The true spirit of networking, I believe, lies in a heart that truly wants to connect with other human beings, even if there is no clear agenda.
When I arranged a coffee chat with Imran Tahir, I didn’t really know why we should meet, and how we can benefit one another. I got to know Imran through a collaborative book project called “Reluctant Networking” which was lead by Mr Mervin Yeo. Both Imran and I were contributing authors. Imran came across as a sincere and purpose-driven person, who was also business-savvy.
We talked about the work we were currently doing, and Imran shared some rather fascinating consulting work he was doing with a client. I also shared some ideas I was working on.
To my delight, the next day, Imran sent me a long text about how I could implement my ideas. It’s effectively a road map. He also shared with me some guidelines of how I can adapt my pricing as I go along.
Long story short, this is the gist of what he shared:
1st Run – Still fresh out of oven, no results or testimonial yet.
Materials still unrefined, structure not firmed. Lots of WIP concepts and execution.
Pricing best to be at cost price or below cost. With promotional offers to entice sign ups further
2nd Run – Some results , some testimonials, Structure is better. Materials tested. Lesser WIP ideas.
Better confidence in delivery > Can bump up price by 15%-20%
3rd Run – There’s strong proof of concept, demand is growing. You can bump it up another further 15% – 20%
4th Run – There’s strong demand, but time is scarce and other business and offer needs to be developed. Means price and availability needs to be adjusted. Maybe price increase by about another 15% – 20% again of what you’re comfortable charging.
This framework can be adapted to workshops or courses alike.
Thank you, Imran!
PS If you want to connect with Imran, this is his LinkedIn profile (https://www.linkedin.com/in/imranbmt/)