Alright, let’s talk a little bit about trading hours for dollars.
When did trading hours for dollars all of a sudden become so taboo? It’s like people think that working one on one with your customers is a bad thing. “Oh my God! I’m doing too many hours for dollars!”
Can you imagine if every single hairdresser on the planet decided to move to a leverage model and the only way that you could get your hair done is if you took their online program and learned how to cut your own hair?
You’ll never, ever, ever eliminate hours for dollars.
Hours for dollars is what makes the service industry go around and although I think it’s great that you aspire to leverage your time, you don’t want to be stuck in that belief that hours for dollars work, working one on one with another human being, is a bad thing.
So Why Do You Need to Consider Hours for Dollars as Part of Your Strategy
I have a significant chunk of my business that is dedicated to trading hours for dollars. I work with a maximum number of private coaching clients at any given time and I work with them one-on-one. I also work with a maximum number of group coaching clients at any given time. It very much depends on which of my coaching programs is right for the client, but either way it’s still one-on-one, trading hours for dollars type of work. And, in addition to those, I also work with some of my consulting clients.
In all of those scenarios, I get something more than just trading hours for dollars back – I learn a lot from working one-on-one with my clients. I’ve put some of that learning into my first book, Pilot To Profit: Navigating Modern Entrepreneurship to Build Your Business Using Online Marketing, Social Media, Content Marketing and Sales. Of course, you might apply what you learn from trading hours for dollars by writing your own book or creating a programs like the Online Marketing Quick Start Bundle or the Pilot To Profit Program – but you need to learn from that one-on-one experience with your clients to potentially grow that learning into something more!
There are 3 things that stand-out for me the most when trading hours for dollars…
#1: You Get to Perfect Your Methodology In-Person
You can’t just all of a sudden roll out the carpet and roll out a program and think that you’re all that when you haven’t taken your methodology and applied it and used it and worked with other people and have actually seen the outcomes that they get from the work that you do.
Part of building your business is working side by side with people and ensuring that what it is you’re teaching – I don’t care if you’re a health coach, a life coach, a speaking coach, a writing coach, a book coach you name it, a business coach, you need to actually do the work with your clients in order to perfect what it is that you do.
#2: You Can Identify the Best System for You and Your ClientsWhen you identify your system, it becomes the framework of your great work. Click To Tweet
Whenever I work privately with people we always start at the same spot: business strategy. Within that business strategy, we figure out who the people are that they want to do business with. We also strategize around the following topics:
▪ What are the objectives that they have for their business?
▪ What is the overarching strategy for the business?
▪ What are the tactics that they need?
▪ What information and technology do they need in order to be successful?
So, you need to be able to figure out what your system is before you can actually roll it out in a leveraged model.
#3: You Can Easily Identify Your Client’s Needs
One of the things that I have found in working with hundreds of people one on one is that I get asked a lot of the same questions over and over again and I see people getting stuck in the same places over and over again.
Through experiencing client challenges, and understanding their individual needs, it allows me the time and space to know exactly what I need to incorporate into my system to help people. Once these trouble areas are identified, I can be sure that my group programs, coaching programs and other offers reflect the solutions to these challenges.
What Do You Think?
Do you currently trade hours for dollars in your business? How do you find that has helped you achieve some of your business goals? Leave me a comment below! And, if you’d like to read more about what I’ve learned as an entrepreneur, get your copy of Pilot To Profit: Navigating Modern Entrepreneurship to Build Your Business Using Online Marketing, Social Media, Content Marketing and Sales.
Founder and CEO of the Lisa Larter Group, master strategist, author, speaker, podcast host, social media expert, consultant, and business coach. Lisa inspires entrepreneurs and business owners to see the possibilities for their organizations when it comes to strategy. She uncomplicates modern marketing and creates (and implements) strategies for businesses that are guaranteed to increase visibility, inbound leads, and revenue.