It’s not selling my time. I’ve discussed in prior blogs that I’ve made a lot of mistakes in building a business. We all have. One of my biggest mistakes in business was building my company based on the idea of selling my hours. After all, I’d been at large law firms, and that’s largely what large law firms do. They sell the hours of the professionals in the firm. I thought that that was my path forward, I thought that that was my path to revenue.
However, as I got more involved and I found out more about who I am and what I do, I figured out that my biggest value-added really is my creativity, my knowledge, my ability to apply solutions to clients. While these things do take time and effort, my biggest value added to my clients is not selling my time. It’s certainly not my availability. I used to sell on my availability and the chance to do certain things. However, I no longer sell that. I don’t sell that I’m available 24/7. I don’t sell that I will do certain things. What I do sell is solutions to problems, my creativity, which requires structuring my time in a completely different way.
If you’re in the business of providing a product or service, particularly a product or service that is often sold on a time basis, you need to think about what your biggest value added is, how you add that value, and what you do. Focus on that value added, not just the time you’re expending. Again, your clients don’t care about your costs or what you put into it, as discussed in a prior blog. What they care about is what the value you deliver is.
How have you been doing with this? Have you been selling your time? Can you focus on a higher value added or a result for your client? Join us in the comments below and let us know your thoughts.
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This posting is intended to be a tool to familiarize readers with some of the issues discussed herein. This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique. Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer Afonso Lima.
About the Author
R. Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment, gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can email R. Shawn McBride or (214) 418-0258.