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Breaking Through The Service-Based Income Barrier
A little while ago I came across a blog post that really caught my attention.
The reason is because I’ve been where the author is and I know a lot of virtual assistants who are feeling the same as what she expressed. I wrote a pretty helpful reply to her post so I thought I’d share it here.
Here’s the Post from Jennifer of Life-Enlightenment.com (love the name of the site by the way!)
“I have read all the Abraham-Hicks books, all the Dr. Catherine Ponder books, etc…. yet I still find myself at this standstill in the realm of prosperity.
Don’t get me wrong… I am not complaining as I have a full client load, all my bills get paid on time, there is food on the table every day, etc – I definitely feel blessed…. but I have been living basically in a place where exactly what I make goes out to pay my bills. There isn’t extra for a vacation or even a new vacuum.
I try to implement the prosperity lessons I read about and still seem to be living on the edge instead of at the place where I don’t have to watch each penny leave my checking account as soon as it is deposited. So…. for the next month, I am going to make it my goal to figure out what it is I am doing wrong and I’ll share my discoveries here on the blog. If anyone has any recommendations of other books I should pick up or tips to share – please post them here.”
Jennifer
Speaker / Author Management
www.life-enlightenment.com
And Here’s My Reply:
“Hi Jennifer!
As someone who’s been overwhelmed with client work in the past I might have some insight into this.
Obviously we are limited in how much we can make as service-providers. We only have so many hours in the day so in order to grow a service business you have to grow your business in other ways in order to make more money:
1. Bring on and train team members so you can continue to grow your client base.
2. Start creating revenue streams that are not based on hours per dollars and can grow exponentially without the amount of work you do growing the same.
Unfortunately, when I had a full client load I tried both 1 & 2 with not much success. In my own business I had to get really clear on what I wanted and then go for it. So for me it meant that I had to let a lot of clients go and then focus on my MarketersMojo.com business.
Of course there have to be more options than the two I listed above but for me those were the choices. There are people who successfully build and profit from large teams but I think I just wasn’t dedicated or interested enough in doing that to really make it work. Building a team can actually cost you more time and money in the beginning but I think once you have a great team things start to grow and get a lot easier. That’s what I’ve seen from others in the industry.
Wow! I had no idea I’d ramble on so..lol. I think I’ll copy this over to my own blog as well for my readers to enjoy.
Thanks for inspiring a great topic.”
Angela
What do you think?
I know there are many virtual assistants I’ve talked to feeling this way and they’re trying to figure it out. For me, I just had to move on, for others I know they’ve done other things but I can’t really figure out what besides working 16 hours a day.
Have you gotten over this problem? How did you do it?
p.s. While I don’t have a complete solution to freelancing overwhelm, I did create a great product called Online VA Profits that tells how I got 11 clients in 24 hours as well as gives advice on starting and running a VA business. It’s totally free right here: www.OnlineVAProfits.com
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