Captain’s log, stardate 20220601
Fellow list member and resident of Ditcherville, Alexander Lapa shared this “before and after” success story in the #wins channel of my coaching community (shared with permission, bold mine):
My freelance consulting business has come a long way in the last 12 months, and wanted to share my high-level “win journey”.
- Was billing by the hour
- 95% of my income was through an agency, and they dictated my hourly rate
- Working 40+ hour/week, I hit an income ceiling and didn’t know how to breach it
- Only 5% of my income is through this agency (I really like working with the remaining clients)
- I specialized in my favorite industry
- Hosted my 1st paid webinar, and then created my 1st downloadable product from the recording
- Started a podcast, and have currently published 13 episodes with over 400 downloads
- My podcast has recently attracted a recruiting agency that wants me to speak to their recruiters
- I am about to release my first subscription product
- 90% of my time is billed as a type of monthly productized service or VBP
- My most profitable project was a monthly advisory retainer for 4 months. Since I didn’t track my hours, it’s hard to know for sure, but I estimate my effectively rate around $5,000/hour
- Overall, my income more than doubled while working less than 40 hour/week (I think :smile:)
- My pipeline is full for the next 3-4 months and I have started to refuse work
- I’m appreciated by my clients and am happier than ever
All this to say, thank you, @jonathanstark! Looking forward to seeing this potential grow even further.
Hooray!!! I love stories like this!
Have you got one, too? If you’ve had success ditching hourly billing, please hit reply and let me know :)