Archive for the ‘Earning’ Category

Dear Danielle: Should an Administrative Consultant Have One Specialty?

Dear Danielle: Should an Administrative Consultant Have One Specialty?

Dear Danielle:

In your opinion should an Administrative Consultant have one specific specialty, or should you specialize across a few specialties to maximize profitability. My idea is to focus on providing admin services to local small bankruptcy law firms, who may not have a paralegal on staff, as I have extensive work experience as a paralegal. Any insight on this would be most appreciated. Thank you an advance for your help. —TR

Thanks for the question… because it’s something I see a lot of people confused about in the administrative support industry at large.

In an Administrative Consulting business, you already have a specialization: administrative support.

What you’re in business to do is already your specialization.

What I see a lot of people not understanding is that administrative support is a specialization in and of itself.

They confuse being an administrative assistant when they were an employee (who very often had everything-and-the-kitchen dumped on them without any say-so or proper additional compensation) with administrative support as a business.

One is a role of employment while the other is a specific expertise. They are not one and the same thing.

And what you don’t want to do under any circumstances is run your business and work with clients as if you were their employee.

First of all, it’s illegal. Second, because it’s unprofitable and unsustainable.

When we talk about specialization in the Administrative Consulting business, we’re talking about having a target market, which is simply a field/industry/profession you cater your administrative support to.

You provide a good example: Bankruptcy attorneys is a target market.

Generally speaking, attorneys is a target market and the practice area of bankruptcy attorneys specifically would be called your “niche” or “specialization.”

My target market is attorneys as well, but specifically intellectual property/entertainment law attorneys.

See what I mean?

The reason this is the useful thing to focus on is because (in the case of our example of attorneys), one practice area can do such drastically different work from another practice area, that the administrative support would be completely different as well.

The marketing message you would need to come up with if you worked with estate law attorneys would be very different from the one you’d create if you were speaking to criminal law attorneys.

I have a number of blog posts that elaborate on this topic. Dig around in the Target Market category and I think you’ll find some that hit this right on the nose for you.

As far as profitability goes, I would need a bit more information about what you are worried about. I think it does, however, pinpoint a fear that a lot of people new to business in our industry have.

They think if they focus on a target market they’ll miss out on opportunities. In fact, focusing on a target market makes marketing your business and getting clients vastly easier.

That’s because instead of being a meandering generality, they become a meaningful (and more compelling and attractive) specific.

The market expects to pay those with a specific expertise (like that of administrative support) much more than those they perceive as merely gophers and jacks-of-all-trades (e.g., the person who will do anything just to make a buck, from whose website it isn’t clear what exactly they do, whose marketing message is all over the map).

Plus, there is so much constant mental switching of gears when you try to be this, that and the other. That in itself is unprofitable (Been there, done that.)

So I would tell you: focus your business on the one thing. You’ll be perceived as someone with a specific expertise (in our case, the expertise of administrative support), your business will be easier to run and the work easier to do (which makes it more profitable), you’ll get clients much more easily, and you’ll be able to command higher fees that allow you to make more money working with fewer clients.

Why Should I Pay that When I Can Get a Temp or Offshore VA for $5 Bucks an Hour?

Ever hear a client utter these words?

It’s probably the most grating sentence in our industry today.

But what if you knew exactly how to respond?

What if you offered your services in a way that didn’t focus whatsoever on hourly rates?

Wouldn’t that be a total game changer?

It’s not so annoying when you actually begin to love responding to that question (or when you no longer get it in the first place). ;)

…If you frequently encounter price resistance with clients and want to know what to do about it;

…If you have trouble getting clients to commit;

…If you struggle with articulating your value to clients, talking about your fees, and feeling confident about them;

…If you find the whole topic of pricing difficult, I have the solution!

It’s my value-priced packaging and pricing guide, How to Price and Package Your Support Based on Hours & Expertise — NOT Selling Hours

Value-Based Pricing & Packaging Guide: How to Price and Package Your Support Based on Value and Expertise—NOT Selling Hours (GDE39)

This guide will show you how to:

  • Attract more clients, more easily;
  • Make more money;
  • Create an easier business to run;
  • And toss out those time sheets forever!

