You’ve got this great client. Let’s call him Phil. You’ve been working together for years, and you think the relationship is pretty rock solid. And then one day Phil calls you out of the blue and says ‘Look, we've enjoyed working with you all these years, we've really enjoyed it, but times are tough. We're gonna need you to give us a 20% discount going forward please.”
This post explains why firms need to avoid impulse bidding when times get tough. And Keith Dugdale, our guest blogger, advises what firms should be doing instead to win new work.
‘Panic stations’ is a feeling all too many firms experience as they head down the slippery slope of starting to believe ‘Because you never know, we just might win’, ‘Anyway, we really need the work’ and ‘We’ve got salaries to pay, and there’s not much work around.’ (more…)