Today, I’m peeling back the curtains to show you the fastest path to cash in a 20 hour week business. This strategy has been the driving force in my business – it has allowed me to generate revenue as I grew my family and working a fraction of the hours I worked in corporate.
This is possible for you too – just because you only have a few hours a day, doesn’t mean you can’t have a thriving business!
This is Yasmin Vorajee from Tiny Time Big Results and welcome to today’s podcast episode.
So if you’ve been in my world for a while, you’ll know that Tiny Time Big Results is all about how to have a profitable 20 hour week business.
And back in the day when I first started Tiny Time Big Results, I really believed that it was all about productivity.
How could I be more productive? At the time my eldest was three and my daughter was just a few months old.
So I had very, very tiny time.
And I felt the stress and pressure of feeling like I’ve not got enough time.
So I decided to flip it and ask myself, ‘how can I make the most of the time that I do actually have?‘
Which led me to think that it was about productivity, that it was about me being more efficient and effective with my time.
And what I found as I started doing this work (and I was teaching productivity and I do have a knack of getting things done in a very, very small amount of time), I realised that whilst that was just one part of the story, there was a much bigger factor at play in order for me to be able to have a fulfilling and abundant business that would give me the lifestyle that I wanted.
I’ve got three kids under the age of eleven. I want to be able to do my work in the morning and be with them and do all the other things that I want to do for the rest of the day.
And so I needed the business to work for me.
I had worked in corporate for twelve years beforehand. So let me tell you know, it’s so interesting because obviously when you’re in corporate, you’re working long hours and here I was trying to create really great results in a fraction of the time.
So I started off thinking that it was about me being more productive.
It really wasn’t.
What I discovered was the bigger factor was how I was actually structuring the business model.
And so what I want to talk to you about today is what I call the upside down business model.
And I’m sure other people call it that as well. This is just kind of something that’s particular for me because this is the way that I looked at it.
You might hear a lot of business advice that says you start by charging a smaller amount and build up your business that way.
I kind of went the other way, and this wasn’t a conscious decision.
I have to be honest with you, it wasn’t a conscious decision, but I actually started out by charging premium prices, and I have continued to do that.
And what I have found is that this actually drives 80% of my revenue whilst just working a few hours a day.
And I think this is really important to know that to find the fastest path to cash in a 20 hour week business is actually by charging premium and not just charging premium.
Because one of my highest values in business is integrity. So this isn’t just about adding a zero to the end of your prices and saying, ‘look at me, I’m charging high ticket prices.’
For me, it’s about creating massive value.
That was always (and continues to be) my driving force.
How can I create something so valuable?
Somebody would look at that and go, this is amazing value.
This is a no brainer.
So I started out by creating premium packages, which enabled me to be able to do the work that I really, really love and enjoy.
It allowed me to work with great clients. I don’t need a lot of clients and I don’t have a big list in my business.
And by having premium offers (that’s one to one and group) has enabled me to be able to do exactly what I wanted.
And to this day, premium offers remain the number one strategy that drives 80% of my revenue.
And I want to share that with you today because like I said, it’s not about just adding a zero.
It is about providing a service in the highest level of integrity.
But what I found as well is that it is about stepping into the identity of someone who charges that.
If you’re a coach, consultant, you’re an expert in your field – I would class premium as charging 2K+.
You’re providing an offer, a service, a package that is typically 2k and above.
And there’s lots of different ways that you can structure this in your business -this is actually one of the things I have great fun doing.
And in a later episode I will be sharing with you some case studies about how this can be so transformative in your business.
It really is exciting.
But one of the things that I want you to be mindful of is that when you’re creating something that’s high value, high ticket and you are creating something that is, you know, kind of maybe pushing you a little bit out of your comfort zone that there is a way to do this that makes it be easy for you to be in full alignment with it.
Because if you just said back, okay, I’m going to just charge premium, and then you put it out there and nothing happens.
There’s a reason for that.
And so there is work to be done to get you to that point. But the beauty of that is actually doesn’t take that long.
It’s about you being committed and willing to actually step into that.
Now, this is something that I talk about with my clients in my Multiplier program (a program that’s designed to get you to 5-10k months in your 20 hour week business).
