As independent professionals, we need to be thinking about the 'billable' hour as a key performance indicator. (I guess I did learn something from my process improvement training at GE).
One of the things that can boost your hourly rate is to create multi-use products, that will allow you to leverage your time and increase your reach within your market.
Enough of the corporate jargon, here is what this means, and here is how to do it:
1. Record Everything that you do.
For Example, let's say that you are going to do a teleclass. You invite people to be on the call, and you record the call. Now you can edit the call, and create a product that you can sell, a podcast or a 'talking brochure' that you can send to your prospects. I have a client that does this on a regular basis, and from one teleclass that he turned into a product, he has made over $8500.00 from the original 1 1/2 hours that he spent on that call.
2. Use the same information, but put it into a different format- from Audio to Print or Print to Audio.
If you are doing a workshop, you can record it, transcribe it, and create an ebook that you can sell, or slice it up into nice sized topics and post to a blog, create articles or use it for marketing material. If you have written a lot of articles, or blog posts, you can 'read' them to your prospects and clients and now you have audio files that you can sell and use as marketing materials.
Remember, as independent professionals, we really only have two things- our time and our ideas, and we shouldn't waste either one!
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