Podcast Episode 95: Stop Being a Slave to Your Hourly Rate

We’re going to go back in time to my 20 year-old self.

I was looking to get into sales, finance or even medical school and one of my professors gave me some advice that’s stuck with me.

She asked me, “What’s the maximum earning potential in each of these career fields?”

I was caught off guard as I had never thought about having maximum potential.

I always thought the sky was the limit because I was gifted with ideas, thoughts and plans!

She continued to then explain that each of those career fields probably has a maximum threshold on what you’re going to be able to earn.

I really sat down and took a hard look at what I really wanted. I didn’t want to be pigeon-holed. I want to be able to set my own limits. And they’re not going to be dictated by an employer or career-field.

I want to reach MY maximum potential not what my career sets for me or what a job dictates.

This mindset is very much why I started my first company a year later.

So my first business was in front end web design for some huge projects like Mass.gov, which was this huge $88 million web portal.

As I was negotiating our rates to be subcontracted for this project, I had to decide what our max hourly rate would be. I realized how grateful I was that I was building a team right away. It wasn’t just for me, it was for my team.

That maximum earning potential that may have been at $100 got multiplied by 4 or 5 times because of my team. It made for a very powerful place.

I got a glimpse at maximum earning potential inside a service-based business didn’t have to be solely dictated by an hourly rate.

It was a total reframe and I really want you to experience it as well.

Listen into Episode 095 and you’ll learn:

How and when I knew it was a time to reframe my way of charging for my services
Why setting a standard hourly rate is limiting your earning potential
Why your average client monthly value is THE single most important number in your business
Why customer commitment matters!
How I learned to “hire right”
What is the attitude of your business?
Why I look at the sale process as an education process

LINKS:

Text INTERVIEW QUESTIONS to 44222

www.lisekuecker.com/interviewquestions

Join my Ready Aim Empire tribe to find incredible insights from other entrepreneurs and share your own takeaways!

With grit + gratitude,

Xo Lisé

Recommended Episodes

The 7-Figure Teacher Training Framework

Not all teacher trainings are created equal, y’all. Teacher trainings can be a powerful revenue generator, help you give back to your community, and source great instructors for your studio. But here’s the kicker, if you’ve got dreams of growing your program to 7-8 figures: there are certain things you’re going to have to consider: […]
Listen Now
3 Teacher Trainings Every Studio Should Consider

Y’all, a teacher training program can be a little bit of a lot of things. It could be designed to: But no matter how you structure your teacher training, the bottom line is this: it’s a phenomenal opportunity to impact and enrich lives while bringing home some extra cash. But to get started (and make […]
Listen Now
Building a Teacher Training Waitlist that Sells With Ease

Y’all, a teacher training program can be a game-changer for your studio. It can increase your cash flow, enhance your reputation, and you a wonderful group of trained instructors who can join your studio family. But let’s be real – running a teacher training program is hard work. It means extra hours, long weekends and […]
Listen Now
How having a Personal Commitment to something, inevitably helps your business grow. Coach Amanda and Studio Grow client Brady Johnson

Here’s the thing – commitment isn’t a one-size-fits-all deal. To you, commitment might mean working 12-hour days and overseeing every micro aspect of your business yourself. To someone else, it might mean building and training a team that runs the day-to-day so they can focus on the bigger picture – like sales, strategy and expansion. […]
Listen Now