…all without discounting, bargaining, or justifying your fees whatsoever!

The Heartbreaking Reality for Most Businesses in Our Industry

I came across something utterly heartbreaking a few weeks ago.

I’ve been sitting on it for awhile, going back and forth about whether or not to have a conversation around it.

I never want to discourage anyone from this business or have anyone take things the wrong way. Because if you set things up right, it is an AMAZING business and lifestyle.

However, it’s a cold, hard truth that no one ever talks about in our industry.

And the problem with not talking about things that are uncomfortable, that aren’t all “rah, rah, kumbaya” all the time, is that you can’t fix what you don’t acknowledge.

What was this thing I came across? An ad for a “Virtual Assistant Business For Sale.”

And what is this cold, hard truth I speak of? It’s that most people in our industry are not profitable and not making the kind of money they can actually live on.

You see, the sad thing about this ad is that it isn’t an exception. It’s actually a very accurate example reflective of what most of the businesses in our industry look like.

Now, before I dissect this for you, I first want to make it absolutely clear: It is not that people can’t make more money in our kind of business; they absolutely can! YOU absolutely can!

It’s simply that they are being taught by the industry at large in all the worst possible ways to price, operate and market themselves (like calling yourself a “virtual assistant”). And it’s keeping them poor, overworked and overwhelmed.

The fortunate thing is that YOU always have the possibility to learn better so that your business can do better for you.

And that always benefits your clients because you can’t take good care of others if your needs aren’t taken care of first.

Here is the ad:

The Heartbreaking Reality for Most Businesses in Our Industry

Let’s examine the problematic issues here:

  1. We see that the business has been around for 11 years. Great! After that amount of time, you’d expect them to be earning really well.
  2. Yet in the first bullet we see they are only making £1900/mo (British Pound) which is $2363.98/mo USD. After that many (11) years, why are they still making that little money? Those are poverty-level wages. Did they mean perhaps that this is the average value per client?
  3. Unfortunately, no, we see in the next bullets that after 11 years they have only 1 retainer client at only £350 GBP/$435.39 USD per month. The rest of their revenues come from 15 regular (but uncommitted/non-retainer) clients and 20 ad hoc clients, which I’m interpreting to mean an average of 20 project clients each month. The problem is that at this number of clients they should be making several thousands of dollars per month! I can’t even imagine (well, actually, I can) how overwhelmed and overworked they are… and for such a paltry sum on money! To give some context/frame of reference, I make more with just one of my retainer clients than they make in an entire month from 36 clients.
  4. They also mention having relationships with two typists. This business owner is barely making ends meet at these figures, where on earth is there any margin to pay anyone else? (Answer: there isn’t.) It means that they are doing all this work at a loss! Especially at gross figures that don’t even account for expenses, operating costs, taxes, etc.
  5. This is not a profitable business in any way, shape or form. What has most likely happened is that burnout caught up to them (no wonder!) and they are now trying to unload the sinking ship. But there are no assets of any value to sell here. The clients it has are being charged such an ungodly little amount, there is almost no way in hell to ever reset those kind of expectations. They’ve branded and positioned this business as “cheap” and there is just nowhere you can go with that. It would be faster, easier and less costly for you to create a business from scratch and establish the brand based on properly set foundations and expectations and charging higher, more profitable professional fees.

Don’t misunderstand me. This examination is in no way a denigration of the business’s owner.

Rather, it’s utterly heartbreaking to me that they have made so little money working with too many clients with basically no commitment and constant churn. I wish I’d had the opportunity to help them early on.

When we talk about these things, there are always a certain number of people who don’t understand why it’s so important to have these conversations.

But bringing this consciousness to the fore is integral to being able to improve things so you can better earn in your own business.

It’s why I’m always talking about money, how you are marketing and positioning your business and brand, how not charging profitably sets you up for failure, about how the expectations and perceptions you create in clients directly affect your ability to charge properly and earn well.

These are the topics that will make or break your business.

It’s this fundamental business education — and not the latest, greatest software or tools — that is key to creating a profitable, sustainable business where you can get, work with and keep great clients (clients worth having who value you, not cheapos looking for a free handout), make great money and that works around and enriches your life and what’s important to you (instead of the business running you).

