Want to make $300k+ in 2018? Watch this!

Transcript:

Hey guys, so are you a freelancer or a solopreneur wondering how you can break through that freelance income ceiling and actually build that business that brings in $300,000 a half a million dollars every year. If you are, you're going to want to watch this because that's what this facebook live is all about. Hi, I'm Cynthia and the founder of Zag Studios and I'm a brand strategist and copywriter and I specialize in helping service based businesses create a distinct brand that attracts their best clients and gets paid really high rates while helping them do only what they love. So today I wanted to talk about the whole freelance income ceiling and if you don't know what the concept of the freelance income ceiling, I'm going to walk you through it in just a second. So yesterday was having a conversation with one of my friends who is a ux designer and she has been in the freelance world for the last six years.

Right? And leave. We're having this conversation and she was telling me like, you know, I have these amazing clients and they have me on retainer and I take on projects here and there with all the extra time that I have outside of the retainer, but I seem like I don't know how to grow my business to the next level. So she's, she's doing quite well for herself. She's already making $100,000 a year, which is not a small number at all. If as a freelancer it's pretty healthy number, but she's like, Cynthia, I'm, you know, I am in my twenties right now and to make $100,000 when you're in your twenties is totally fine. High Effort, nice to have you. But when you are a guide, as you're getting older, as you're growing your freelance business and say, in a few years I'm going to be in my thirties and whenever I'm in my forties, I'm going to want to pay for my kid's college education or put down money on a mortgage or do all these big adult things that I feel like I can't do on a freelance income.

So right now what I'm making is enough for me and especially living in an expensive city like Singapore, like I do 100,000 dollars a year is okay for one person, but once you start, you know, be wanting to pay for your kids' education or start having a family, $100,000 is not really much. Right. So she was telling me like, I don't know how to grow my business beyond this because I have a retainer and I have a few clients who keep coming back to me, keep wanting to work with me, but where does my business go from here? And she's like, I don't really want to start an agency and I have a few retainers. I feel scared to let them go. So where do I go from here? And that's an amazing question and that's the question that a lot of my clients have, which is you reach a certain point in your business, especially if you're on a retainer, right after a certain point.

Say for example, you want to charge your client $10,000 per month to be on retainer, why would they pay you that? And they can hire a full time staff. Like why would they pay you that to work with you 20 hours a week when they can hire a full time staff for a much lesser than that. Right? So when you are working on and retain or working on a longterm client project, that's a challenge that a lot of people have, which is where do you go from here? And the advice that I gave her and it's just the same advice that I give a lot of my clients and stuff that I really know works because I've implemented this in my own business, is productized services. So if you've never heard of the concept of productized services before, I love this flower crown by the way, and the fact that all the pedals are dropping, but if you've never heard of productized services before, it's all about making your services as easy to buy as it is to buy like a easy day cake mix at a supermarket.

Right? So you package up your service in a way that's really easy for your customers to buy and you make it available to them at a pretty, usually towards the end of the price range, but you make it super easy for them to pick that and work with you. And the reason why our services are awesome is that it allows you to look at the gaps in your market and really identify what your clients really want and what they really want and what they were willing to pay for your premium for. So I'm just going to give you an example of a product or service. Okay? So for example, in my business, I'm a copywriter. I do a lot of website packages, right? When you work with a lot of other copywriters, the way it works is when you show up and say, what can you do for me?

They'll print basically say, okay, well what do you want me to write? So he wanted me to write a sales page or an about page or a website or social media. There are all these different ways in which a client can potentially hire a copywriter and usually what ends up happening in that situation is that you're trying to look at you and they're like, well, I don't really know what I need like, and you give them so many options and then just like, okay, so I have to pick something from like a gazillion options that you just put in front of me. And when that happens, people don't, you know, people feel confused. They don't know how to make a decision and they don't know what to pick. So what product or services allow you a services allow you to do is to be the expert and find the right mix that will help your clients get the results that they actually want and position it in such a way that your clients immediately know that that's what it held them and that they can buy it and they can get running with it.

