was earning as much as $80,000 per year, but he was losing about $10,000 per year in agenc.commissions, and spending $20,000 per year on marketing. In return for all his hard work, he was earning considerably less than he had at his last job.
- Making the
Impossible Possible -
New consultants, coaches, and other professionals almost always overestimate how much they can earn and underestimate the amount of time and money required to successfully market themselves. They also forget that they will have to cover not only their living costs and business expenses, but pay self-employment tax, buy their own health insurance, provide for their own retirement, and allow for unpaid
vacation and sick time.
If Molly or Fred had taken the time to sit down with a calculator before starting out in business, they would have quickly discovered that they were on the wrong track. But both of these businesses were able to be rescued.
Molly began selling her time by the day instead of by the hour. She offered her clients a full-day package that consisted of a wardrobe review and consultation in the morning and a shopping trip in the afternoon. By charging $395 per day and scheduling three clients per week, she could earn more than double than she did previously.
She also began offering a monthly one-day image workshop as a way of bringing in more income while giving prospective clients a chance to experience her work. The workshop became her main source of new clients, and marketing the workshop turned out to be easier than marketing her personal services.
Fred learned how to market himself less expensively through networking, speaking, and writing articles. Instead of buying booths at trade shows, he was showcased there as a presenter, and spent time networking with the other attendees. The same publications where he used to run ads now ran his articles. Rather than paying a telemarketer, he started picking up the lunch tab for people he thought could refer him some business.
As a result, his expenses for marketing an.commissions dropped from $30,000 per year to $10,000. At the same time, his income rose to $100,000 per year, because as his visibility and reputation grew, his services were more in demand and he coul.command higher rates.
If earning a decent living as a self-employed professional sometimes seems impossible to you, start asking how it could be possible. What can you change about how you are marketing yourself, how much you are charging, and how you are packaging your services? While it could be that success wil.come if you just work a little harder, it's more likely that you first need to start working a little differently.
About The Author
C.J. Hayden is the author of Get Clients NOW! Thousands of business owners and salespeople have used her simple sales and marketing system to double or triple their income. Get a free copy of "Five Secrets to Finding All the Clients You'll Ever Need" at
getclientsnow.com.
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