What could this person have done differently?

  1. Business planning. Going through the exercise of business planning forces you to think through and get clear and conscious about all the important details of your business such as your needs, goals and intentions around money, what kind of clients you want to work with and are worth working with, and what business standards, policies and procedures to establish accordingly.
  2. Getting off the project work merry-go-round. A business based on project work needs a shit-ton of clients and work in order to stay alive. It’s a constant, never-ending hamster wheel of marketing, even while you already have clients and work to take care of in front of you, and you never know where your next meal is coming from. Nothing wrong with project work, but think of it as secondary income, the gravy to the meat and potatoes where you make your “real” money.
  3. Expecting a commitment. Retainer clients (clients who pay a monthly fee upfront for a plan of support) are where the real money is at. A commitment of working together each month allows you to do your best work and gives you something to actually work with to achieve a tangible, demonstrable value and results for clients. But of course, if you don’t ever expect a commitment, you’ll never get one. That’s why it’s so important to set standards in your business around what’s important to you. An expectation that clients must make a minimum commitment to be given a place on your client roster is a standard that will serve you (and your clients) well, even if some of them might not understand that at first. (You’ll have a far easier time getting commitments if you learn how to set up and navigate the whole consultation process and pricing conversation.)
  4. Get clear and conscious about the money. Charging fees based on what you see others charging (who are more often than not just as lost as everyone else) is the worst way to set your fees. It’s not about what everyone else is charging (stop looking at them!). It’s about knowing what your target market values, how you can improve their circumstances with your support and what they gain from working with you, and learning how to articulate that value to them in the context of their business and goals.
  5. Choosing a target market. This business is all over the map when it comes to who their clients are and the work they’re doing. And that is a huge part of the problem. Very simply, a target market is an industry/field/profession that you focus your administrative support on. This specialization is key to making the big bucks. That’s because when you know who it is you are focusing on, you can determine very quickly and clearly what they do in their business and what their common needs, goals, challenges, values and interests are and then develop your support solutions around those things. Your offerings will be much more interesting and compelling that way, and you’ll be able to charge more (because there will be more relevant, specific, higher perceived value) and get clients more quickly and easily.
  6. CHARGING MORE! At the poor fees this business would have to charging to account for so little monthly/annual revenue, it’s a clue that the business owner is not understanding the economics of business. You simply can’t charge rates that amount to employee wages and expect to earn well. Business is a completely different ballgame. It’s why I’m constantly reminding people, you are NOT an employee, you’re a business. There’s also this crazy, but nonetheless immutable law of business:  The more you charge, the better clients you get. And what do we mean by better clients? Client who value you and what you offer. Clients who are invested and make the commitment to working together. Clients who aren’t looking for the free buffet. Clients who are loyal to you and the good work and results you provide them with, not how little they can pay. When you have better clients who make a monthly financial commitment to working together toward established goals, you can make more money working with fewer clients and have more time for your own life in the process.
  7. Stop calling yourself an “assistant.” One of the reasons people have a hard time charging more or seeing their value in a different light (and gaining some business self-esteem and confidence) is because so many of them insist on calling themselves “virtual assistants.” This keeps them thinking of themselves as employees and seeing things through that lens instead of from an entrepreneurial/business mindset. Here’s what you need to understand: Assistant is a term of employment, not business. Terminology (just like pricing) is a part of marketing. How you price and the words and terms you use to describe yourself have a direct influence on how clients perceive you and the expectations, perceptions and understandings they come to the table with. When you call yourself an “assistant,” they don’t look at you as a business owner and advisor. You are teaching them to view you as a type of subservient employee, and what they expect to pay is based on that wrong, harmful perception. When you call yourself an “assistant,” you are predisposing them to value you less, not more.  If you want to be able to charge higher, more appropriately profitable fees, you have to create the proper context. The verbiage and terminology you use directly impacts that context.

I have a couple of complimentary (as in free) business-building tools that shed a ton more light on all of this and will help you course-correct in your own business. If you don’t have them yet, be sure to go get them now.

