MYTHBUSTER – Charging Higher Fees = More Work?
Chris and I are both extremely transparent.
We've made almost EVERY mistake in the book. In fact, last week I was being interviewed and the host said something to the effect of:
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“How did you guys come up in this industry so fast? It seems like usually you make mistakes and figure it out over time but you guys seem to have come from nowhere just done everything the right way. How did you do that?”
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My honest answer?
It was funny to me…
I told him (politely) that it wasn't true, we've made more mistakes than almost anybody I can think of.
We just made them QUICKLY, and privately…
And we still do… once we figure out what works, we scale it and take it to market.
Today's email is about one of those lessons we learned the hard way.
My VERY first client, long time ago, was a guy named Gary.
I wrote several sales letters for him, put together this intricate labyrinth of landing pages (now called a “funnel”), and created 4 different video sales letter scripts.
TONS of work.
And I charged him 400 bucks.
Based on the hours I put in for him, my hourly rate came out to just over 6 bucks an hour :/
It's crazy looking back at that… but he was my first client. From there I slowly climbed the ranks as a freelancer and started to develop some untrue beliefs about charging what you're worth…
Particularly: I started to believe that more money = more work.
This is a very normal and dangerous assumption.
It will keep you from growing correctly and also prevent you from producing the kinds of results you're capable of for your clients.
The truth is, there will always be a higher premium on results than there is on time.
You'll never become wealthy by charging hourly.
And so you cannot charge based on time or even the amount of work involved. You must always charge on results.
…Or more specifically, charge against the value of the result you're able to deliver.
Almost 100% of our clients, we end up actually scaling BACK the amount of “stuff” in their offers, and the amount of time/work required, and this actually enables them to charge MORE.
Because people don't want more “stuff.”
Your clients DO NOT want more stuff…
They want clarity, and simplicity. And they want results…
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So here's why this matters to you in particular.
I was talking to Chris about this yesterday and we've recently crossed over a major milestone in our business.
We've made some major changes in our business over the last 8-10 months and recently crossed over the 1M mark collected for the year.
I'm saying this to “qualify” the opportunity I'm about to drop in front of you.
Last year ('15) we worked harder, longer hours, and barely did one tenth of that in revenue.
The shifts and the changes we've made have created a freakishly consistent and DEPENDABLE style of business that you can actually enjoy without working yourself into the ground…
And not just for us, our clients have experienced the same shifts.
In fact, we have probably the longest running list of success stories in our industry (check them out here).
So here's the deal…
If any of the following sounds like you, I'd like to invite you to a special opportunity:
- You have to essentially “start your business over” each month and find your income very unreliable, up and down and up and down
- Facilitating and fulfilling the client work you sign is exhausting, and a part of you doesn't even want to grow your income because you don't want to simply “work more hours” (yet, you'd still like to earn more money – if there was a way to do it without working more)
- You'd love dependability (of income and your client acquisition), but don't know what to do to create the “steady flow” that people always talk about
- You'd like to launch a new arm of your business and want to create a funnel that pulls in ice-cold traffic and reliably turns that traffic into high-value clientele
Sound like you?
Here's what I'm proposing:
We're opening up the calendar this week (and next) for a few strategy sessions, where we will get on the phone and help you dial down into exactly what we did to change our business, create consistency, and how you can borrow and install our method into your business.
Every time we do this, a few of the strategy sessions don't want to do it all themselves, and they ask for more ‘hands on' help – and those people become clients.
There's no pitch for this and no pressure to do anything like this…
I'm just letting you know why we are doing these.
If you see an opportunity for your business here, go apply to get on our calendar here…
* Last thing: don't wait or take time “making up your mind” on this.
The opportunity is limited and only the swiftest to react will be accepted for these strategy sessions.
What I'd do, if I were you, is read this entire post again, see if it makes sense for you, and then go apply here if you see yourself benefiting from this opportunity.