You get to charge more for your expertise!
There is someone in our WVA family that is a podcast producer. This is an example of an expertise! Podcast producers can start at $45/hour or they can charge a couple thousand per month.
Becoming an Online Business Manager is a very natural next step for Virtual Assistants. They start at $65 to $150 per hour. You may be thinking “How long do you have to be a virtual assistant before becoming an OBM?” and the answer is: however long you need for it to feel right!
There is no set pace that you are allowed to grow at.
You do not have to wait for someone to die for you to be promoted into their position. It is NOT an old boys club. You do not have to earn your place with seniority.
When you work for yourself online, it is as fast or as slow as you want.
You get to play by your own rules!
Now we are no longer exchanging dollar for hours because not only do you have the hours, but you also have the ability! This is worth more than an hourly rate.
We get to shift our thinking: Our expertise is getting our clients results.
A copywriter might write a sales ad that leads to a million dollars in profit. It may have only taken them an hour to write it, but that hour is worth way more than $20.
You might build a sales funnel and charge $100 for the funnel PLUS 10% of the sales that come from it.
It’s not about how long it takes you to do something, it is about the value of it.
3. ADDITIONAL FORMS OF INCOME
In this phase we add additional forms of income into our business. Think evergreen or “passive” income. Offers you create once and then continuously sell in the background.
Additional income can come from:
- E-books
- Course for your redundant tasks
- Course on your unique expertise
- Program set-up courses + support
- Subscriptions
For example, a Dubsado expert could have you start your journey with them via their course in order to properly set up your account. Only after you have taken the steps to set up the account do they come in and customize the system to support your needs. They can then come in and train your team to use it to its maximum ability.
Similarly, a graphic designer might want to create pin designs for Pinterest and offer the templates on a subscription. Each month the graphic designer whips up fresh pins to send to their subscribers and the subscribers just swap out their colors and are good to go!
In order to transition between each phase, you need to take your money mindset, financial creativity, and income potential muscles to the gym. Start to think about how you can increase your income potential. This does not mean you are greedy. This does not mean you have to be wealthy. This only means you are thinking in a certain way so that you can make a conscious decision.