When I was 15, I sold my time for $5 an hour.
When I was 25, I sold my time for $50 an hour.
When I was 30, I stopped selling my time.
I've always been uncomfortable with hourly rates or even "full-time" jobs with a salary, because I couldn't get over the fact that I was trading time for cash.
Time (also known as life) is the most precious resource we each own. We get 24 hours per day (86,400 seconds) and we spend a third of that with our eyes closed.
Think about that. Why do you base your inflow of wealth on the most precious, priceless, irreplaceable resource you own?
Sure, you can raise your hourly rate from $50 to $500 an hour (I did that). But what next?
Once you've raised your hourly rate, what do you do next to grow your income? You must simply work more.
Selling time limits your business to linear growth. If you invest 1 more hour meeting with 1 more client, you can grow your revenue by the price of 1 appointment. It's the same with a job.
Selling products opens your business to exponential growth. If you invest 1 more hour in selling 1 product, you can grow your revenue by the price of 1 product or 10 products or thousands.
Work smarter (not harder) by disconnecting your income ceiling from your finite time.
Repeat after me: "I do not have an hourly rate."
Instead, sell products. You can start selling products right now (today) even if you don't have a thingamajig other than your expertise to sell.
A product, defined simply, is a promise for a price.
If you already work with clients, your first step is likely to create an offering that represents a start-to-finish package.
Notice, you don't quite remove time from the equation (you still have to work), you simply change the equation so it works in your favor.
If you already work with clients 1-on-1, the next step is to add an option to work with you in a small group setting.
This shift from 1-to-1 to 1-to-few is a key preparation for the shift to 1-to-many because it means you must develop a clear and compelling offer that meets the need of more than one customer at a time.
This is what I've done, shifting from $500/hour to $5K/month as a Growth Marketing Strategist, and then moving my focus to my Thrive School Accelerator.
- The Promise: Create a personalized playbook for building your own Seven Figure School while immediately selling a Flagship Product designed to generate $100K from your expertise without paid ads or social media posts.
- The Price: $10K (I also have payment plan or revenue share options available, if you're a good candidate to join my accelerator)
I've already planned my 1-to-many products (beyond my book), but I know that 1-to-1 has to become 1-to-few before 1-to-many will succeed.
You don't have to jump straight to the infinite influence of a digital product, you can start with what you're already offering.
How can you take your time off the menu, and sell products to your clients by charging for a promise with a price?