I am a new entrepreneur in San Francisco. My client-service business is generating revenue that is dependent on how much I work. I feel guilty when I don't work and feel like I need to keep going ALL the time. What are some ways to practice moderation?
Your question indicates that you actually have more than one issue:
1) Feeling guilty when you're not working.
2) Being unable to scale yourself.
You must give yourself permission to take time away or you will feel burnt out. While a strong work ethic is essential to success, working constantly is counter-productive. Schedule time off on your calendar and take it. You will find you get just as much done because you will be more focused when you're working.
Service businesses can be scaled by collaborating with others who can take some of the workload. Plug into our collaboration so you can meet other entrepreneurs who can take on work you aren't as qualified to do or cover for you so you can take time off or in emergencies. We share workloads to smooth out the feast or famine issues that come from being a small freelancer.
Working with others will free up time so that you can implement the excellent advice offered by Laura Lee Rose. If you're already working too much you will need to prioritize and delegate (or turn away work that is not a good fit) so that you can create ways to increase your income in fewer hours.
If you would like to see our collaboration and find out how it works feel free to contact me.
I suggest you do a financial analysis of how much you charge, what you need to make, what you want to make, and the financial goals that you have. This will give you the initial numbers that tell you how much you should work given your needs and goals. As you go on, make sure you are tracking your metrics on leads and conversions. In addition, you will want to do a cash flow analysis. All of these numbers will allow you to predict your income and the amount you need to work. Remember, this is just a simple overview. Give me a call if you have any questions.
One suggestion is to create a product funnel. Create products that are not dependent upon your attendance like videos, online courses, subscription based automated services, etc. Then add/consider group services as a way to increase your income with the same amount of hours. For instance consult. giving a workshop with 200 people takes the same time as a one-on-one ; but will yeild more $$/hour. Then increase your one-on-one rates to your premium clients. Providing a product funnel with a variety of products, services and pricing allows most entrpreneurs the ability to service more people then they have time for.
If you want to talk more about this stragety, give me a call.
Can you automate any of the tasks? I'm sure there are lots of repetitive tasks that can be "streamlined".
Can you delegate? Unless you're always creating new things (which should command a high fee) there is always scope to teach someone to take over at least some aspects of your work life.
Working longer leads to tiredness which leads to making poorer decisions which increases the time you need to complete a task => vicious circle.
You can live 6 months in the US and 6 months in Thailand or anywhere else in South-East Asia. If the services can be done remotely, you will work for 10% of the time and you can live like a king. Also read www.zenhabits.net