***

How about you? Why did you go into this business? I’m assuming a large part of it is that you love putting your administrative talents to use and helping clients and truly making a difference in their businesses and lives.

I can’t imagine that it gives anyone joy to be broke and working too hard for too little money. So over and above that, how do you want your own life enriched and improved by owning and running your own business? What are your money aspirations? What does “profitable” and “financially successful” mean to you?

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Do You Understand the Difference Between a Project-Based vs. Ongoing Admin Support Business?

Do You Understand the Difference Between a Project-Based vs. Ongoing Admin Support Business?

When I started out (and didn’t really understand the concept of providing administrative support as a business), I was what is correctly termed a secretarial service doing one-off projects here and there where I could find them.

Someone would hire me to do their resume, make a flyer or brochure, type some documents, that kind of thing.

It’s equivalent to the business model of a print shop for example.

A customer might be someone who only ever uses you once or it could be someone who is a repeat customer, but still on only an as-needed basis—occasional and sporadic.

The problem as I discovered was it was a paltry income, nothing I could actually live on. It was pocket money at best, and I still needed to work a full time job to pay the bills.

Okay, I thought, how do I make a living at that?

There is no recurring or consistent income when a business is project-based. You never know where your next meal or client will come from or when.

In order to make a living in a project-based business, it inherently requires that it be volume-driven, which comes with its own set of problems.

In a project-based, volume-driven business, you have to CONSTANTLY be marketing and networking and ever on the hunt for your next project, that next not one but five clients, all while you still have work in front of you to do.

It was EXHAUSTING.

It was a huge amount of work just getting those projects and clients I did have coming in here and there. It was this never-ending hamster wheel that left me little time to breathe.

And to have to multiply all those efforts 20-fold? No way. That was NOT the kind of business I wanted.

You also can never make up for in volume what you really need to make a living, not as a solo/boutique business.

The answer would seem to be add more people doing the work.

But that wasn’t a solution that worked for me either because:

  1. I have ZERO interest in being in the people management business, which is exactly what I’d have to do if I added more people;
  2. I would make even less money because my profit margins would be reduced with all the increased costs and expenses. Not only that, but my business would be much more complicated and less easy with all the added administration; and
  3. it would turn the work into an assembly line which is NOT what I want in my business or my life. I believe in artistry and craftsmanship in work product and that’s the quality I want to give to my clients. Churning work day in and day out as fast as possible (which is what you are forced to do in a volume-driven business) is NOT how I want to work or live my life.

It’s not that a volume-driven project business can’t work. But it’s a much bigger and more difficult business to build and sustain. And it’s simply a different business model altogether, one I had not the slightest interest in.

That’s when I started realizing that the way to make better money and more consistent income was to provide support as an ongoing RELATIONSHIP, not a one-off, piecemeal transaction.

Once I got conscious about that, I started building a retainer-based practice where clients paid me in advance on the 1st of every month for ongoing administrative support in their business, not a project here or there. I took on specific areas and roles that were ongoing in their business.

It was a lot more money—money I could actually LIVE on.

It was consistent, recurring CASHFLOW.

AND it didn’t require the constant merry-go-round of chasing after new clients and new work every minute of every hour of every day.

I could live and work in a much more relaxed, sustainable, breathable pace, growing my roster slowly one client at a time.

But I still had a lot of things to learn in my early years. I was still operating with the poor professional self-esteem that many in our industry suffer from: that I wasn’t enough, that admin support wasn’t enough.

Part of the problem was I still didn’t really have a target market.

And without that, I couldn’t really envision, much less paint a picture for prospects, about what admin support could look like in the context of their business and how it could help them in anything except the vaguest, most general (and uncompelling) terms.

So I thought I needed to offer a lot more. I thought I had to DO everything, BE everything, and be ANYTHING a client tried to twist me into at their whim in order to be of value.

First, I added web design.

And then I thought bookkeeping would be a good service to also offer because who doesn’t need bookkeeping?

What I failed to realize is that these are separate businesses in and of themselves.

It’s a full time job to just to provide bookkeeping to a roster of clients.

And design work requires a whole other part of the brain. It requires a switching of gears and lots of creative space that are simply too crowded when you are trying to do too many other things.

