Disclaimer: This is a sponsored review for a book that I really enjoyed reading and got some great ideas from. I’m publishing this review because I know you will get value from it as well!
One of the things many freelancers and small businesses struggle with, myself included, is pricing. How do you determine how much to charge for your services? How do you stop the vicious cycle of taking on low-paying clients who refer other low-paying clients? How do you start enjoying the work you do without killing yourself to get it done?
If you want to find out the answers to these questions, then you should take out an hour of your day to read Breaking the Time Barrier: How to Unlock Your Earning Potential.
This book has received glowing praise from bestselling authors like Tim Ferriss (The 4-Hour Workweek), Michael E. Gerber (The E-Myth), Daniel H. Pink (Drive), and John Jantsch (Duct Tape Marketing). It’s also receiving lots of attention on social media.
What I loved about this book.
What did I love about this book? For starters, it literally only took one hour to read. The authors took into account their target audience (busy freelancers like myself) and the fact that they don’t generally have the time to drop what they are doing to read a novel.
Next, they made their points by sharing a story of two people talking at a coffee shop. When you’re reading it, you put yourself in the place of Steve, the frustrated web designer, who is learning from a successful designer, Karen.
Last, but not least, it’s the kind of story that while you’re reading it, you’re going to have a-ha moments. Lightbulbs will go off. You won’t just get the point, but you’ll see how you can start applying the principles in the book right away to your business.
Also, this book isn’t just about pricing your services. It’s about evolving your business so that you can set yourself and your services apart from the competition. From my own perspective as a freelance writer, that’s huge considering my competition can be found on Fiverr, writing articles for $5.
The examples are really relatable too, no matter who you are. If you’re someone who can’t separate yourself from billing per hour (which is what the book wants you to steer away from), consider this. You would pay a plumber $250 to come and fix a busted pipe in your sink. You probably don’t think of it as paying him $500 per hour if it only takes him half an hour to get the job done. You’re paying him for his skillset and ability to solve your problems. That’s how your clients should be paying you as well.
Can this information apply to other business models?
Yes! You don’t have to be a freelance web designer or SEO consultant to apply the ideas in this book to your own business model. If you make money online by creating information products (ebooks, courses, etc.), then this book will help you shift your focus away from traditional pricing for your product (ie., seeing what others are charging for their information products) to pricing it based on its value to the customer (ie., how much value with the buyer receive when they apply the information you provide).
You get to name your price!
When you go to the landing page for this book, you can download it straight away. No email opt-in or payment require.
Once you’re finished reading (hopefully one hour from now), you can choose to go back to the landing page and pay the price you think the book is worth. Essentially, it’s the honor system.
On a related note, Smashwords did a study on this pricing model in 2010 and found that 85% took the book for free and 15% paid.
If you choose not to pay but love the book, consider sharing it with other freelancers, consultants, and people who struggle with pricing in their business by writing a review on your blog or sharing it on Twitter, Facebook, etc.
How to get the most from this book.
Want to get the most value out of this book for your business? Don’t just download it and save it for a rainy day – read it now! While you’re reading, keep a pen and notepad handy so you can jot down the ideas that come rushing in. You’ll be glad you did!
Are you heading over to download this book? Have you read it already? Please share your thoughts, a-ha moments for your business, and your feelings about the pricing model in the comments!