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    <title><![CDATA[Discussion on Eight ways IT consultants can succeed in a turbulent economy ]]></title>
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        <title><![CDATA[Know your market]]></title>
        <link><![CDATA[http://www.techrepublic.com/forum/discussions/102-306127-3052895]]></link>
        <description><![CDATA[I understand ... that's why I commented with the know your market advice.For example, up here, we're in a niche-buying binge. (Someone suggested that too many people are afraid of making a mistake and being fired.)You know and I know that QB is common across all industries. (For that matter all accounting packages are.). Each business will have variations but they're really pretty minor.But if I go to the market up here with QB, I'll fail. Why? Because the clients want me to have 10+ years in their industry. (Plus only be 1 year out of University and have an accounting designation but that's another matter ... able to jump over tall buildings in a single bound would be nice as well... flying is out though, too capable so you're obviously too expensive). So, in this market, I'm much better off picking two or three niches (say, Doctors, bankruptcy trustees and art galleries) and then specialize in QB, Accpac and whatever other accounting package is on the horizon.The key is to know the market (and niche) well enough that you can pick niches that react to economies in reverse (e.g. When trustees are busy, art galleries are down. When art is selling, trustees are down.).Of course, when looking at software it's a little harder to find two opposing reactions.(Your pricing comments are right on BTW.)Glen Ford, PMPhttp://www.trainingnow.ca]]></description>
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        <dc:creator><![CDATA[PMPsicle]]></dc:creator>
        <pubDate>Thu, 09 Apr 2009 08:54:10 -0700</pubDate>
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        <title><![CDATA[RE: Know Your Market]]></title>
        <link><![CDATA[http://www.techrepublic.com/forum/discussions/102-306127-3052593]]></link>
        <description><![CDATA[Thanks for the comments. I appreciate your taking time to write and share your thoughts.While pricing pressures increase during recessions, significant deflation is typically more a symptom of a depression, not a recession. That said, every locale is different. I meant to say that consultants should avoid knee-jerk reactions and resist reducing rates whenever possible. In my city, competitors continue charging the same rates as in the past.As for niche markets, my fear is that, should a consultant have focused on a too narrowly focused niche (such as realty or new auto dealerships), they may well find themselves in trouble. Whereas, if a consultant brushed up on QuickBooks or other common point of sale system skills, they may well find demand for their services rising (Intuit sales are showing strength).That's what I meant when I wrote &quot;by targeting clients across a variety of industries, you can better insulate yourself from the effects of economic recession.&quot; In the article, I mentioned Windows skills will be more in demand than, say, Sage Intergy skills (that target only physician offices). My Intuit example, above, is another example (multiple retail verticles, such as book stores, art galleries, boutiques, plumbing shops, nonprofit gift stores, etc. all use that platform). The broader the need for your &quot;niche&quot; skills, obviously, the better you'll do.]]></description>
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        <dc:creator><![CDATA[Erik Eckel]]></dc:creator>
        <pubDate>Wed, 08 Apr 2009 19:04:52 -0700</pubDate>
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        <title><![CDATA[Logos on cars]]></title>
        <link><![CDATA[http://www.techrepublic.com/forum/discussions/102-306127-3052592]]></link>
        <description><![CDATA[I just bought a new car Saturday. Leased it actually (as that makes more sense for the business).I haven't had a chance to add the vinyl lettering to the vehicle's windows, yet. In the interim, I am noticing some joys of anonymity. That said, I'll be adding the logos soon enough. They pay for themselves many times over, in my experience.]]></description>
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        <dc:creator><![CDATA[Erik Eckel]]></dc:creator>
        <pubDate>Wed, 08 Apr 2009 18:50:50 -0700</pubDate>
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        <title><![CDATA[Good insights, Glen]]></title>
        <link><![CDATA[http://www.techrepublic.com/forum/discussions/102-306127-3051610]]></link>
        <description><![CDATA[Especially &quot;constantly innovate.&quot;  Think of ways to add value that your clients (and your competitors) haven't thought of yet.]]></description>
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        <dc:creator><![CDATA[Sterling "chip" Camden]]></dc:creator>
        <pubDate>Tue, 07 Apr 2009 11:01:29 -0700</pubDate>
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    <item>
        <title><![CDATA[Know your market]]></title>
        <link><![CDATA[http://www.techrepublic.com/forum/discussions/102-306127-3051374]]></link>
        <description><![CDATA[I have a problem with two of your items, plus two additional items.The first additional item is to know your market. Different markets act in different ways. Unless you really know your market (however you wish to define it), you can't make the necessary decisions.This leads directly to the issues I have with the listed ways.The first issue is with the Keep Your Regular Rates. Generally, the recommendation is correct. The reality is that most small business people undervalue, and underprice their product/service. There is a point at which your total profit (unit sales x (sales price - unit cost) ) is maximized. As sales price goes up, the unit sales will go down - BUT NOT AS FAST UNTIL YOU EXCEED THAT POINT. In a recession that point is typically BUT NOT ALWAYS reduced. You need to know your market. You also need to know if you are in a false market situation (for example where 3rd parties are heavily involved). In that case you will automatically get noise that the rates are falling. This may or may not be true. The 3rd party may be trying to reduce your rates to make up their reduction in quantity.The second issue I have is with Choose Niches Carefully. While I definitely agree with the title, I'm not sure the advice is appropriate. Remember that a niche is really only a way to describe a group of customers. It's a way for you to understand a group of customers and identify how to connect with them. In a recession you need to connect closer to your clients. Selecting a vertical niche (e.g. doctors) is a technique to connect. Selecting a horizontal niche (e.g. accounting packages) doesn't allow you to connect to the client in the same way. (Key: know your market -- there are exceptions). In addition, one of the negatives your market MAY be experiencing is the tendency of niche-buying. That is where your client wants to hire someone exactly like themselves. Horizontal niches are suicide in such a market.However, I'm wondering if Mr. Eckel simply didn't explain his opinion clearly enough. The other missing way is to constantly innovate. Look for other niches where your skills could solve a problem they are experiencing. This is one essential characteristic of entrepreneurship. Look for ways you can provide a innovative solution to a new niche.So the net advice I would suggest is to add additional vertical niches but avoid the horizontal niches suggested in the article.Of course, your mileage may vary ... know your market first!Glen Ford, PMPhttp://www.trainingnow.ca]]></description>
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        <dc:creator><![CDATA[PMPsicle]]></dc:creator>
        <pubDate>Tue, 07 Apr 2009 07:57:09 -0700</pubDate>
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        <title><![CDATA[Professional logos on vehicles]]></title>
        <link><![CDATA[http://www.techrepublic.com/forum/discussions/102-306127-3050740]]></link>
        <description><![CDATA[When I worked as a consultant, the company was thinking about paying anyone in the company who would paint the logo on their car.  No takers.  This was in the Boston area, and I wasn't about to give up honking at other drivers or opening my window, extending my arm, and &quot;communicating&quot;, which might hurt the company image if I have their logo all over my car.BTW, I'm not gennerally an angry or aggressive driver.  I just wish people would use those turn signals.]]></description>
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        <dc:creator><![CDATA[sidekick]]></dc:creator>
        <pubDate>Mon, 06 Apr 2009 09:37:39 -0700</pubDate>
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