My inbox is full of questions from readers about how to cut your hours and be more productive. (See yesterday’s email.) Rather than answer them all individually, better for all to answer them here.
First, let’s define productivity…
My definition and metric is dollars created for time invested.
You can debate the validity of money as the measuring stick of productivity, but that’s mine. It’s simple, objective and easily measured. (The bank sends me the score every month.)
First (and most frequent) question: “How did you raise prices?”
There were a number of related questions all basically wanting to know if I tested new pricing or delayed cutting hours before raising prices…all versions of…
“How did you find the confidence to raise fees?”
Hmm…this isn’t the answer you want. But…
I just did it.
It’s not the first time either.
I discovered in my first year of business the power of premium fees. At the time, we were getting 3x market rates.
And EVERYTHING is better and easier at premium fees.
Profit magically solves all other business problems.
And, someone’s going to get premium fees.
Why not YOU?
Does that mean you can raise prices without anything else happening?
I’ll be covering the “other considerations” when doubling or tripling prices in the next issue of The Unstoppable CEO™ CONFIDENTIAL.
If you’re hoping to raise your prices, it’s worth investing in to make sure you don’t miss something important.
Second most common question: “You said that you have a lot of ‘not done’ tasks. Does anyone ever get upset?”
To minimize this you need a BRIEF transition period where you do two things:
- Clean up and complete any existing commitments.
- Explain to those that may be affected by your changing priorities what’s happening. And remember…they don’t get a vote, just a notification.
Third common question: “How can you get more done in less time?”
I don’t get more done.
I get less done overall.
I just get more of the RIGHT STUFF DONE.
More of *my* priority work DONE.
Thanks for all the great questions! :-)