Okay? So for example, I do one week turnaround websites, so I left my clients can work with me. We do a three, our brand strategy intensive and then I go away and write the copy one week and I get back to them and I know that pretty much no other copywriter that I know of can do a one week turnaround website. But I do that because I know that a lot of my clients value the ability to get something done really quickly. So that's an example of a product or service where you really make it simple and easy for your customers to understand what you are all about and what you're offering so they can come in and buy that from you. So the reason why I services work better, we can. And the reason why I stepped away from retainers is that as a copywriter, I love doing the strategy.

To be honest. I think the strategy is my, you know, my zone of genius. I absolutely loved doing strategy for my clients. And when you work with a client over longterm strategic part usually ends in the first month or two. And then all the other stuff that you're doing is maintenance. And I absolutely hate doing maintenance. So I took a cold hard look at my business model and I figured, you know, if I'm doing all the stuff that I don't want to do and I don't like doing, like why am I doing it in the first place? Right? So I started focusing more on a producing short, distinct packages that add a lot of value to my clients and making it really heavy and the strategy so they get maximum value from working with me. And the main advantage of a productized service is that it allows you to leverage your time and your zone of genius and what you really wanted to do in the world.

Right? So for example, um, the wonderful productized services is that you can now look at your whole client's journey, right? So say for example, I've worked mostly with service providers, so there are many different types of service providers who exists. So there are. I'm loving all the towns. Thank you so much guys. I can see your names because I am on my phone, but thank you so much. Please keep sending the likes and the hearts and the thumbs and all of that good stuff. Um, I'm, yeah, I'm super excited that you guys are here. Uh, okay. So what was I saying before? Yes, I'm saying that. So you can look at your client's journey, right? You can look at a client's journey and say, so because I'm a service provider, um, many of my clients start off as solopreneurs and then say they might evolve in their business and they come a larger service for a service writing company.

They were the higher people and become a larger team. Right? So as the world in that, uh, in that journey, they might need different things at different points. So for example, my clients were just starting out who can't afford to pay $10,000 to work with me, they still need to put a website together. So one of the products that I have is the one day website template kit. It's a, uh, it's a temporary kit that allows people to write their entire website in six hours. And now that is a product or service as well, right? So that's more a product, it's a product I service, but it's a product that people can buy to get the result that they want really quickly, even if they don't work with me. Another example of a product I service that one of my peers, my dear, it's a copy review, right?

So they do a night even at coffee copy review session, um, you again jump on a call with someone and they held them, review their entire website and they tell them what is missing and what they need to fix and then their client can go ahead and fix it. Right? So that's an example of a product I service my brand strategy intensive, which is called brand crest, which is a three hour branding deep dive. That is a product I service as well because it's a three hour session. It's very distinct. There's one price. I'm trying to know exactly what's going to happen. They know what the deliverable is, it's really easy for them to understand and see the value of it. And when they finished the process, they get a sense of what kind of messages that stand out in their industry, what they want to know or be known for, what are the kinds of services that they can create, how can we innovate on their existing services, all of that good stuff.

Right. So, um, yeah, so those are the couple of examples of products, services and what this allows you to do with really allows you to leverage your time. And I think that's the most important thing, right? Um, and yeah, it's good to have like your massive packages. Like I work with four clients a month, that's all the projects that I have the capacity to take on. Um, and I love that. Like I love that so little and so distinctive because it allows me to really become an expert and really put my 100 percent focus and expertise into just one project at a time. Hi, Penn Solo lead. Have you? Um, and yeah, so, uh, you know, so I've only worked with four clients a month on my higher end packages, but with the best of my time, which is, can, you know, I still have some time available outside of that, but the rest of my time I'm able to provide brand quests strategy sessions which are super high value for my clients and really worth the price that they're paying for it, but they're also easy to deliver for me.

