LEVERAGING CAPACITY

In an earlier post, I discussed the importance of Respecting Capacity. 

But I've come to appreciate another facet of capacity that relates to our business - viewing capacity as an asset in your business and leveraging it for maximum profit. 

Used to be that I got nervous if I was booked up for less than 3 weeks in advance. I was used to being booked 6 - 12 weeks out and that demand felt good, felt secure. 

But these days... 

I've come to appreciate the flexibility and freedom that comes from being a little less booked. Being booked up 2 or more months in advance really ties you down and limits your opportunities. You can really get behind easily and struggle to keep on schedule and manage your stress. Having slack in your schedule allows you to take on short notice work where quick completion is the priority, rather than cost. Being selective about the type of projects and the amount of work you take on, especially in a hot market, allows you to charge higher prices and work for better clients.

Just another way to think about what assets you have. Perhaps you are new and don't have a lot of work yet. Instead of getting down about not having customers lined up around the corner, why not re-frame your situation and look at your availability as an asset that can be leveraged to create value for your clients and yourself. While the established painters are booked up for the next year, you have flexibility to cherry pick the customers that are desperate for a good painter.

Which other intangible assets besides availability can you leverage for higher profit and lower stress? ​