Eventually, as I got busier and busier (without really ever getting too far in anything much less making any better money), I realized that I needed to focus on ONE thing, be in ONE business, not multiple businesses.

Trying to be too many different kinds of businesses not only was keeping me from earning well, I wasn’t able to fully commit to any of them and was constantly distracted and pulled in different directions due to too many multiple focuses.

That’s not a recipe for doing your best work for clients.

I also realized that by focusing on ONE business (I got out of the bookkeeping business and then later discontinued doing any kind of design work completely), I did far better, more high quality work for clients, built my business faster, and ended up with far more discretionary time (i.e., freedom and flexibility) as a byproduct.

All of which ultimately benefited my clients in a multitude of ways.

I also realized (and look back now at how foolish I was back then) that if I had just gotten clear about being in ONE business earlier, I would have built my business and made more money so much faster.

Because once I did, I also soon realized that by focusing on the ONE business (admin support), I didn’t have the time or need to do anything else.

So now I’m VERY clear about what I’m in business to do and what I’m not.

If a client needs something I’m not in business to do (e.g., you wouldn’t ask a plumber to fix your car), I point out that they need to talk to the professionals who are in those other professions. If I happen to know someone good, I will refer them.

But I don’t bend over backwards making it my job to find them someone any more than it would be my doctor’s job to find me a lawyer. The only people who think that’s their job are those who are operating their business like an employee (or being trained to).

Don’t Confuse Quantity with Quality

This post came about from a great conversation I was having over on our ACA LinkedIn Discussion Group with a colleague who was struggling with her target market.

I see a lot of people in our industry erroneously thinking that the only clients who can afford them are large companies.

But the size of a business (i.e., the number of people involved) has nothing to do with how much money it makes.

There are hundreds of thousands of solos and boutique business owners earning multiple six and seven figure incomes while there are millions of bigger companies that are barely scraping by.

What people fail to understand is that big companies don’t need us. They have the kind and level of workloads that simply require in-house, dedicated staff.

Even if they are remotely interested in our type of solution, it’s typically only to get it as cheaply as possible. And you can’t afford to be in business to be broke.

So there is a fundamental mismatch of values and priorities and needs.

Being a solopreneur/boutique business owner is a lifestyle choice. It has no bearing on how much those businesses can and do make so don’t make the mistake of focusing on the wrong market.

If you do, you are missing out on finding the RIGHT fit with those who actually VALUE what we do because they have more need for it, value the one-on-one relationship and, thus, are far more ready, willing and able to PAY WELL for it.

The Simpletons Can’t Help You

It’s not difficult whatsoever to get clients when you charge peanuts.

The problem and real difficulty (extremely so) is dealing with the KIND of clients you get when you charge peanuts and being able to achieve a sustainable, profitable business, one that you can actually earn a healthy living from (as in, not just hand-to-mouth).

To be able to charge (and earn) more and get better clients requires more in-depth learning and understanding about marketing and human behavior and psychology.

And you aren’t going to get that from the simpletons and copycats.

Because if it were as easy and simple as they would have you believe (because that’s how they get into your pockets), everyone would already be millionaires (or at least earning well into six figures).

And we all know that’s not the case.

Is It Time to Start Earning More in Your Business?

3dcoverweb

Do you hate tracking and reporting time to clients? Would you be excited to know of an easier, more profitable way to charge that clients also love? If so, you’re not alone.

Tracking hours is a HUGE administrative burden that eats into your profitability and takes time away from life. And clients hate being nickeled and dimed on minutes and hours.

If you’ve been in business any amount of time, you have at least some idea of the problems with selling time instead of your solutions, results and expertise. What you may not realize is just how much billing by the hour is killing your business and keeping you from earning better.

