Increasing Revenue: Raise Your Rates or Your Clients?

This is a pervasive small business issue. I was talking with a friend today who has the potential to change the world, but he was charging small-time pricing. As I thought through the issue, I realized that like many people I have met, he had a block to seeing the potential for larger fees. I think there are several potential issues going on here and for others: One's network is made up of small thinkers and cheap people. One's clients are used to paying smaller fees. One's self-perception is not great enough to allow for big pricing. The value offered is not worth more than the small pricing. Here's one of my answers to him (I thought it was brilliant): It is easier for us to change our pricing to match our networks than change our networks to match our pricing. But if we want true abundance, we need to change our networks/clients to match our BIG vision. Here's a response to each of the points above: This limits our thinking because we calibrate based on the people we are around. Back to the adage "You will rise to the level of the five people closest to you". Change your clients. Go up-market. Start working with people who will create a bigger impact. If you want to maximize your impact during your lifetime, you need to work with people who have major impact, or who will soon. Working with people who are concerned only with themselves or maybe a few others will not juice most people enough to keep going strong. Focus on maximum impact. I have a great friend, Paige Armstrong, who is a psychotherapist and coach (psycho-coach :-)). She has helped me and [...]

Self-Employed and Tired of No Sleep? Time for a Thinking Upgrade (Welcome to The Leverage Continuum™)

Being self-employed is a tough life. You're responsible for everything: Making product or providing services (if you have clients/customers) Selling Marketing Billing Accounting Figuring out what to do next out of your 1,001 item list Some day you hope you can get to working ON your business rather than IN it There's tons more. I've been on a journey this year of taking the first steps out of self-employment. And I don't mean getting a job. This year, I've dug in more than in the past to turning my services into products (productizing services) and really thinking through what I can do with them. I have laid out a plan, and I will be writing about this journey of self-discovery and transformation here. A journey that has led me to develop the concept of The Leverage Continuum™. My expectation: Within one year I will have lots more freedom and about 7X more income. Why only 7X? Because I'm building a platform, and infrastructure on which to build the rest of my "real" business. And building the foundation often takes longer than building the rest. The Leverage Continuum™ The transformation process is The Leverage Continuum™. Here is the first stage, which I'll talk about in more depth in additional posts: There are psychological shifts required for each step, and until someone is ready for the next change in their thinking, it won't happen. It can't happen. We all have hang-ups of some sort. I didn't think I did, but I have recently uncovered some things that were holding me back: My personal limiting beliefs. This model is still being developed, and subject to change, but the thinking is starting to come together. Overall, there are numerous shifts that [...]

By | 2015-08-04T09:19:47+00:00 October 4th, 2014|The Leverage Continuum™|0 Comments