Before my business evolved into what it is now, I was trading my time for money, dollars for hours. As a website designer and developer, I charged by the hour. As a writer/editor, I charged by the hour. As a public relations and marketing consultant, I charged by the hour.
Do you see the problem here?
There are only so many hours in the day, right? And if I wanted to pay the rent, I needed the majority of them to be billable hours, which left little to no time for marketing. As you can imagine, without the time to market my business, I struggled to get clients.
But I don't struggle anymore, and here's why: it's called leverged income – multiple streams of leveraged income – that enables me to work with much fewer (but more of my ideal) clients one-on-one, and gives me much more time for marketing and growing my business with a lot less effort.
Okay, so what exactly can YOU do to step struggling, to stop trading time for money, so you can actually work less and make more?
Here are three quick tips Im delighted to share with you:
(For even more details on how I broke the 6-figure mark while only working about 8 hours a week this past year, leaving me plenty of time to spend with my preschooler, her baby brother, and my husband, join me for a FREE one-time-only teleseminar Tuesday, February 17th. Register here:
1. Use the funnel method of marketing.
I talk about this constantly, but it's such a powerful model (that actually works) that I want as many businessowners as possible to embrace it. If you set your business up within this system, it will automatically do your marketing for you. And it's the best kind of marketing – the "set it and forget it" kind!
2. Stop trading time for money…
…and start creating products that will bring you leveraged income. You can create products from knowledge you already have, in a way that is easy to package and deliver, such as an ebook. Taking your expertise and bottling it actually allows you to help more people than you ever could one-on-one, and it lets those prospects who might not be able to afford your one-on-one fees an option of still working with you, just in a different format.
3. Raise your fees.
Once you start offering products and start bringing in leveraged income, raise your one-on-one fees. Now don't gasp! What will raising your fees do? It will allow you to gracefully let go of some of those less than ideal clients and let you work with more of those whom you are best suited to serve. The increase in fees will, at the very least, offset the loss of revenue from the clients that have dropped off, but ultimately you will bring in more revenue by taking your business to a higher level of quality and commitment. It will also give you more time to create more products!
Structure your business around this model and you will enjoy working with more of your ideal clients and customers, create more income by way of packaging your knowledge into products, and give yourself more time to spend building your business and creating your life to the highest vision of it you can imagine.