work life balance

[word and web by george]

ah the elusive question of balance. i cannot believe there is no thread on this topic as yet!

next year i am promising myself i will charge more money (increase my hourly rate) and work fewer hours. it is a bit of a concern when your body clock has become perfectly attuned to staying awake until 1am around 4 nights a week. sure, i am a mum and i'm used to wierd sleeping patterns now, but i know this is not healthy!

any thoughts and advice on how i can take steps to achieve my goal of charging more money and working fewer hours in 2009 gratefully received.

anne

[Jexley]

Just what you're doin' sweets, setting a goal then stickin' to it.

I think it was in one of their newsletters or blog posts or such where I read that somebody writes his goals on sticky notes and puts them somewhere that he can see every, single, day.

When I sit down at my desk and stare at the laptop, I want to make sure that my goals are there, visibly in front of me in a tangible non-electronic form, so that I know they're real and attainable.

Good luck though, I'm actually looking to do the same. Charge more, work less. We'll see how that goes.

[Burgo]

Now I did this in January when I retired, well when I decided to work less.
I simply doubled my price. Yes I increased my price by 100%. As I said I decided to work less.

Believe it or not, instead of my work reducing my work actually increased.
Fortunately through my network of highly qualified carpet cleaners I have been able to keep nine of the Sydney guys in extra work.

Some members in the other states are a little envious.

So how do you get the Balance?

[Rachel Reeves]

Originally Posted by word and web

...it is a bit of a concern when your body clock has become perfectly attuned to staying awake until 1am around 4 nights a week. sure, i am a mum and i'm used to wierd sleeping patterns now, but i know this is not healthy!

What's wrong with staying up to 1 in the morning... anyone? I'm a bit of a night owl I tend to slog through it and actually do my best work in the evenings. On the other hand if you decide to visit around 7 or 8 in the morning be prepared to possibly meet cranky hour at my place.

I think its good practise to review rates once a year in order to keep up with inflation. If you feel that nows the right time to put them up then go for it! If you are looking to put them up a larger amount you could try to ease your current clients into it by putting them up in a couple of smaller increments instead of one big one and offer new clients that come along with the new rates straight up. My weakness is not-for-profit groups. I sometimes feel bad charging my regularly rate, but then I think nah, if they employed someone to do the same job it would take twice as long and they'd probably have to train them first.

Wow that's great Patrick! Kind of makes sense really. Just goes to show that sometimes higher than normal rates can be a greeeeeeeaat sale pitch. I know that I look to quality when I'm seeking out a carpet cleaner, or a building inspector, or a mechanic, or whatever. I also know that I don't mind paying that bit extra if I'm going to get quality from their work. Not sure about 100% more - you must be really really really good Burgo and have some mighty good sub-contractors!

[organiser]

Hi Anne,

I'm not sure if you're in products or services but I'll share anyway...

I went to a great seminar on strategic marketing for service businesses recently and it really got me pumped about changing the way I do business. The premise was that your profit margin is all in your processes. Improve your processes so that your customers get a perception (and sometimes the reality) of an improved service and you can charge more (and if you're smart, do less). For example, if you're a Jim's Mower you could consider taking before and after photos to leave at the clients' homes (or email to them) so they can see what you've done - a small time and cost investment but something other mowers wouldn't do. They'll love the extra touch and that's where your profit margin is - in those extra touches. Perhaps you can add some 'wow' factors into your processes that don't cost you much and you can increase your margin and decrease your hours. You get more referrals with the 'wow' factor, too.

Good luck!! I'm going to do it this year, too!

[MissieK]

Anne, it really depends on what you do.

I have one client who is a VA and she's just raised her prices, and then has a prepaid option for hours worked at a lesser rate - this is helping her plan her time because she knows how many hours each month a client has prepaid her for.

Melissa

[Devan]

Anne - as the ad goes:- "Just Do It!"

Raise you prices to what you think you are worth, and then firmly believe that you are worth that much, and never, ever apologise for your rate to anyone.

That's what I did a couple of years ago, and as others have pointed out here - my workload actually increased instead of decreased. Yes, I did lose a few clients (about 2%), but those were the whiny, needy ones who always complained about my bills anyway. Now I have a great boatload of clients who appreciate my time and my skills - and I thoroughly enjoy working with each and every one of them.

It was a difficult step to take for me, but once I did it, I regretted not doing so earlier. The biggest battle was with myself - convincing myself that I was worth my rate...

Cheers,
Devan

[Lisa Murray - Biz Coach]

Yes, the w/l balance is a challenge, I'm getting better at it, being a recovering workaholic... here's my 10 cents worth:

- be clear about your priorities and major goals - ask yourself 15 times a day 'is what I'm doing right now contributing effectively to my goals or my client commitments/"

- share some tough love in relation to your time - I've started saying no when I sense someone is about to waste my time - set clear boundaries with clients, staff and family.

- Just because you think you 'should' or 'must' do xyz... doesn't mean it's the best use of your time - define what is essential and what you are doing out of guilt or some other useless emotion that is keeping you where you don't want to be (I just finished a 2 week holiday where I did not turn on the computer or return unnecessary calls - I set boundaries with my clients before I went and it was fabulous - only one person was thoughtless enough to cross the line!! YAY - it can be done!!)

Also, for the people who prefer to work at night. I also thought I was much more effective at night. My acupuncturist told me this was just a perception and to try finishing work by 5pm due to the chi energy and how it works with your natural body rhythms. A few months ago I (quite disappointedly) had to admit he was right - that if I work in the daytime, my adrenals are much happier, I sleep better and I think more clearly...hmmm I'm still getting used to that one, but I know my body prefers it, even if my brain doesn't ;-)

One last thing - I ensure I have a 'day of rest' every week - if I have one good day where I don't touch the computer I feel infinitely better...

cheers
Lisa

[Jexley]

Wow Lisa, you hit for six on that one.

I think one of the bigger parts of getting someone like ME to follow advice that I know I should is to show that type of humility that you did, where you have to admit that somebody may have known better and now you're happier following their advice.

See how I did that? Now *I* have to have the same humility and give myself a day a week where I don't touch the computer and also stop working late at night. Heh.

[LeelaCosgrove]

I spent most of last year working 18-20 hour days. It was INSANE (FUN - but insane) - and after that I decided I need a bit of a break this year (read, I only want to do a few hours of paid work a day and spend the rest of the time working on the development of my new products and businesses).

So, I figured out how much I would like to make in 2009. Then I decided how many hours I would like to work (3 or 4 a day over 5 days). Then I divided the amount I wanted by the hours I was willing to work to get the overall amount. This gives me my hourly rate.

For me this hourly rate was actually LESS than I had been charging ... allowing me to adapt special pricing for special people and factor in barter deals. But for those who find the number works out as significantly MORE ... the biggest problem is going to be commanding that kind of money.

It MAY mean finding new clients if your current clients can't afford / won't afford what you are charging ...

The biggest switch for most people is the MIND set. It's knowing you are worth what you are charging and not wavering in your conviction that this is what your work is worth.