In this episode of the Freelancer’s Show, Reuven and Jonathan discuss “Growing Vertically,” or increasing your profits without increasing your headcount or costs. The topics covered are increasing profits, not having time to do what you are good at, growing or increasing sales, hiring and firing, increase profits not revenue, increase your prices and fees, and much more. This is a great episode for those who want to learn how to increase profits with minimal cost to your freelance business.
In particular, we dive pretty deep on:
- Jonathan’s story on solo consultancy
- Increasing profits, not headcount
- Not having time to do the thing you once you did
- Bring in sales
- Sharing the limelight
- Enabling other to help you with your job
- Hiring, firing, etc.
- Increase profits not revenue
- Increase prices, fees, etc.
- How to increase prices or fees
- They need your help to learn what to do
- Create a new product
- Creating value for the customer and capitalize on it
- The Rub – lower revenue engagement
- How do you do the marketing?
- Shifting to Lower labor higher billing
- Charge for value
- Attending conferences and speaking
- Moving into a different crowd of people, when you get tired of this income
- Moving into a new vertical and making mistakes
- What kind of services to offer to a company?
- How long should I expect to do marketing before landing clients?
- And much more!
- Backups! Use Backups!