From the course: Become a Marketing Entrepreneur
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Projections and price
From the course: Become a Marketing Entrepreneur
Projections and price
- [Instructor] Hey, I just heard the great news, you landed your first client, congratulations! I'm sending you a virtual high five. Now, I don't want to be negative about it, but you knew that was coming, didn't you? Did you budget enough for the work and the work of any partners involved? How did you set your rates? And how will you use the cash you collect to refine your revenue projections? Believe me, it is tough to develop revenue projections at the best of times, let alone before you launch. Because you don't know how the market will react to your services, so you have to make assumptions. Projecting revenue is one place I fell down. I was so optimistic about the possibilities. Mine were way too high. I based them on how busy I was at the agency I was working for, and that turned out to be no indication at all. My advice to you is to reduce your projections by 30% and then cut them in half again. And no, it…
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