Everybody knows it: Trading your time for money isn’t scalable. And yet, it’s the main system most service-type businesses operate on. Professions like personal trainers, consultants, coaches… and so on. But that’s problematic. Because when you’re in that situation, the only way for you to get more profitable is to book more clients. So you end up overbooked, sacrificing your lifestyle.
The most common way out of this hamster wheel is to start servicing higher-level clients. People with high net worth. So now you can charge more, have fewer clients, and reclaim back some of your time.
That’s the good news. The bad news is
It’s kind of a trap. While it’s true that initially it seems like you have more flexibility, and it can even be fun and glamorous… When you really think about it, you haven’t actually changed anything. Fundamentally you’re doing the same old thing: Delivering personal service to people. In other words, you’re STILL trading your time for money. It’s just that your time is worth more.
But at the end of the day, when one client wants you to fly to the Bahamas, another one wants you to come to Aspen, and the third one books you for a full week in Saint Tropez for the nth time… you end up in the same spot you were at the beginning: Overbooked and sacrificing your lifestyle.
The only true way out of this never-ending cycle is to STOP trading your time for money. And focus all your creative energy on what is the most beneficial for growing and building out your business. Because what you really want is for it to eventually run itself and get you that freedom.
And here’s the best part
Once you figure that out, once you create the scale-ready algorithm that takes your business to the next level… not only you get more time and bigger profits… You also get to help MORE people than you could’ve ever done before.
Think about it:
By trading your time for money, you’re doing the world a disservice. Because functionally, you’re impacting far fewer people than you would be by creating a system that scales.
Joey Atlas and I go into more detail over on the podcast.