(Continued after the Jump)
TRANSCRIPT:Here a few thoughts about paradigms for old clients verses your new clientele that you might be dealing with. I'm John Harrington. In a situation where you're raising your rates, you're increasing how you charge for the work that you are providing, dealing with contracts in a different way, however you are changing your business model if it's a substantial change, all of your existing clients may actually not react very well to it. They may object to increased pricing or what have you. So the important thing to do as you're evolving in a new business model is to leave your existing clients in the old paradigm the all the way of doing business. That will help you pay your bills and continue to pay your bills. As you evolve into a new business model then your business model could be more expensive and your old clients may not understand. But, as the phone rings with new clients, providing them with your newer rate structure, you're more sustainable rate structure, is really the way to evolve from one business model to a better and newer business model.
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