And it is about the strategy of WHAT you’re doing and HOW you’re doing it.
It’s about the structure of the business model, what you’re charging and what you’re putting into your programs and offers.
That makes it high value.
But it’s also about the energy, the energy that you bring to you, to your work, to your marketing, to your sales.
It’s actually fascinating.
And I am going to be exploring this a lot more in this podcast because I know that this is the fastest path to cash in your 20 hour week business.
I also know that you’re going to have a lot of questions in your mind or a lot of limiting beliefs that may make you think that this is not possible for you.
It 100% is possible for you, but you got to be willing to show up and actually say, okay, maybe I’m not there yet, and that’s okay.
But I’m willing to get there.
I’m willing to do what it takes to get to that point where I can charge, with ease, 2k and above.
And we all have to start from somewhere.
We don’t just go, okay. ‘I’m gonna just charge this’ because it’s an energy thing, and it’s interesting because if you wanted to say charge 5k for a package or an offer a program, then it’s about meeting that energy and being at that frequency of that 5k offer.
And this is something that I just love to talk about, because for me, being self-employed has been probably the most intense personal development and transformation because it’s meant that I’ve had to take those steps and think about, okay, what value are my creating?
And how can I be that person that offers this package? I remember when I sold an 8k package and I was like, ‘oh, my God’, that was a pivotal moment for me!
It’s when you start pushing yourself out of your comfort zone knowing that your greatest expansion is over there and what you’re doing is just stepping into that.
And that’s what premium can do for you.
Not only does it allow you to create generous revenues in your business but you do it whilst working a fraction of the hours.
This is what helped me to replace my corporate salary whilst working a fraction of the hours, be there for my kids, do all the other stuff, make sure I go for my walk every morning.
My daily walk sets me up for the day, and I can do that because I know the business allows me to do that because I’ve structured it that way.
But it means that it gives you that space to be creative.
It gives you that space to not worry about bills, to know that if you want to go and just have a little bit of a splurge, you can.
So this is what I love about this, because not only is it about helping you to create generous revenues, helping you to create more space and energy in your business so that you can really think about how you can serve your clients at a higher level.
And also this has so many ripple effects for your clients.
Like I said, we’re going to go into this a lot more in this podcast (future episodes).
We’re going to dive deep into it because I think this is such a fascinating topic.
And truth be told, I’ve always been fascinated with premium offers, premium packages.
My eldest son and I love watching videos about the most expensive burger or whatever it might be, and I’m always fascinated with the psychology behind it.
There is a psychology behind it.
There is strategy, and there’s an energy behind it.
And that’s exactly what we do in Multiplier.
If you want to know more about Multiplier, then just send me a message, I’m more than happy to have a chat with you about that (you can book a strategy call here http://www.bit.ly/talktoyasmin)
I’m going to leave you with this for today, right?
The upside down business model allows you to create generous revenues whilst working a fraction of the hours instead of just getting by. Instead of busting a gut trying to sell many low priced offers because for those, you need volume.
With premium, you actually need fewer people.
You don’t need a massive audience.
We’ll talk a little bit more about this in future episodes as well, but trust me, you don’t need a massive audience in order for you to hit your income goal.
If you want to make 8k p/m month and you had a 3k package, sell three and you already made more than what you wanted, right?
So that’s what I want to get you excited about.
And what I want to leave you with today is get excited about the possibilities, how you can serve your clients at a higher level, how this gives you the space to be more creative and how it gives you that space to be able to reach more people.
Because by doing this, I was able to write my book.
Now that book gets read all around the world.
It’s so exciting.
But you can’t do that when you’re in a space of always worrying about the bills.
And what happens is that makes you take very short term decisions, and it gets you into the short term actions rather than thinking big picture, long term.
When you’ve got money coming in; you know you’ve covered expenses, bills and you have money left over, that gives you the space to be able to do just that.
Big picture, long term thinking.
And you’ll be able to grow your business far quicker, okay.
So I hope that’s been useful to you today.
Let me know in the comments. Come over on social. Find me and tag me and let me know what you think.
If you want know more about Multiplier, then just send me a message. You can email me at email@example.com or book a call using this link http://www.bit.ly/talktoyasmin
I look forward to seeing you the next time.
Take care. Have an awesome day!