Leveraging yourself

Via Curt's post about 77 Ways to Avoid Burnout, I read the list.

It seems odd to me that the one that would occur to me first didn't even make the 77.

That is this: Do less. If you don't do so much or push so hard, burnout shouldn't be an issue.

I have another one: As you use great systems and tech to make you more productive and efficient, don't fill up the time you reclaim with anything work-related. Fill it with your personal life…with things that nurture you.

I hear from Virtual Assistants all the time who want to understand how to maximize their time and be as efficient as possible so they can work with more clients and make more money. Although I coach them to take more time for themselves, I get what they're talking about—that urge to leverage the time they have. To somehow make more, or contribute more, or.. well, it's just about the "more."

Sure, sure, they can do that by creating additional revenue streams. But each stream requires time, energy, attention, marketing—or it'll just be a trickle. Creating the streams can be a joy for some, but for others, it's a path straight to burnout.

The thing is; you don't need more "stuff" going on in your life in order to get the leverage you want. If you want to leverage yourself, your time, and you want to avoid burnout, here's the formula you've been looking for:

Have fewer clients, paying higher fees,
and working with you for more hours each month.

That's it.

Bit O’Moxie: Instead of a ten-hour retainer, require 25. That instantly takes you from 12 clients to four (with overages).

Instead of $40/hour, charge $65. That instantly takes you from $57K to $93K (assuming a 30-hour billable week). If you can't get $65 from your existing clients, get new ones. And remember, if you don't believe you're worth the fee, no one else will. Conversely—if you do believe it, clients will, too.

What you get is an easier client load, plus more money, without working one second more than you do now. If that ain't leverage, baby, I'm not sure what is! ;>

Comments

[Mary.]

I certainly get that if you charge more/require more hours/client you will earn more money. However, how do you find clients who will suddenly pay $25 more/hr and utilize your services for an additional 15 hrs. In your example a client who had been paying $400 would now pay $1,625. That's quite a jump! Unless you had recently acquired a new set of skills, how do you justify earning $65 vs $40? Unless you had been uncharging for the market, it doesn't seem like you can raise prices just before YOU want to make more.

[Stacy Brice]

How do you find clients who will pay $25 more and use 15 hours more? First you believe it's right for you. Then you believe those clients exist.

If you can't do those two things, you'll never find them, ever.

As far as jumping clients, what I said was that if they won't pay that, then you need to get new clients. I absolutely stand by that.

That *doesn't* mean that you have to ditch them and *then* go find new ones. You would, more sensibly, find a new client at the new rate/number of hours, then let one of the older, lower paying clients go. It's a transition. :)

In reality, I believe that the vast majority of VAs are undervaluing their services, have fees that are substantially too low, *and* they don't raise their fees consistently and appropriately, so they're even further behind than they should be!

Thanks for the great comment, Mary!

Stacy