Step 5 : Multiplying Your Earnings Potential

Step 5 : Multiplying Your Earnings Potential

  1. Consider the level of personalization required from your services and determine how many people could realistically benefit from a joint session.
  2. That number may be five, ten, fifty, or maybe even unlimited — but you’ll want to ensure you’re being thoughtful about providing the customers a positive experience and outcome.

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How I Make $20,000 in Just 4 Hours (With a Repeatable 6-Step Method)

bettermarketing.pub

MORE IDEAS FROM THE ARTICLE

Step 3 : Removing the Limiting Factor
  1. Now ABANDON the idea of 1-on-1 clients.
  2. Why? They’re the limiting factor in the equation of time and money.
  3. There’s no amount of money great enough to increase the number of hours you have in a week or a month, so taking on 1-on-1 clients is doing yourself a financial disservice and accepting the very costly sacrifice of capping your income potential.

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What is Possible? Introduction to the 6-Steps Approach
  1. It’s possible to make $20,000 in just four hours — per month.
  2. You don’t have to be a rocket scientist, have advanced degrees, or spend years risking your life savings building a startup with a 90%+ chance of failure.
  3. My four-hour work month is made possible by one simple, attainable decision that you, too, have the power to make.
  4. It’s the one-to-many approach that allows me to remove the cap on my earnings, charge a premium, and still limit my required time investment to one hour per week.

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Step 4 : Crafting the Package
  1. Decide how many hours a client or customer needs to get a significant, worthwhile benefit from your services. Is it two, three, five, ten?
  2. Is there a natural progression to the service you would provide or a methodical way to break down its various aspects to offer clients a robust transformation, spread over that number of sessions?
  3. Craft a multi-session package around it — but remember, we won’t be entertaining 1-on-1 clients here.

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Step 2 : Assigning a Dollar Value to Your Time
  1. Decide on an hourly rate you feel comfortable with — this could be $100/hour, $250/hour, $500/hour, etc.
  2. When you decide on this hourly rate, think about how much value you’re offering a person who gets a full, undivided 1-on-1 hour of your time and attention.
  3. Think hard, and don’t undervalue yourself.

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Repeatable & Reusable Contents
  1. Once you’ve done the pre-work, you’ll have a repeatable model and reusable content that can be monetized in a myriad of ways.
  2. This six-step strategy will grant you unlimited upside earning potential and the ability to help more people than you ever expected, including those who couldn’t necessarily afford your full 1-on-1 client pricing.
  3. This strategy can work across multiple industries.

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4 - Turning $720 into $20,000

But how the heck will you turn four hours and a $720 price tag into $20,000 in revenue? It’s actually easier than you might think.

  • $20000 / $720 = 27.78 (let’s round up to 28)

All you need is 28 people to sign up for your exclusive, discounted, robust, four-session package — which you’ll deliver via one-hour/week live calls over four weeks — and you’ll have made $20,000. It really is that simple.

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3 - Now, Add In the Exclusivity Upsell :  e.g. 20% Up
  1. The exclusivity upsell accounts for the fact that this multi-session package offer is special.
  2. Perhaps it encompasses a more robust curriculum or wider set of services than months of 1-on-1 sessions would typically address. Or perhaps it includes some special bonus that is typically reserved for premium clients.
  3. Perhaps it’s a one-time opportunity that you may never offer up again — at least not for this reasonable price.
  4. Assuming a 20% exclusivity upsell on the above $600 discounted package price, we can arrive at our final price:
  • $600 x (1.2) = $720

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The Formula for $20,000 Offer Pricing (Intro to Sample Formula)
  1. The formula below uses sample pricing and ballpark discounts and upsells to illustrate how this type of offer can easily generate $20,000 in just a few hours of your time.
  2. You can easily modify the formula below by plugging in your chosen hourly rate, the number of hours included in your multi-session package, your session-sharing discount (entirely up to you), and your exclusivity upsell if you have one.

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Step 6 : Reconstructing Your Package Pricing
  1. Discounts: Proper pricing should take into account a session-sharing discount to ensure customers feel that they’re getting a bargain.
  2. Sweeteners: It should also cover the increased value of any “sweeteners” or bonuses that set this multi-package offer apart from a typical 1-on-1 session.
  3. Exclusivity: If this is a one-time or exclusive, limited package — perhaps something you only offer once or twice a year, or something you limit to a certain number of students — you can increase that price.

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2 - Apply Session-sharing discount, e.g. 40% Off
  1. Now that you’ve determined the upper limit of your individual customer pricing for the multi-package session, you can apply a session-sharing discount.
  2. Assuming the above $1,000 maximum multi-session package price and a 40% session-sharing discount:
  • $1000 x (1 — 0.4) = $600
  • The above example employs a 40% session-sharing discount.
  • But there’s no right answer to the ideal or appropriate discount here; it’s completely up to you.

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1 - Maximum Price, Not Including Exclusivity Upsell :

Multiply your hourly rate by the number of hours you plan to offer in a multi-package session. Assuming an hourly rate of $250 and a four-hour package:

  • Hourly rate ($250) x 4 hours = $1,000

This should give you the upper limit of the price range (for a single customer) since this formula assumes no multi-session or session-sharing discount.

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Step 1 : Identifying Your Value-Add

Think about what service you have - to offer the world — this could be based on your personal or professional experience, and it can truly be anything.

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Rachel Greenberg

The sooner you remove limiting factors and disconnect your time from your earnings potential, the sooner you’ll be able to reap outsized rewards and get paid for the value of your contribution, rather than the hours you clock.

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Deepstash helps you become inspired, wiser and productive, through bite-sized ideas from the best articles, books and videos out there.

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Use This 4-Step Formula To Learn Anything In Under 24 Hours

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Productivity: The 24 Hours Of The Day
  • We all have the same number of hours given to us for a day. It’s up to us how we use those hours.
  • Productivity means simplifying our work, getting it done in a faster, smarter and efficient way, with the idea of the saved time being used for doing things that we love.
  • The concept of managing one’s time, which can’t be stored, borrowed or saved for later use, is the core skill one needs to learn to be productive.

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Parkinson's Law: 4-Step Guide To Shrink Your Work And Get Things Done

dansilvestre.com

A system is...
  • Something you do on a regular basis that increases your odds of success regardless of the immediate outcome.
  • A collection of goals, tools, habits, and methods is not the same as a purposeful system.
  • A working system allows you to reduce your tasks to a manageable set of inputs and outputs, and establish some predictability.  

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Want to do 160 Productive Hours a Month? You Need Systems, Not Goals

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