Did you know that it’s possible to work less and earn more? Successful entrepreneurs do it and there’s no reason why you can’t do it too, with more planning and focus. It’s important to be more thoughtful with your time, and to be more productive and less busy (and to know the difference). It’s easy to fill our days ‘doing things’ and ‘being busy’, but it takes great skill and discipline to identify what tasks we need to do to drive our business forward, allowing us to earn more. After all, it’s important to work ‘on’ our business, not ‘in’ our business.
Follow our top tips to help you work less and earn more.
Identify what tasks are important in driving your business forward, and what tasks have secondary importance. Answering emails and doing paperwork has secondary importance. Working on sales and marketing should take priority. Technology invariably makes our lives easier, but it’s also fills it with more noise and information than we’re able to digest. If you don’t prioritise your days properly, social media and other distractions can actually stop you from getting anything done. You need to run your business, your business shouldn’t run you. Set time aside for particular tasks, prioritising the important jobs, and getting tasks completed before moving on. It may be helpful to set aside whole days for tasks such as marketing and social media, so that you are not dipping in and out.
Outsource the tasks you’re not good at or don’t have the time for. Look on sites such as Elance or Odesk for freelancers to help you with anything from admin and accountancy to social media and graphic design. This will free up your time to focus on building the business and making money.
Work the hours that suit you best. The best part about working for yourself is that you don’t need to keep a 9-5. Give yourself time off to do the things you enjoy in life and fit your work schedule around your life. If you work better later in the day you may want to take the mornings for yourself.
Value your time and effort and make sure you charge your clients accordingly. Many women find it difficult to charge what they’re worth and lower their rates as they think it will attract more customers. It doesn’t. Think about the last time you bought a new product or service; you more than likely based your decision on the reviews and product features rather than the price alone. People are happy to pay more for the best service or a better quality product. In some cases it’s better to opt out of the hourly rate and charge on a per-project basis. You should also consider a monthly retainer fee, recurring payment model, or any other billable rate that best suites your situation.
Figure out what requires less of your time and effort but has the greatest return. For example, if you have a client that pays well but that requires you to do very little, you may want to focus more effort into this client to see a greater return. Is one of your products selling more than the others? If so, invest more of your time in marketing that particular product. If something doesn’t give you much of a return then don’t waste your time doing it.
What are you currently offering for free that can you can start charging money for? Do you offer consultations or DVD’s or guides or any other bonuses that you offer as freebies to your clients? These are all things that you can easily charge for and should be placing monetary value on.
Sign up to work with a relevant partner or affiliate who are able to share their mailing list with you, and who are willing to promote you their audience (which should be the same audience as yours). What can you do for them in return?