#033: Trading Hours For Dollars
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As a general concept, I agree that you shouldn’t trade hours for dollars. Unless of course the dollars you’re charging mean you’re making the income you would like. But, if you’re having to hustle to fill your client slots and you’re charging a low hourly fee, that’s absolutely a burnout model. I know, because I’ve been there.
In this episode, I share that less than 10% of women make 6 figures in their business and don’t make enough money for the lifestyle they would like. The reality is that 6 figure turnover is equivalent to a salary of 50k or 60k, so we need to make money.
It’s important to understand that there is no more time, money and effort involved in having big financial goals than tiny ones. If you have modest goals in your business, there is no problem with that at all. The problem is when women play small because some kind of fear of failure is holding them back from having the goals they really want.
But when you realise it is no more work to have bigger goals, everything can really change for you. Only 2% of women hit 7 figures in their business. It may not be a goal for you. I have a lot of clients who are on their way to creating a 7 business, but most will have 6 or multiple 6 figures dreams. You can totally do that, but you have to have the vision first.
To get to either of those goals means moving past trading dollars for hours to the 1: Many Method. With this way of scaling your business, you are serving more people, making more money in fewer hours and moving you past the time for money trap.
Can you relate to this? Are spending all your time, energy and money pursuing 1:1 clients, perhaps charging a small session fee or a small bundle of sessions when you could be creating higher-priced sessions or a higher-priced program? It is no more effort to enrol clients in a group program than it is to find 1:1 clients.
I like to teach an ongoing enrolment process, which takes away the stress of enrolling a lot of people at any one time. If you’re enrolling 2/3 people a month into your signature program, it’s not that hard to have 10k months. This way you get clients who pay in full or pay by instalments. It’s great to have full payments, but also great for cash flow to have monthly payments coming in as well.
I have a vision of helping 1000 women to have 6 and multiple 6 figures in their business by 2025. For me, it’s not just about the money, it’s about the impact I am making. And the impact my clients and team are making.
This method helps us to work with much more ease and to help more people. But it’s so important to show up. Your business can’t outperform your ability to lead it. Business is a roller coaster and I help my clients to even out those ups and downs, but they have to be there to help us to grow along the way.
Personal growth will still be needed along the way. It may feel hard, but that’s ok because you come out so much stronger at the end of it, and hopefully a lot more money too!
If you would like to have a look at your business model, you can book a session with one of my Success Mentors to get their help to plan out your business. They are experts in creating Signature Programs and would love to help you. They will look at where you are now, where you want to go, and see if you are dreaming big enough in your business. We will help you to step into your vision and be part of that 10% with a 6 and multiple 6 figure business and create that vision you really desire.
Book your Consult Call with a Success Mentor here while they are available: