We all want to make more money. But, what happens when you are fully booked and all of your time is taken up?
If you feel like there is just not enough time in your work day and you feel limited on what you are earning, here’s how to make additional income when you’re booked out.
Take a Look at Your Roster
If you are working with clients, I would look at your roster. Are there client’s who are paying less for your services than others?
For instance, it may have been a client you booked when you were first starting when your rates were lower. Can you raise your rates on those clients? If you can’t raise your rates, do you need to let them go?
You may need to get rid of the clients that are taking up your time and not paying you what you want to make. Raising rates is a normal part of this business especially once you learn more skill. Let those clients go who are not willing to pay what you are worth.
Additional Sources of Income
Ask yourself if you can make some additional income besides your retainer clients. I know what you are thinking, “but Jess, I am fully booked!”. Well, there are sources of income you can offer that are super quick and you can charge a good amount for.
This could look like a tech training session. If you could offer a sixty-minute session where you are walking a client through something they do not know how to do, you can charge a lot more than your regular rate. That is one service that I really recommend offering because it is so fast, it is good money, you can find the time to fit it into your schedule and it is a good experience. Wondering how to offer this? Check out my mini-course on How to Offer Tech Coaching as a Service.
Another option is offering VIP days. Those are days that you set aside for a specific client to teach them something. It may be a welcome sequence or a particular system overview. On your end, it is only a few hours worth of work and you get paid a lot. Honestly, people charge thousands for these VIP Days.
Clients will pay top dollar for VIP Days because they are getting your full attention and they are getting something done quickly. The best part, when these days are over, you are done with that client. You don’t have weekly meetings or weekly phone calls. It is a 3-5 hour session and that is it.
Outsource Some Work
Another way is to outsource some of your work. Hiring a subcontractor is so helpful. They can do the little things that you simply don’t have time for. It’s also great because you can hire them to do the work that you hate. I really don’t like scheduling emails. It stresses me out. So, I hired a subcontractor to do that for me. Not only am I freeing up time, but also relieving stress.
I couldn’t function without my subcontractors. It frees up a lot of my time which, even though I am paying a subcontractor, still allows me to increase my income.
Just make sure that after paying your subcontractors you still are making a profit.
Check out my VA Directory here if you’re interested in hiring.
Create a Product you can Sell
There are a lot of products you can create that provide additional income. Mini courses are a great example of this. Say, for instance, you have a client that can’t afford your services. You could offer them a mini course that you already created.
It takes some time to build these courses, but once you have them set up, you can literally just send the link and be done. You are making money and not doing any additional work.
How to Make Additional Income When You’re Booked Out
There is no need for you to be capped financially so, take a look at your roster and either raise rates on clients or let them go. This will free up time and energy for clients who will pay your worth. Find ways to make more money that are super quick and easy to do such as tech trainings or VIP Days. Hire a subcontractor to do the small things so you can focus on making the big bucks elsewhere. And, create a product such as a course or guide that you can sell.
What are some ways that you make extra income when you are booked? Let me know below.
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