How you can make money by working less
For many of us, we’ve heard the phrase, ‘money doesn’t grow on trees '. It has been deeply ingrained into the vast majority of us that money isn’t easily accessible and available to us. Over time, it cements in our minds to continuously remind us that we must work hard in order to get money; the more we work, the more successful we become, and the more money we will make. So in order for you to ever truly be able to create financial AND time freedom, you must eliminate these limiting beliefs.
Here’s the truth…
There was a period when I was working as a Social Media Manager, charging just £250 a month for full-blown management, and I quickly came to realize that the amount of work I had to do could not justify the little amount I was getting. I had to ask myself, how the heck do I fix this?
So I’m about to help you do JUST that. In this blog post, I will be giving you 3 actionable tips on how to tackle the challenge of working less WHILST being able to generate even more money than ever before.
Let’s get right to it!
1. shift from hourly pricing to project pricing
The first trap people fall into when pricing themselves hourly is that they don’t take into account the actual amount of hours. Think about this, did you include the time it took to write that invoice? (Probably not). Or what about the hours of courses that you’ve undertaken? (Whoops, forgot that one as well). Not to mention the amount of calls you included in the service? (Didn’t even think of that!). One thing to remember is that your client is paying for the years of experience and knowledge you’ve acquired to get where you are, not just the time that it takes you to execute a project.
Another thing to consider is creating the perfect package for your clients (and charging your worth for it!). Think about the value that you are providing and what the return on investment might look like for them. Once you have an initial package price you can venture into tiered packaging and pricing.
Hey you! Want to know how we price ourselves here at Social Cactus? Head to our IG post right here to find out.
2. review your product suite
The best way to do this is to take your 1:1 offer and make it into a 1:many. Distribute your services to a group at a lower price point to deliver one offer to more clients. Imagine if you could reach more people, more accessibly using up less of your time resulting in a hell of a lot less stress, the ideal situation right? Thinking about a Mastermind or Group Programme but not sure which one is right for your biz? Head here for some helpful hints in helping you decide.
If that’s not cutting the mustard for you, think about how you could make a passive income stream through your expertise. Maybe you could make an online course? Or, create a resource pack that helps your target audience in some way? This could be as simple as repurposing something you’ve previously done about a topic that you know people are itching to learn about. You can literally make money in your sleep, pretty neat eh?
Another way you could switch up your suite is by creating a membership programme. Membership programmes are an epic way to keep in close contact with your target audience so you can understand their pain points straight from the source. They are also a solid opportunity for you to create customer loyalty with exclusive discounts and reward schemes for your offers.
3. outsource tasks and focus on your zone of genius
Trying to do everything will eventually lead you to burnout and create a ceiling on your earning potential. Think of the tasks that don’t bring you joy or don’t earn you money directly and instead of exhausting yourself on it, outsource the task(s) to someone else.
It can be a tough call to hand over your business to someone else after the blood, sweat, and tears that have been poured into it - we get it. But learning to delegate those tasks to someone else and making space for you to focus on your zone of genius is a sure-fire way to make more money in less time.
It’s true what they say ‘one man’s trash is another man’s treasure’ and that’s the same for work tasks. Hate invoicing? IG make your blood boil? There’s someone out there who LOVES to do the tasks you hate. So why not save yourself the hassle? It’ll probably get you better results too.
If you’re serious about hiring a team to elevate your business - check out this post for some golden nuggets on how to go about it.
And there you have it, our top three tools to earn more money whilst working less (A.K.A making more time for Prosecco-drinking). As you continue into the jungle of business ownership you’ll become more comfortable with taking risks and investing in yourself to get a step closer to the life you always dreamt of, whatever that looks like for you. And from Team Cactus, KEEP GOING AND YOU GOT THIS!
Cheers to you!
