In Chaos, there is Opportunity.
An ode to staying steadfast in your pricing during an economic downturn
In Chaos, there is Opportunity. In Chaos, there is Opportunity. In Chaos there is Opportunity. I have been saying it over and over to myself as a mantra for the past few weeks as the world has taken a shape that is totally unfamiliar to me and frankly somewhat scary.
I don’t mean it in the sense of go ahead and stockpile toilet paper and then sell it at a marked-up price. No. I mean as freelancers and entrepreneurs we are in a unique position to thrive in this unsettled world and we shouldn’t settle for anything less.
We don’t have to hang onto hope that our jobs may be there for us when self-isolation lifts. We can make our own opportunities. Yes, it may be difficult. But that has never stopped us before. Entrepreneurship has always been synonymous with uncertainty.
I am not of the camp that, when the bans lift, our lives will look like they once did. There is going to be a lot of suffering, job loss, and disfunction. Nonetheless, I have committed to myself that in this period of economic downturn that I am going to flourish. Not on the backs of others but by realigning myself with my true purpose and by providing real value to my clients.
As a digital marketing consultant, I have already felt the pinch. Marketing tends to be one of the first things that people cut to protect their cash flow but that, my friends, is a mistake. Marketing, especially digital marketing and SEO, is all about consistency.
I have communicated this to my clients and guess what? Instead of leaving the fold, in some cases, they have doubled up their efforts or we have come up with a pivot strategy. Instances like this reaffirm to me the power of believing in my product and the value that it provides.
You don’t have to follow the trend of slashing your prices out of fear just because “everyone else is doing it”. There is so much inherent value in what you do outside of the tangible product.
If you are a copywriter you are not just putting words to paper. You are driving leads, building brand identity, and fostering a community. If you sell handmade soaps you are not only producing a product that washes the body. It can also cleanse the mind and make you feel like a self-care superstar.
Don’t be an asshole and make concessions where you think it’s appropriate. But don’t lean into the guilt. You deserve a paycheck that will get you through these tough times just as much as your clients do. You provide real value and will be recognized for it if you recognize it in yourself.
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