May 23, 2023
Dr. J.J. Peterson - Building A Business Beyond Hourly Billing
Dr. J.J. Peterson, head of StoryBrand, joined me on Ditching Hourly to explain why he says, “You can’t build a business on hourly billing.” J.J. emphasizes the importance of value pricing and project-based billing for delivering results and customer satisfaction. He offers advice on storytelling and differentiation, finding your target audience, and building an email list for lead nurturing.
Talking Points
- Building value-add strategies is crucial to satisfying your customers
- Professional pricing is focused on value for each project, not solely billable hours
- Value pricing involves reverse engineering and scoping based on different budgets
- Productized services can help predict income and make services profitable over time
- Storytelling is a powerful tool for making sense of information and engaging customers
- Mailing lists and podcasts can increase awareness and trust
- Find platforms where your target audience hangs out and offer value before selling
Quotable Quotes
- 07:16 “Showing clients what kind of return they’re going to get is a huge way to position yourself as value in the field.”
- 22:00 “Story takes a bunch of information that’s out there and puts it all in a form that makes sense to somebody.”
- 29:00 “It’s not about you, it’s about what your skills and experience do to solve their problem.”
- 35:28 “Clarify your message first. Figure out what your messaging is gonna be before you do spend money on anything, creating anything else.”
- 37:33 “You wanna be on those stages. Then the second part about that is once you figure out where you wanna be, you wanna go into those places, and you wanna add a ton of value, don’t wanna actually go in and sell.”
- 39:25 “Building your audience with free stuff and then charge quote unquote for the next level, which is to get your email address.”
- 47:07 “What you bring to businesses and the problems that you solve and the value that you bring is huge. So don’t sell yourself short.”
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Yours,
—J