Is poor pricing costing you freedom? Let's fix it.

Greetings from Troy,

Today we're going to talk about pricing, and figuring out how you structure your packages.

When we get confused and a little bit scattered in our thinking, we often have no "Stable Datum" to lean on.

Now, what is a Datum?

Datum Definition: A fact or proposition used to draw a conclusion or make a decision. I was having a conversation with a consultant that wants support and they had a few questions.

"How do I figure out my pricing, and who I'm going after?"

Before defining your market, it makes more sense to figure out your pricing.

WAIT, WHAT?!

Yes, markets change. Pricing shifts with markets, but if you don't have a stable understanding of what your baseline services cost, it makes it impossible to move other pieces forward.

My suggestion?

Find stability inside your freedom number, or, some might call it your lifestyle number.

Use the Freedom Number Cheatsheet Here: https://docs.google.com/document/d/14FO4UssNmwE_rlRIVFmgguwmGiXVwjSV6lQIKkuYBgQ/edit?usp=sharing

The thinking behind your freedom number is it is your datum, if you understand what your lifestyle costs you can build your consulting packages around your lifestyle.

Your lifestyle costs, your monthly nut.

The reason you start a consulting practice is for freedom, and lifestyle.

It gives you control of your time and the ability to choose who you work with.

Most consulting packages are based around monthly retainers or project fees.

So, let's say you do your freedom number.

You need 6-10k/month to get ALL of your needs covered.

Consider building your packages around that - 3x 3k/mo packages damn near covers ALL of your expenses in full. OR? You need 1 project at 60k spread over 6 months.

Simplifying here.

Since we're working backwards, you can then figure out how do you add 3k worth of value or insight to your packages.

OR, how do you add 6 months of value to a 60k package.

What are those deliverables?

We went from...

1. Finding Monthly Expenses

2. Structuring Pricing to Fit Expenses

3. Now, Fit your Deliverables into your Pricing

Pretty simple, to be fair. Not easy at all, but simple.

When things get a little scattered, find one piece of "stability" in your thinking aka DATUM and then you can ground your thoughts, and move towards your outcome.

The Mission

I worked construction for many years, and always dreamed of a "better" life.

It was breaking down my body, and I really didn't see a bright future.

I accidentally found consulting after doing a handful of design projects.

I realized that consulting would be a bigger leverage of my time, expertise and allow me to continuously study, sharpen my skills and didn't leave me feel like I was stagnating.

This last year, while I still run an advertising agency I decided I should build an offer around consulting and helping consultants land bigger and better deals.

They're my people, and I like the way they think and act.

Consultants and aspiring consultants want awesome clients they love, freedom and spare time to enjoy life.

They want to build a life around their business, and not a business around their life.

The Study

This Tim Ferris podcast was really good, I enjoyed it.

How do you know what you want to do next?

Tim explained, he tries to look at his next steps as... "What gear do I want to be in?"

Do I want to be in SUPER STARTUP GRIND gear?

Or do I want to be in more of a laidback gear?

I think this is a good podcast to understand a bit of what next steps and direction do you want to take your career. Consulting is a nice transition into your potential next phase.

The Homework

Do the freedom number, figure out your lifestyle number.

Dream it up a bit and get a little creative.

Once you know where you need to go, it's much easier to get there.

If you don't know where you're going or want to go, it's pretty difficult to make a plan and take the steps needed to move it all forward.

On your side, Troy

P.S. The freedom cheatsheet is example of some of the materials you'll get when we work together. If you'd like support re-positioning your offer and landing bigger projects with dream clients send me a DM to discuss further and I'll get you all the info.