  1. It focuses clients on hours and reporting. When clients think they’re buying hours, that’s what they zero in on to the exclusion of just about everything else that’s more important.
  2. It measures time instead of results. Is that really how you want clients judging the quality of your support, by how long things take instead of how you actually help them?
  3. The faster you work, the LESS you make. When you charge by the hour, you’re penalized financially for being better and faster at what you do. How much sense does that make?
  4. The better you are, the harder you must work to make the same amount of money. That’s because the more you can do in an hour, the more you have to fill up that hour.
  5. And how do you track time for all those intangible, incidental things you do for clients, like thinking, reading and replying to emails and making calls? Are you really going to stop and punch the clock every second you lift a finger? How practical is that? And what happens when you forget?
  6. It puts you and the client’s interests and motivations at odds with each other. When you charge by the hour, clients want things to take the least amount of time possible, and you only make more money the longer things take. Instead of being focused on the goals and objectives the work is in support of, you end up playing a tug-of-war with hours.
  7. Most importantly, billing by the hour is keeping you BROKE! You automatically limit your earning potential when you tie it to how many hours you have to sell.

Your time is the least valuable thing you have to offer clients. It’s your skill, knowledge and expertise that make things happen and help them move forward in their businesses.

And be honest, aren’t you sick and tired of tracking and reporting time to clients like you were some little employee?

You’re in business to help clients, right? Well, how helpful is it to them when you have to stop work right in the middle of things because they’ve run out of hours?

Wouldn’t you rather offer your support in a way that allows you to get things done and serve clients better without discounting your fees or having your hands tied by a ticking clock?

The trick is to price the solution, NOT the hours. You want for both you and the client to be in alignment of interests and motivations. So the question becomes, how do you do that? How do you price the solution, how do you set parameters, when time is not the unit of measurement?

This is EXACTLY what I show you how to do in my value-based pricing guide, How to Price and Package Your Support Based on Value and Expertise—NOT Selling Hours.

Charging by the hour is keeping you from earning AND serving clients better. If you struggle to earn well even though you have clients; if you feel like there’s no room for you to grow based on how you’re charging and doing things now; if potential clients balk when you tell them your hourly rate, I can show you how to change ALL of that in your business!

This self-study course shows you how to create a simpler, easier business to run, where your earning potential is hugely expanded because it’s not tied to how many hours you have to sell.

Clients find it much easier to say YES to working with you, and, best of all, you’ll be able to toss those time sheets out forever!

I’ve been studying value-based pricing for over 10 years now and use this methodology that I’ve uniquely adapted especially for the administrative support business in my own practice.

In this guide, I show you the exact methods I use to earn more in a month with just one of my retained clients than most people in our industry are making with 5 to 10 (or more!) clients. I have far more freedom and flexibility to live life. And clients LOVE this way of working together because it’s easier to pay, easier to work together, and they see results more quickly and clearly because we’re focused on the goals and objectives the work is in support of, not the time it takes.

If you, too, would like more life, more money and more freedom in your business while serving clients BETTER, click here for more product details.

Want Better Clients? Do These Two Things

Want Better Clients? Do These Two ThingsWant better clients? Raise your rates.

The worst clients, the ones who create the majority of the problems, are the loudest whiners and least appreciative, are the ones who pay the lowest rates.

When you raise your fees (or simply charge properly professional fees period, not cheap employee level wages), you will get a whole other (higher) caliber of clientele.

Want better clients? Stop calling yourself a virtual assistant.

Assistant is a term of employment. And people who think you are an assistant are the ones who expect the cheapest rates.

That’s because they do not see you as an independent professional in the expertise of administration. They see you as their little “virtual worker” and expect to pay you like one.

Continuing to call yourself a virtual assistant is like calling yourself a teapot. You have keep explaining that even though you call yourself one, you aren’t one.

How much sense does that make?

Why make your conversations and relationships more difficult than they need in the first place by calling yourself:

a) something that you aren’t (and as a business owner, you aren’t anyone’s assistant), and

b) that sets all the wrong perceptions, connotations and expectations that make it harder for you to get the respect you want and the professional level fees you need?

Here’s what else happens…

When you stop calling yourself an assistant, you also begin to stop thinking like one.

It’s the beginning of a huge mindset shift that occurs and you begin to start thinking more like a business owner, administrative expert and leader in your own business.

That shift in your own self-perception and identity is what also leads you down the path to better clients and higher earning.

Is Money a Dirty Word?

Is Money a Dirty Word?

