Top tips from top Jewish business people
Can you make a good parnasa as a frum therapist
If you asked me my #1 tip for increasing your Parnasa ASAP, this would be it: Make more of the opportunity you already have.
Sometimes we feel such pressure for new customers or a new job that we overlook what we already have, which is the most valuable and easy oppurtunities of all.
Here are some practical examples of how you can make more parnasa ASAP using this principle:
- If you have a job that pays too low, ask for a raise. If you are cautious about doing this, to ask that they give you a raise in 3 months if you perform to certain standards
- If you are considering a job but they are offering less money than you want, agree on condition that they will give you a raise in 3 months or 6 months if you perform to certain standards
- Reach out to existing customers and offer them more products/services, or offer them some sort of bonus or referral fee if they recommend you to others
- Instead of feeling pressured to study a profession, look at the skills and contacts you have and figure out how you can monetize them
- When starting a new business venture, chose a field where you already have experience and contacts. Don’t invest in an industry that you don’t understand.
- If you have a potential client on the phone, offer them a time-sensitive discount if they book your services today. A client on the phone is a burning hot lead and if they don’t book you today, the flame will cool off and they probably never will.
- If there is a quality client who is on the fence about using you, offer them a heavily discounted trial or a free trial, just to get them on your books. Then you have the chance to make yourself necessary to them.
- Tell everyone you know what you do and what kind of customers/job you are looking for. You never know where this will lead.
My cousin Shmuel Merchav, a well-known business consultant in Israel, once gave me some valuable advice: “Never lower your prices, but give all the discounts you want.” This is just so true. Set your rates high but give discounts out at times when you need to attract particular customers. They feel like they are getting a great deal on a high-end product and this is a big incentive to hire you, more so than if they perceive you as low-cost. Your regular rates should always be generous enough that it allows room for real discounts without harming your earnings.
New opportunities are a wonderful thing. But one thing is certain, it is much easier to make more of what you already have than start from zero with something new – be it a new customer, a new business, a new career, a new job, or any kind of new opportunity.
Let me re-emphasize that: starting anything new is difficult and risky. Go with what you know.