Do you always feel like there is too much work, not enough time?
Are you constantly tired of second-guessing yourself, never feeling like you can get ahead, or never feeling like you are good enough?
As an entrepreneur, especially when you are just starting your business or providing a new service, it can be tempting to base what you charge on an hourly or daily rate. It is not your fault, as numerous articles advise how to structure your rates or prices based on your annual business overheads, profit margins, and how to determine what your billable hours should be.
What I will say goes against the grain of typical business advice on how much you should charge. Yet, I have co-owned several seven-figure companies and now own one of the most successful life and business coaching models, and I have NEVER charged by the hour or by the day. In fact, unless you are in a salaried CEO role, you are worth more than that! The most successful entrepreneurs, think Arianna Huffington, Debbi Fields, and Sara Blakely, do you think they achieved success by charging by the hour? Then why would this be a good business model for structuring your potential revenue?
Signs of Burnout
The problem is that when you base your value on time and not results, you are likely working too much and not enjoying life. This will inevitably lead to burnout. Why? Because it leaves you thinking that to make more money, you need to work more hours, and often you keep pushing yourself until you burn out.
Here are the top seven signs of burnout or that you are on your way to burnout.
- Working too hard and not seeing the results in terms of success and revenue. No matter how much you enjoy what you do, you are more likely to experience burnout if you work too many hours. Often this happens when entrepreneurs calculate what they do based on other professionals who charge less than them.
- You start to dread your business responsibilities. After all, you didn’t become an entrepreneur not to enjoy what you do! If you think you should just get on with things because you can see the potential money your business can make, then make sure you are charging whatever feeling drained and unfulfilled is worth to you!
- Emails are stacking up, and you can’t keep up with demand. This will inevitably lead to burnout, as slowly but surely your goals and the true potential of your business start to seem less and less possible.
- You can’t get to sleep or wake up during the night or very early in the morning (when you didn’t want to or need to). This is one of the most telling signs you are either burnt out or soon will be.
- You feel guilty when you are not working. Feeling guilt about how much work you are doing and not enjoying your life outside of work and business aspirations is not ALRIGHT! As soon as you find yourself thinking about work, when you are not at work or don’t think you can take time away from your business, something is going terribly wrong.
- Procrastination is another classic sign of burnout. When you either find yourself ignoring work and doing things, such as surfing social media. You are more than likely struggling with anxiety, which can cause you to feel burnout at work.
I want you to consider that this is all based on an old-money paradigm.
One filled with feeling bad for charging for your services, feeling guilty and not enough and or concerned based on what others will think of you.
How to Work out How to Charge What You’re Worth
On the other hand, the new-money paradigm is based on each of us owning our worth, while providing immense value to our ideal clients in the form of results, thereby creating win/wins! To do that, we first have to have a scalable, sustainable, and profitable business model and then use effective strategies to achieve our results.
Let me give you an example.
Let’s say with the old money paradigm, you want to make $100,000 and you are currently charging $100 an hour. That means you would need to work 1000 hours to achieve that result.
It is not surprising that most people work too hard and feel burnout at work.
Yet, in the new money paradigm, let’s say on average, it takes you 11 hours to achieve the desired result your client is looking for, and you were to sell that package at $5000. That means you would only need 20 clients and it would only take you 220 hours to make $100,000 in less than two months.
Let’s look at the three incredibly successful entrepreneurs I mentioned above:
- Arianna Huffington – net worth $100,000, age 55 when she launched The Huffington Post in 2005, which she sold for $315 million to AOL. In 2016 she launched Thrive Global – current value $700,000+.
- Debbi Fields – net worth $200,000, age 65, opened her first store in 1977, owner of cookie company, Mrs. Fields®.
- Sara Blakely – net worth 1.2 billion USD, age 51 founded Spanx in 2000. In 2012, Forbes listed her as the youngest self-made billionaire.
In my professional opinion, a one-hour session that would take 11 hours would be out of integrity for creating the win/wins I am committed to achieving with my clients.
How to Be a Fulfilled Entrepreneur
Are you ready to generate significant profits?
Do you feel that you are Meant For More?
Whether this is a bigger house or better car, traveling or having more free time with your friends and family.
You have all the power within you to create a life you love and feel truly fulfilled every moment of every day.
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How to Be Present
When you operate in the moment, you regain your power. To do this, you need to heal your core trauma to base your actions on the present, and only then can you create your reality. A life where you are fulfilled and empowered to create the vision and then align your actions to bring it into reality.
When you do this, you can truly feel your worth and stop giving too much work for your time or working too much and not enjoying life.
Learn how to become aligned with your authentic self and create a fulfilled life that you love. Our Aligned Intelligence Method® is a self-coaching methodology that works consistently and predictably to show you how to change your mindset and access the power within you.
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