My sense is this might hit some nerves and be controversial to some, but it’s an interesting topic to me so I’m just going to throw this out there:

People have a lot of ambivalence, guilt and negative associations around money. There are so many hot buttons it touches on including issues of self-worth and confidence, conformity, peer pressure, social class, even religion and spirituality.

We need it, but feel somewhat shameful about that.

We need it, but feel guilty charging well (or even properly).

Some people are ashamed if they have too little.

Others feel guilty if they have too much.

Some think those who have a lot of it are inherently evil or came about it dishonestly.

Then there are those in the world who have so little personal self-esteem and wholeness that they gauge their worth (and the worth of others) based on how much of it they have.

I’m human. I’m not immune to some of these pitfalls. I sometimes feel guilty charging. I sometimes play down instead of helping people rise to the occasion and take responsibility for themselves and their circumstances. That doesn’t help, it only keeps people playing small.

What’s the alternative? We become monks or go live in a yurt and divest ourselves from needing or wanting money or enjoying any material pleasures so no one can say we are bad or evil or selfish?

We see how poverty affects people and communities in the world in all its manifestations:  violence, crime, disease, addiction, unwanted children, suffering, exploitation, limited life options and choices… any number of things.

In this world, we need money to live. We need money to thrive. To have choice. Heck, just to take good care of ourselves, our loved ones and give our kids options and opportunities in life.

With money, we can do more good in the world and help more people because we have more resources, opportunities and abundance available to us.

With more money, we can share more.

With more money, there is more ease and less struggle. This leaves you room for more high-minded thoughts and endeavors that can actually change the lives of others.

It’s difficult (if not impossible) to do those things when you are living a hard-scrabble life just trying to survive and scratch out an existence. There’s nothing left for anyone or anything else.

And you certainly are not helping clients if you are struggling financially because that struggle keeps you distracted, preoccupied, unfocused and (let’s be honest), unhappy in a lot of ways.

Back in the day, I used to be more involved with artistic types of people. You’ve heard the term starving artist, I’m sure. They always had grand ideas, but never the money to execute or sustain. The things they did start would inevitably fail and fizzle in short order because they wanted everything to be free and felt guilty charging. So many of them literally feel they are being sell-outs if they charge or earn a good living from their art, that it’s only art if they suffer and live an impoverished life.

And I’ll tell you what I always told them:

The BEST thing you can do for these people and ideas and the art you love so much is TO CHARGE PROPERLY and make money. You will not be around long enough to have any impact or do any good and keep something going if you don’t bring in the money.

If you want to create something that lasts, that’s going to stick around for a good long while for people to enjoy and benefit from, you’ve got to charge and make money and be profitable. With more money, you can live an even more interesting life, have even more valuable, interesting, mind-expanding experiences and personal growth that you can bring to your art and share with others.

Money is not a dirty word. Money is a tool.

I have so many questions on this topic:

What kind of feelings do you have around money and charging and earning well? Is guilt around money something that’s been a problem for you? What other kinds of feelings and emotions do you have around money?

If you are stuck in poverty-mindset, what kind of clients do you think you are attracting? What do you think holds you back from earning and/or charging better? Do you lack the conversation skills to command the kind of fees you’d like to charge?

What kinds of things do you need money for? How do you see having more money and earning better improving your life, your family’s life and the lives of your clients and others?

How Billing by the Hour Is Killing Your Business (and What You Can Do About It)

Here’s a video I made a few years ago to help people understand how billing by hour (selling hours) is keeping them broke and killing their business.

This can be a difficult concept to understand at first. For many folks, it’s not until they’ve been in business for a bit that they realize the dilemma. It’s usually then that things finally “click” and they get it.

Then, there are people who understand the problem immediately and want to avoid it altogether in their practice.

Whatever camp you’re in, my Value-Based Pricing and Packaging Toolkit will show you how to stop selling hours (and selling yourself short) and learn how to price and package your value and expertise instead.

I’ve been practicing and studying this methodology since the 90s and been teaching it to our industry since 2004. I introduced the concept and adapted the methodology for our industry and I’m really the only person in our industry uniquely qualified to show you how to implement in your practice.