If you are selling your time by the hour, there’s one thing that’s certain – at some point, you will run out of hours to sell.
So, if you want to continue to make more money, you have three choices:
→ You find ways to make money that doesn’t require you actually to be there (passive income, products etc.)
→ You find more hours to sell (or create more hours to sell by growing your team)
→ You make your time go further, and the hours you do have more profitable (packing your services, one for many models)
And rather than just choosing one, you might decide to try all three!
But that’s all well and good on paper, isn’t it?
I know that working out how to package your services and price them, rather than just offering everything under a retainer or by the hour, can feel like one of the hardest things to do in your business, but it’s one of the most worthwhile.
Because the harsh truth is you will never hit those big money months by charging £25 an hour and collecting five hours monthly retainer clients.
I know because I’ve been there.
I’ve tried it (and nearly ran myself into the ground whilst doing so!).
When you are trading time for money, you are capping your income and earning potential unless you can continuously put up your hourly rate. Your income is limited by time, and because there are only so many hours in the day, you can only earn a certain amount.
Packaging your services is a much more effective way to sell your services, and there are numerous benefits, including:
✅ You don’t have to worry about tracking time – the focus is on the outcome, not the hours it takes you to achieve it. For example, if you say you will create 12 social media posts for £300, it doesn’t matter if this takes 1 hour or 5 hours – you have agreed to a price for the outcome. This means the benefit is YOURS as you become quicker and more skilled at your work.
✅ The more skilled and quicker you are at what you do, you benefit from this, not your clients!
✅ You can better manage your client’s expectations and deliver an agreed outcome.
✅ Clients don’t get so hung up on time (and nitpick over minutes); this helps remove the frame of mind of ‘I could do it quicker, it’s not worth investing in.
✅ You can work with more clients, start a waitlist and build a pipeline
✅ It helps you to manage your time and pipeline more effectively and gives you more freedom to take time off.
✅ Packing your services is a more scalable business model helping you to increase revenue.
✅ You can leverage your time more profitably by shifting the focus away from the time it takes you to the result you offer.
✅ You will feel more satisfied and valued for your work! You can do more of the work you love and drop the services you don’t enjoy.
✅ Clients are more committed and focused (and so are you!)
✅ It’s much easier to create targeted content about specific offers that meet a need.
Now you’re convinced about the many benefits of packaging your services, here are some tips for packaging your services so you are confident knowing how to introduce them to your business for maximum impact:
👉 Packages work best when they are self-contained jobs with a start and a finish point.
👉 Packages should have a clear outcome and objective so both parties know when the outcome is achieved.
👉 There should be no ambiguity on what is included or what work will be carried out.
👉 Have a clear idea of who your package is for (your ideal client), what problem it will help them solve and the difference/impact/benefits it will bring to their business and then go out and tell them about it (through your content!
👉 Decide whether you can offer that service as a one-off or ongoing package, for example, an email marketing set-up or an ongoing monthly newsletter.
👉 Start with the services you are most skilled with and that you feel more confident with. All skills are not equal, so work on packaging up your most advanced skills and remove these from your retainer offering. Remember, you’ll have invested time and money into developing your skill set, and packages will help you value your skills more effectively.
Learning how to package my services helped me double my income and halve my working hours as a VA; that was just the start.
Since then, I’ve leveraged my skills in multiple ways across my business, including 1:1 coaching, group programmes, courses and passive income.
Now I coach and mentor other amazing women like you to do the same.
To learn more about how to package your services, check out my incredible group training course, The Package Parlour. You can get yourself on the waitlist for when the next cohort enrols or get in touch to chat about 1:1 mentoring and support.
Interested to find out more about packaging your services and how doing it can help you earn more and work less?
Then look no further because I’ve got a fantastic new FREE online masterclass for you called Packaging Your Services – how they’ll help you earn more, work less and take your business to the next level.
It’s full of valuable nuggets to help you:
👉Understand what it means to package your services
👉Feel more confident in your skills and professional value
👉 Focus on selling outcomes and value rather than time
Click the link below and watch the masterclass today!