“I’ve been doing this business the same way for 20 years … and with just this one change, it’s starting to take off!”
Not my words, but those of a friend and client, Steve.
Steve is one of the nicest guys you could meet. He’s always upbeat, always positive, very smart.
And always overworked.
He’s been over-busy for 20 years.
He’s been making a fine living. His family are loved, and financially, he provides everything they need.
For those 20 years he’s been at maximum capacity.
Good money … but it’s a hell of a hamster wheel.
He’s done many of the “smart advice” ideas already: he’s a specialist in a well defined niche; he’s well known in that niche; he’s got a good service and he keeps in touch with his clients regularly; he’s got regular, retained work from those clients.
All good, solid, sensible structure.
But still too busy. Always, always busy.
How was Steve to overcome this impasse?
Have a think for a moment … what would YOU do?
Raise your prices?
(You’ve probably heard – “if you’re maxed out, increase your prices, and you’ll just lose the unprofitable ones and be better off”. Steve had good reason to be wary of that approach.)
Get more staff?
(Yes, this WAS part of Steve’s personal barrier … but his problem was his work relied on his specific expertise – what’s in his own head – and he couldn’t find a viable way of paying additional salaries while training them to do what he does … his cashflow didn’t allow it).
One change made the difference for Steve: he repackaged his offer.
The reason he was at max capacity was because he was charging for his services based on how long it took him to do the work.
This, of course, is common, and is the usual way of charging.
And it’s the cause of the hamster wheel (or The Busyness Delusion, as I call it).
By understanding his niche even better, he created a new position, and a newly packaged offer.
Some existing clients switched to the new offer.
He’s added five new clients (more than he had in the previous three years combined).
His income has increased by 30% in 12 months … and he’s working less to deliver the new package.
Now he’s got better cashflow he can invest in more support … and because the offer is a packaged solution, it’s quicker and easier for those support people to pick up the skills quickly.
One change, one switch of thinking, one decisive action, and a 20 year old steady-state busy business is now set to double, to give financial security AND the start of freedom.
It’s exciting when this happens.
You can probably do this too … it’ll be easier with the right help and guidance, but it’s worth looking at it on your own to start with.
If your business is keeping you busy … a busyness that you’d rather do without … take a look at your offer.
You may be surprised at what’s possible.
Here’s to your 3Fs!
If you want to learn more about how you can package your offer, to work less and earn more … click here.