Work Less, Make More: How to Streamline Your Work Week & Increase Your Client Capacity
It probably wouldn’t be too far-fetched to say that a common dream amongst business owners is to be able to work less but make more money. It sounds like a contradiction, but it’s actually entirely possible to achieve. By streamlining your work week and increasing your client capacity, you’re able to get back more time in your business and make more money.
There are really only two levers to pull in order to do this: 1. Increase the price of your package, and 2. Decrease the amount of time it takes to complete a client project. In this blog post, we’ll break down what it means to accomplish each of these, so you can finally reach your “work less, make more” goal.
How to Increase the Price of Your Package
Increasing your package price means you have a clear value of your services and ROI (return on investment). Keep in mind that some prices only make sense for certain industries, and it’s even more different for clients you have on a retainer basis.
Knowing exactly how much money you need and how much time you have to get there is critical because there isn’t a one-size-fits-all approach for what you should charge. We help you figure out these numbers inside The Incubator with our Your Business Horoscope Calculator. Using the formulas we created, you’ll be able to calculate your client value, profit, desired salary vs. revenue goals, growth rate, package pricing, billable rate, and more.
How to Decrease the Hours it Takes to Complete a Client Project
This is absolutely the biggest area of opportunity for most service providers! By lessening the hours it takes to complete projects for clients, you’re able to open up your time by decreasing your utilization. Utilization is the dedicated percentage of time you have reserved for client fulfillment/billable work.
Most service providers coming from the corporate world assume they’ll be able to spend as much time on clients in their own business as they did for their company, but that’s simply not true. In all actuality, your utilization isn’t as high as you might think.
In fact, your utilization as the CEO should be less than half of the utilization of your client-facing employees. We also have a section inside the Calculator that will help you figure out your client capacity using your utilization and other factors, so you can understand exactly how many clients you’re able to take on on a monthly and annual basis.
How to Streamline Your Work Week
Once you’ve increased your package price and decreased the time it takes to fulfill client projects, it’s time to work on streamlining your work week for all of the other tasks you have on your plate. As a business owner, you’re likely having to handle the HR, financial, admin, marketing, support, etc. sides of your business. It’s vital that you get strategic with your time and understand that your work week is going to be different than the people you may have on your team.
Inside the Incubator, we’ll walk you through:
How to design your 20 hour per week (or less) work week
Understanding your current client time vs. future business
How to set boundaries for yourself, with your team, and with your clients
The importance of a project management system & where to get started
How to know what to work on and when
How to perform a time study
How to build out your dream work week
And there’s so much more where that came from! If you’re ready to work less, make more, and work only with your dream clients, apply for The Incubator. Then, send us a DM on Instagram (@bossproject) to let us know, so you can move along quicker in the queue!
