We hustle to charge top dollar for our talents.
Maximizing hourly rates seems like wise advice.
That’s what we’ve been told to do for the longest time.
But charging too much actually hurts more than helps.
Consider this:
What if you could work 20% as much and yet still earn 80% of the revenue, allowing you to take on 5x more clients.
Would that path bring greater rewards for you?
For most service business owners, working less on delivering work to clients is far more valuable than working for higher rates.
Time is the only resource you can't renew. Guard it above all else.
How do you work less but earn the same (or more)?
By charging reasonable rates, not maximum rates.
By documenting your processes into SOPs.
By hiring affordable talent to work those processes, not the most expensive.
By delegating and empowering your team to execute tasks without you.
Yes, your personal rate may get blended in with the others… but that’s the point.
Overall profits will grow and you become more affordable.
Your time is freed up to focus on business strategy and growth.
The wealthiest people in the world don't maximize personal rates or salaries.
Many pay themselves a salary of $1 a year.
They get paid by maximizing business profits.
Then they reinvest 20% of those profits back into their businesses.
Rinse and repeat, and wealth and freedom compounds.
You have a choice in how you move forward:
Will you continue maximizing your rate?
Or adopt a charge 80, do 20 motto to earn more while working less?