Recently I had a conversation with a fellow podcaster about profitable niches, and he point blank asked me if I thought serving creatives was a bad niche because they are not normally the type to pay for help. His question gave me pause, and I had to think for a moment on how to respond.
I wasn’t lost for words, but more lost for coming back with the most eloquent response. The way I saw it, his point of view was based on the same scarcity that so many creative individuals find themselves in because of would-be societal norms.
Before I made a rash judgement, I asked him for some clarification. He responded that he had worked with a few small design agencies in the past, and they all seem to believe it’s essential to bootstrap their business, or in other words, do all the work themselves because that saves them money they can reserve for other things, like collateral, business machines, etc.
I told him that it’s true, many creative business people have a tendency to use the “starving artist” mindset as a badge of honor, and it comes down to the programming they’ve received since they were kids, but I think there are plenty of people out in the world who are willing to get the help they need, either from someone like me, specialized contractors, or assistance with their daily routines—they just can’t read the signs yet.
I went on to say that there are enough people that get it to keep me in business for awhile, but the chore is finding those actively minded individuals—the ones that are ready right now. Honestly, it’s harder than I originally thought, but while I search for more like-minded folks to work with, I have faith in being able to convert some of these others who are just about there, but don’t know they are just about there.
You see, when it comes to finding people that make good clients, especially those willing to pay, they have to know not only my value, but their own [Tweet It] . They have to know they are worthy of their own profitability.
When someone gets through to them about how spending money in key areas can often gain them more revenue; that’s when the lightbulb goes on. I’ve seen it happen several times with clients where I drop a knowledge bomb on them about outsourcing certain aspects of their business, and they look at me like I hit them in the face with a wad of cash—unsure how to react, but BOOM, instant money clarity.
You are Standing at Ground Zero
Mind you, I don’t have wads of cash to throw at all of your faces, and I didn’t intend this post to be all about the different ways you can outsource your efforts in order to gain more revenue, but let me bestow some general points of view on the subject.
- You know that thing you do, the one you hate, but you feel like you need to do it or it won’t get done? Get someone else more qualified to help you. They can do it better, faster, sometimes cheaper, and it frees you up to do things like create more cool shit.
- If you measure your value by an hourly wage, and a project takes you two hours what a professional could do in one, even if that professional’s hourly wage is more than double yours, you still come out on top, because while their doing the grunt work, you’re doing the creative work, which makes you money, and therefore puts your balance sheet in the black.
- I challenge you to name one highly successful artist, designer, photographer, maker, chef, writer, entrepreneur that works 100% by themselves. Actually, don’t bother, because that person doesn’t exist. Successful people get successful because they elicit help in areas that they are weakest from specialists who can it faster, better, cheaper.
Becoming a profitable business person is as much mindset as it is action. Yes, you need to sell, but you also need to believe you can sell.
In order to believe, you need to realize that you might be standing in your own way. As soon as you realize you can get help with these areas you’re struggling with, and it means you can start making more money with that extra time, then your mind can be open to thoughts on profitability because instead of worrying about every aspect of day-to-day operation.
Now I turn it back to you. What is that thing you do that you hate doing but force yourself to do because it needs to be done? How can you eliminate that task from your to-do list and put it in the hands of someone else? Give a shout in the comments below about the actions you’re going to take to make your business more profitable this year.[Photo Credit]