So I leveraged my time and I can make a significant amount of money that goes for around $1,500 USD, which is a pretty good amount of uh, you know, maybe it's a significant amount of money that I can earn as just selling a product I service right. And of course for people who are buying my products online, which is the one day website, that kid, I don't have any like maintenance work to do on this, the gold plan, which includes some one on one time with me. So that's the advantage of and services you really can create different services for different markets. Oh. And another example that I just forgot to mention, so one of the things that I am launching very soon is a eight week coaching program for other freelancers and service providers who want to learn how to productize their service and build a brand around their business, but they want me to guide them through that process over eight weeks as opposed to me doing it for them.

So it's obviously going to be a much lower price point than my $10,000 package, but it allows them to. It allows me to guide them through that process over eight weeks so that they can create it themselves and I can advise them for it, right? Or I can advise them on it. So that's another way of launching a leveraged service. So it's basically thinking about your services with a more strategic perspective as opposed to just telling your clients, Oh, here are all the bazillion things I can do for you by whatever you want. Which is honestly the most confusing client experience ever. I get to be the expert and give my clients very clear, distinct options for how they can hire me. And Do, by doing that, I get to scale my income a whole lot faster and guys, come on, think about it. Okay, if you are doing, if you're, you know, using a gap in the market, for example, the gap in the market that I use as a copywriter was that most other copywriters in that I know off take at least six to eight weeks to turn around and copy and that's just way too long, right?

Like my clients want to get moving in like three weeks or faster. And so I'm not telling them I'm going to go get it done for you within one week, which is amazing. So when they see that, they're like, awesome. So you are someone who can get it done within one week and they want to move forward and they're happy to pay a premium. Right? So that is like a gap in the market that I have used to create my own services. But when you look at the gaps in your own market and you're able to create service, leveraged services around that, you can scale your income a whole lot faster. So think about it like if you are on a retainer, people really can't charge, let's say $10,000 per month each client on a retainer because your client who just rather hire a full time person, right?

But when you're doing project productized services, then you can think about it if you're charging $10,000 for per client, right? Or say even if you're charging $5,000 per client, you just need six clients a month to start making $30,000 a month. So we are on first of today, which means that 10 minutes left in this year for you to hit your income targets. So if you want to make $300,000 in with the rest of this year and that means you're making around $30,000 a month. But if you think about if you're charging $5,000 for a package, you just need six clients, multiple $10,000 per package. You just need three times a month and then you post three times a month. I think. So I really think so. And when you create your packages around your zone of genius and around and very obvious gap that exists in the market, you can charge those premium prices to charging $5,000 or $10,000 per project is really no stretch of the imagination.

So this, so this was my, my big background, but I have a Freebie for you before you guys can hop off. So if you are interested in learning more about productized services, I have a free email mini course that is currently available. I'm going to pop in the link in the comments. It's got called 10 x profits with better packaging. So if you go to my website, which is hello, Zach Dot com, uh, you will be able to find it, but I'm just going to drop it in the comments below. Anyway. It's a free six part email mini course that allows you to learn how to create products and services in your own business and allows you to look at your current services and see what's working or what's not working and what your clients really want. And what are the right clients that you should be providing productized services for and helps you think about the entire thing and put together as a whole package.

This, by the way, is like the best option I have ever created so far. It only went viral. I'm like, just looking at the results that I've had from other options. I've had people loving it. I've gotten really good feedback on it after people using it and implementing their own business. So I know it's really good. So it's a free mini course if you're interested in check it out. I'm going to drop the. I'm going to drop the link in the comments below. But. And also by the way, I just wrote the Alec just before I got out. I hopped on the slide. I wrote down 60 different topics that I planned to cover two facebook lives over the next six years. So at least for the next 30 days, I'm going to be live every single day talking about a new topic around branding, marketing, pricing, um, you know, running a business, the whole entrepreneurial life, all the good stuff and bad stuff that comes with that. So if you are interested, please do join. I would love to have you on the live and I'd love to interact with you and answer all your questions, but if not, I'll see you soon. And thank you so much for joining me for this and Penn and everybody else who's going to watch it in the future. Um, I hope this helped and if there's any way I can help you, feel free to shoot me a PM because I'm super friendly. I'm, I'm happy to help. I'm here to help you guys soon. Bye.

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