Is it possible to make more money while doing less work
that's the big question that I
tackled on the podcast this week with Ryan Bowles
Ryan is a designer and entrepreneur that works with creatives and freelancers to help them grow their businesses
So that's the big question that every freelancer should be asking themselves how can I make more money?
While simultaneously doing less work. It's easier said than done in practice
It can be a little bit tricky things can go wrong mistakes will be made
But that's just part of being a freelancer and following an untraditional path of course you're gonna make lots of screw-ups along the way
When I was talking with Ryan this week
He talked about his lightbulb moment moment the the moment when things kind of clicked and he's like oh shit
Like this is no. This is what I should be focusing on right now, but again
I was challenged by my mentor, and it's it's not an uncommon thing to be challenged by that
What would happen if you doubled your rates great challenge to throw at someone?
What would you what would happen and I sat back and I was like I had to think I'm not the smartest
Tool in the shed when it comes to I might double my rate turn 10 clients
Let's see if I double my rates to $200 hmm
I might only get half the clients like not everyone might take me up on that offer, but I still be earning the same amount
But working half the time, and I was like
cling, like cha ching in a lightbulb moment. I was like I'm gonna try that when I first started out as a freelance filmmaker I
Was doing a lot of $100 $200 projects very low-budget stuff
And I was happy to get the work and every once in a while
I would get these thousand dollar projects which were really exciting
But they also meant I had to do a whole lot of work
And then there was a moment a moment that I shared with Ryan on the podcast when I got my first
Ten thousand dollar project. It was a huge moment for me
That was my first ten thousand dollar project, so I was like I'm gonna stick at it
Honestly when I got that project. I was like this is I don't ever have to work again. I was like this is it
I'm good for the year good. It made me realize. What was possible. Yeah, you have to go through that learning as well
Yeah, cuz before do you die before I was like
I think was $1,500 was my biggest project show and it was for so much more work. Yeah, and then I was like
you know I had learned through somebody at the company that I knew he was like hey other people are pitching and they're
Pitching at and then I was like really
are you serious I gotta stop right there like for everyone gonna be listening to this right now like that is like a
groundbreaking like when that happens in your career
That's groundbreaking like and you need to be challenged by someone outside because you don't know what's possible
We are we get stuck as creative like in this like just this track that right there
I reckon that'll change who I play someone listening to this podcast is watching on YouTube. We're over there
Yeah, that's gonna be groundbreaking for them like what you charge $1500. I've been charging $50. Yeah like
That's all it takes like I said, it's it's it's pretty simple in theory just charge more money
But when you actually start to put it into practice it can be a little bit scary it can be a little bit tricky especially
when you're not busy, so I don't I wouldn't suggest doing this if
You're not getting a lot of work in if you're stressed about paying the bills
Because I've been there before and I know that at that moment all you need to do is get that $200 400 dollar project
When you start to get a little bit busy when you start to build up that client work if you can fill out your schedule
Doing these $400 projects. That's when you can start to push it up a little bit and
I think the moment happens when you get a project that comes to you that you're not that excited about think you're like yeah
Doesn't light my fire doesn't really
Inspire me that much
That's a moment when you say
Screw it. I'm gonna double my rate. I would normally do this video for $400, but I'm gonna do it for 800 now
I recently had somebody ask a question on Instagram. He said
I'm doing 400 other projects right now. I don't even know what a $4,000 project would look like and
my response to him was
It looks the same
It's the same exact video
And that's it's the that's the craziest part about this whole thing is that you're not giving them anything different
It's that you are pushing yourself further in your business
You are now becoming so busy and and people are seeking your work and your wisdom that you're able to charge more money
and
For me as long as I can deliver to the client as long as the clients happy with what I'm providing them as long as
They're thrilled and enjoy the experience of working with me
Then I can charge whatever. I want it that there's it. You know don't worry about industry standards
It's what the other guy is charging down the street if you are
Delivering a premium product a product that customers and clients are happy with you can charge, whatever
They are willing to pay I would caveat that again by saying make sure you deliver because I think that
Ethical is and and and having an ethically run business and having one where you're not scamming people is very
important
but that said
You can charge as much as the client is happy to pay so
My challenge for you this week and in the coming weeks
Maybe in the coming months
the next time that you get a project that you aren't just
So thrilled and excited to work on the one we were like at do. I really want to take this
instead of
Taking it for your usual rate or turning the project down
Double triple quadruple your rate do something crazy do something where you're like
There's no way that. They're gonna accept this bid or this project and
see what happens because those are the moments as a
Freelancer that you're gonna really push yourself further that you're gonna prove to yourself. What is actually possible
Thanks for watching if you want to check out the full episode we've got a lot more tips and advice for freelancers
To watch the full episode go to Machiavelli comm slash
0:53 there's a link in the description
And if you want to find out more about this podcast and the other guests that we've had on the show
go to ground-up show com
See you next time