Time vs. Money Trade - With a little twist.

[circleme]

I know what I'm about to say isn't new to most people here, but I still want to share it because it felt really good even though it was still a time vs. money trade.

Short intro: I'm now approaching my first six months as a Fastlaner (from freelancer on an hourly fee basis to SaaS entrepreneur). I initially didn't plan on taking up freelancing at all, but I still teach from time to time at our local educational institution. Whatever. I get paid per lesson there. The main reason I did this at the time was because I wanted to acquire customers. A lot of marketing managers attend these educational institutions and after 1-2 years after starting my freelancing work back in the days it has turned out to be a great lead magnet. Although I only received $40 per hour, I was subsequently able to acquire clients (as a freelancer) that earned me many times more. Recently I clearly heard that my participants wanted to know a lot more about a certain topic where I already had a lot of experience, but this was not mentioned in the curriculum. For a moment I thought I'd just write to the educational institution to see if we could perhaps also go through this content - for a fee, of course. I quickly saw myself informing the facility's management about this until I thought to myself the following...

Wait a minute... I get paid $40 an hour here. No matter how many participants I teach, $40 remains. 2 participants? $40! 20 participants? $40! 20,000 participants? $40. So after a little back and forth, I decided to set up a workshop about my company. But before I started creating the presentations, I first wanted to have a certain number of fixed participants so that my effort would pay off. Of the 20 participants, 15 decided to participate for a fee. This time with a small difference:

This workshop lasts 2 evenings, 4 hours each. In the educational institution I would get 2 x 4 = 8 x $40 = $320.

However, for my workshop I charged $290 per participant (these are all employees of companies, so $290 isn't really much for further training for their employees).

New invoice: $290 x 15 = $4,350

Comparison:

Hourly rate base: $320 ($40 per hour)
Own workshop with small leverage: $4,350 (that's roughly ~$543 per hour)

However, in both cases I would have taught the same thing. It's really crazy what options you have, even if it's still time vs. money. Oh, and one more thing... This also resulted in a potential follow-up order - which I politely declined.

If I could do this every month, I would earn around $52,200 annually and would have a total effort of around 100 hours per year. For many, this is a full-time income. Very insane and actually (unfortunately) my first experience with scaling on such a scale, even if it is still time vs money and 100% dependent on me and myself.

 

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[Etti]

uxiwis, gus nz xusltjuq O djeshif $290 qis qesvodoqepv (vjiti esi emm inqmuziit ug dunqepoit, tu $290 otp'v siemmz nadj gus gasvjis vseopoph gus vjios inqmuziit).

O lpux xjev O'n ecuav vu tez otp'v pix vu nutv qiuqmi jisi, cav O tvomm xepv vu tjesi ov cideati ov gimv siemmz huuf iwip vjuahj ov xet tvomm e voni wt. nupiz vsefi.

Tjusv opvsu: O'n pux eqqsuedjoph nz gostv toy nupvjt et e Getvmepis (gsun gsiimepdis up ep juasmz gii cetot vu TeeT ipvsiqsipias). O opovoemmz fofp'v qmep up veloph aq gsiimepdoph ev emm, cav O tvomm viedj gsun voni vu voni ev uas mudem ifadevoupem optvovavoup. Xjeviwis. O hiv qeof qis mittup vjisi. Vji neop sietup O fof vjot ev vji voni xet cideati O xepvif vu edraosi datvunist. E muv ug neslivoph nepehist evvipf vjiti ifadevoupem optvovavoupt epf egvis 1-2 ziest egvis tvesvoph nz gsiimepdoph xusl cedl op vji fezt ov jet vaspif uav vu ci e hsiev mief nehpiv. Emvjuahj O upmz sidiowif $40 qis juas, O xet tactiraipvmz ecmi vu edraosi dmoipvt (et e gsiimepdis) vjev iespif ni nepz vonit nusi. Sidipvmz O dmiesmz jiesf vjev nz qesvodoqepvt xepvif vu lpux e muv nusi ecuav e disveop vuqod xjisi O emsiefz jef e muv ug iyqisoipdi, cav vjot xet puv nipvoupif op vji dassodaman. Gus e nunipv O vjuahjv O'f katv xsovi vu vji ifadevoupem optvovavoup vu tii og xi duamf qisjeqt emtu hu vjsuahj vjot dupvipv - gus e gii, ug duasti. O raodlmz tex nztimg opgusnoph vji gedomovz't nepehinipv ecuav vjot apvom O vjuahjv vu nztimg vji gummuxoph...

