You want freedom but you feel you may just be jumping out of the frying pan into the fire.
You want to have a healthy income and have more time. Yet running your own business means you have to do the work and put in the hours. Which can mean longer hours and just as much stress as being in your day job.
A high percentage of employees set up their own business and then find themselves working more hours than when they had a steady pay cheque.
But a small percentage of business owners know the real secret to having a healthy income without burnout. It all lies in the way you package up your skills and talents and the amount of value you provide.
A large majority of business owners are still stuck in the charging by the hour trap when they should be packaging services.
The founder is required to deliver the service, and the value and service varies depending on the skills and talents of that one person. The problem with charging by the hour, and having a bespoke service business for your clients, is that there is no consistency.
Having a bespoke service business means that there are no specific systems or processes. This leads to lengthy proposal writing, haphazard delivery and “winging it” on a regular basis. Charging by the hour is a dangerous move for your health and your business. People don’t value the amount of time you spend helping them, they only value the results they get from working with you.
An example of this is personal training.
Would you rather pay a personal trainer £50 an hour indefinitely (for days, weeks, months or even years) and not know if they can help you loose the 2 stone of weight, or would you rather pay for a 3 month health and fitness programme (that included personal training) that if you stuck to it rigidly you would definitely lose the 2 stone and be fitter and healthier?
A personal trainer may argue that this is something that cannot be guaranteed. However I have worked with many, many personal trainers that have created programmes that produce this dramatic result.
They charge on VALUE rather than hours. One personal trainer charges £30,000 a year to work with him. His clients don’t buy by the hour that is for sure!
When you see the value you can create through being specific in your offering, you no longer offer wishy washy services.
Generalisation (wishy washy services) means you compete in the same client pool as everybody else. You end up competing on price, and you end up burnt out and disheartened as you are working ‘in’ your business way too much.
The solution is to package up your skills and talents based on the value you provide. It separates you from others and means you can charge a premium for your services. Doing it any other way is just plain nuts! It’s a simple solution for bigger revenue and profits. It is also a simple for solution for customer satisfaction. If you package up what you do, and sell on the value you provide, your customers will be delighted by their guaranteed results.