk about "Same Client - Different Story: Tools and Strategies for Crafting Career-Change Resumes."

  • She's had numerous clients coming to her with the challenge that "what they had done, they may not be able to do anymore."
  • Traditional resume formats don't work for career changers.

Finally, Kathy Sweeney talked about the presentation she'll give on Friday, Sept. 23 on "Trademarks and Copyrights 101: How to Protect Your Business Name, Logo, and Intellectual Property." On the preview call, Kathy talked about how she's had her website content copied, her articles stolen, and her business name used by other people. She also talked about how she had unintentionally used the name of another business (despite conducting a trademark search). After she had invested time and money in creating a website, blog, and radio show, she received a cease-and-desist letter from another careers industry professional who, she soon discovered, owned that brand. She immediately changed the consortium name, but had to re-record 12 radio shows with the new name.

Sweeney said her talk will help resume writers:

  • Protect your business
  • Protect your reputation
  • Protect your intellectual property
  • Make sure you're not infringing on someone else (even accidentally).

For more information about the NRWA Conference, or to register, visit the NRWA website.
A two-pay conference registration option is available for one more week.