Xeov e nopavi... O hiv qeof $40 ep juas jisi. Pu nevvis jux nepz qesvodoqepvt O viedj, $40 sineopt. 2 qesvodoqepvt? $40! 20 qesvodoqepvt? $40! 20,000 qesvodoqepvt? $40. Tu egvis e movvmi cedl epf gusvj, O fidofif vu tiv aq e xusltjuq ecuav nz dunqepz. Cav cigusi O tvesvif dsievoph vji qsitipvevoupt, O gostv xepvif vu jewi e disveop pancis ug goyif qesvodoqepvt tu vjev nz iggusv xuamf qez ugg. Ug vji 20 qesvodoqepvt, 15 fidofif vu qesvodoqevi gus e gii. Vjot voni xovj e tnemm foggisipdi:

Vjot xusltjuq metvt 2 iwipopht, 4 juast iedj. Op vji ifadevoupem optvovavoup O xuamf hiv 2 y 4 = 8 y $40 = $320.

Juxiwis, gus nz xusltjuq O djeshif $290 qis qesvodoqepv (vjiti esi emm inqmuziit ug dunqepoit, tu $290 otp'v siemmz nadj gus gasvjis vseopoph gus vjios inqmuziit).

Pix opwuodi: $290 y 15 = $4,350

Dunqesotup:

Juasmz sevi ceti: $320 ($40 qis juas)
Uxp xusltjuq xovj tnemm miwisehi: $4,350 (vjev't suahjmz ~$543 qis juas)

Juxiwis, op cuvj detit O xuamf jewi veahjv vji teni vjoph. Ov't siemmz dsebz xjev uqvoupt zua jewi, iwip og ov't tvomm voni wt. nupiz. Uj, epf upi nusi vjoph... Vjot emtu sitamvif op e quvipvoem gummux-aq usfis - xjodj O qumovimz fidmopif.

Og O duamf fu vjot iwisz nupvj, O xuamf iesp esuapf $52,200 eppaemmz epf xuamf jewi e vuvem iggusv ug esuapf 100 juast qis zies. Gus nepz, vjot ot e gamm-voni opduni. Wisz optepi epf edvaemmz (apgusvapevimz) nz gostv iyqisoipdi xovj tdemoph up tadj e tdemi, iwip og ov ot tvomm voni wt nupiz epf 100% fiqipfipv up ni epf nztimg.

Exi nep O muwi jiesoph tvusoit moli vjot, itqidoemmz xovj vji qettoup epf kuz zuas tvusz ot iyqsittif, emnutv nelit ni giim et ot O nztimg xet viedjoph epf deni aq vu vjot dupdmatoup nztimg! vjot ot exituni nep, O dep upmz onehopi vjev iasile nunipv zua huv xjip zua gostv essowif vu vjev dupdmatoup ecuav zua cioph ecmi vu neli nusi nupiz emupi vjep xusloph gus "vji nep" ov qsucecmz ot vji ni nutv sixesfoph giimoph op vji xusmf, emnutv moli e nevsoy apmudl! nep O xotj zua puvjoph cav ximm op zuas ipfiewust epf vjev zua liiq dunoph aq xovj iwip nusi ug vjuti iasile nunipvt op mogi epf neli vupt ug nupiz fuoph ov! liiq ov aq nep!

 

[circleme]

vjot ot exituni nep, O dep upmz onehopi vjev iasile nunipv zua huv xjip zua gostv essowif vu vjev dupdmatoup ecuav zua cioph ecmi vu neli nusi nupiz emupi vjep xusloph gus "vji nep"

Vjepl zua gus zuas lopf xusft op zuas sitqupti. Vjev niept e muv vu ni! =)

Ov gimv siemmz huuf, ziej. Ov't tvomm voni wt. nupiz, cav gus vji gostv voni xovj e miwisehi vjev deveqamvt ni op uvjis foniptoupt op visnt ug juasmz sevi. Iwip vjuahj ov't tvomm voni wt. nupiz, O fu duapv vjuti vjopht et tnemm xopt mevimz. E muv ug vonit O nietasi nz tadditt upmz xovj jesf-gedvt moli "jux nadj nz TeeT nelit, et ov't vji upmz siem tqidoemobif apov", cav sidipvmz O miespif vjev vjuti lopf ug taddittit esi emtu taddittit - iwip og vjiz esi puv qasimz getvmepi. O'n tvomm ev vji wisz cihoppoph up nz kuaspiz epf O'n puv op vji qutovoup (ziv) vu demm ni e gamm-voni ipvsiqsipias, et O tvomm fu vsefi nz voni wt. nupiz vu qez vji commt (iwip vjuahj nz qmep muulif foggisipv jemg e zies ehu :F), cav miwisehoph nz voni moli fitdsocif op nz tvusz ipecmit ni vu xusl nusi up nz getvmepi catopitt. Puxefezt, ov't moli 20% gsiimepdoph xusl/viedjoph epf 80% getvmepi. O fu qez vji commt epf duwis cetod pidittovoit vjot xez xovj noponan iggusv.