13 Aug Adding 20% to your business
Imagine reverse engineering your business success.
Imagine knowing exactly how many hours to book on your calendar for your business to achieve the goals you desire…
Even better, imagine how many hours you want to reasonably work in your business this next month. Let’s call that your ‘capacity’ – whether it’s you or if you have a team, your entire team’s availability.
Now, how many clients or contracts could you or your team handle during those hours?
And, how much revenue would you generate from those hours and contracts this next month?
(Hours available) x (Average contract value) = Revenue
Here’s the kicker – final question… are you happy with that number?
So many business owners fall into what I call the capacity trap.
It’s this belief that “I have to work X-amount of hours at this set contract price – and that’s the limit for me.”
If that sounds familiar, you may have the same lightbulb moment I see happen for business owners. You realize, “I can’t reach my financial goals if I stay with my current pricing structure.”
You might think *Ouch*.
But I think *Aha!* and *Hooray!* There’s an opportunity here!
Are you underestimating what’s possible because you have a strong belief about what you’re worth or what you can charge? What if that belief is wrong?
How much do you believe your expertise is worth? You’re likely at least 20% underestimating your value. I propose you raise your rates by 20% when the next contract opportunity comes your way. If 20% isn’t the right number, try 10% or 30%. Just try something!
This is the work of commanding money and profits into your business.
If there’s no (bad) reaction, that’s your permission slip to raise your contract rates 20% across the board for the near future. If there’s some pushback, try it again with the next new contract.
What could an additional 20% in revenue do for your business’ momentum? What could it do for your financial well-being? What doors could an extra 20% in revenue do for your business goals?
These numbers are yours to figure out. If you join my Money Blueprint℠ Program for Business Owners, we’ll work on them together.
Start with understanding what it will take to reach your financial goals and reverse-engineer your pricing to align with those goals. You’re the Profit Boss®. You set the pricing – and you also control your financial future.
To your prosperity,
P.S. – Building a profitable, scalable business is part of what we cover in our Money Blueprint℠ program. See what’s possible here.