If you’re currently being paid by the hour for what you do, this will be extremely useful to you.
We can discern that most business owners who are paid by the hour will eventually hit some sort of cap.
It might be they feel they are constricted by competitors – if competitors are charging low hourly rates it’s hard to see how you can put yours up without losing business. In addition hourly rates are getting squeezed in the current climate – in particular when your services are seen as a commodity.
Secondly it may be a time restriction – as charging by the hour means you can’t physically work too many hours – typically somewhere from 20 to 40 hours per week of client time is normal depending on the particular sector.
Finally, the cap may well be location specific – for example I have a client Di who was commuting 3 hours per day into London on top of her working day as she can only currently deliver her training face to face. This time was of course unpaid, and you can imagine that this travel was adding hugely to the stress of her day.
So what can we do about this?
The answer comes in the form of taking what you typically do for clients, structuring it into teachings that can be delivered online from the comfort of your own home, and then using simple online methods to attract in clients for the teachings. Let me set this out in a step by step fashion for you (if you get stuck on any of these steps don’t worry, you can get more help shortly):
1. Identify what outcome your clients typically desire from you. It’s okay to have several – for example some of my outcomes are teaching people to take their offline business and put it online, showing people how to use Facebook Ads to attract in clients, teaching people how to bring in qualified leads that are ready to buy in a simple “salescall” helping people make the leap from hourly selling to selling online programs etc etc. Now consider, what are the outcomes that YOU typically deliver?
2. Brainstorm the steps that are needed to ensure your client gets their end result, and plan it out into a structure, which I will refer to as an online program. Typically most of my clients choose to plan out an 8 week structure, but 6 weeks and 12 weeks typically work well too.
3. Create a couple of pieces of education based marketing to bring in prospects – such as webinars, blogs, short videos, checklists etc. I choose to record my webinars and turn them into an automated webinar so that they can be viewed 24/7 around the world, and this is the method I teach my clients too as it removes the worries about technology and is stress-free!
4. You’ll now need to advertise your marketing pieces, typically via Facebook Ads, Twitter Ads or LinkedIn Ads, depending on where your target market hangs out. Facebook Ads is currently the easiest and cheapest to use – although the skills transfer directly from one platform to another.
5. At the end of the marketing piece, you’ll want to ask prospects to book in for a call to discuss how you can help. There’s no need for a hard sell, as your marketing has already shown them you can assist – it’s therefore just a case of seeing if you’re right to work together.
6. You’ll now start bringing people into your online program, which is of course based on the steps you identified earlier. To deliver the program, you’ll simply record a video – I suggest a tool such as Camtasia to record yourself talking over a PowerPoint presentation, and ensure your client is successful by setting some type of homework that ensures that if completed, they will get to their desired outcome.
7. To give your clients support, you’ll then offer coaching calls each week alongside the videos to ensure they are staying on track. These can be either individual calls or group calls, depending how fast your marketing brings in new clients and whether your line of work lends itself to groupwork.
So in essence, this has shown you how to take what you do currently, by the hour – and then turn it into something that can be sold online.
Following this method, you can immediately move from charging by the hour to instead charging for the outcome.
When pricing your program, most of my clients start somewhere from $2k to $4k before moving to $6k and even $10k – although I’ve had clients go in straight at $8k and sell 5 in a few weeks.
To explain in a little more detail how this works in practice, here’s a casestudy from one of our clients:
My client Leo was selling his services at €70 per hour before he started working with me. He restructured what he offered into an 8 week group program that he sold for €2,000 for 8 weeks, before Christmas. He was converting nearly every single person he spoke to on the phone into this program, so after selling 6 of these, I encouraged him to put his prices up further. He then sold a further 3 at €3,000 – this time converting every single person he spoke to, so this month has moved to charging €4,000.
So, how can YOU apply this?
How will you take what you do and turn it into something that can be sold online?
If you’d like help taking what you do currently on an hourly basis, and restructuring into something that can be sold online – then we are here to help.
And yes, if you want my personal help getting this working in your business – we can talk about that too.
Either way you’ll know whether this will work for your business.
So let’s get on the phone and specifically plan out:
• Can what you do be sold online?
• If so, what’s the best price to charge for it?
• How many leads will you need to hit your income goals?
• Where are the best places to start marketing?
• What might stop you from getting this done?
Please click here and book your session in here now, we have a few sessions available this week
Have a great day, I cannot wait to see how we can assist!