How to increase your hourly rate… and get more free time

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How to increase your hourly rate… and get more free time

Time is the most valuable resource for remote workers. We manage it as an investment. Imagine you’re a manager and you hire your own time to work. Now it’s up to you to decide what to fill it with so that your working hours will bring you the best possible profit. 

You don’t have to change your place of work or profession to get more. Let’s look at a few small changes that you can implement to get more hours and more free time. 

Determine what your cost per hour. Not a month, not a day (you can work both 3 and 10 hours a day), but an hour. Now we will think about what to do to increase this value, to begin with by 10%. 

Hire yourself a job

Write down all your skills and tasks that you are currently performing. And across from each of them, write how cool you are at each one. Look at the price of how much the market pays for it. Of course, it’s worth choosing the one skill you are doing the best and what you can be paid for.

“Fire” those skills that bring you the least money – either stop taking jobs or hire someone who will do it for you for less.

Look at what you can do with your skills

Perhaps, as a programmer or marketer, you have reached the ceiling in your salary. Then why not try to become a mentor, consultant, or create your own course? You don’t need to learn anything again. Just share what you have now.

Achieve higher productivity in one hour

To earn more, you need to do more work in the same amount of hours. To do this, organize the same processes, such as running billing and counting programs.

Remove the psychological fear of getting more

Stop thinking like, «Only a small percentage of clients on the market can pay me as much as I want. So, I’ll stick to the average price». If you can give value to the amount you’ve set, then you’re worth that much. Look for those who are willing to pay for it.

Work for free

Yes, this is not a joke. Free webinar or advice from you in your social networks increase your value as an expert and bring new customers.

Read

Put a counter of your time for each process or task. Over the week, you will see statistics about which tasks you work on longer than others. If you know the potential for professional growth in these tasks, keep working on them. If not, think about it, perhaps this is not your strong point, and you shouldn’t work on it. Use your strengths. If you are doing a particularly good job, you can raise your bets faster. Make sure you are working with the best of your talents and skills.

Develop skills

Small, even not quite specialized skills can significantly increase the cost of your hour. For example, knowing UX will help the copywriter get more for texts to tell the designer where to place the blocks on the next page. It can also be software skills or new languages.

Count the costs

Do you need to buy software or otherwise support your processes? Which of them are necessary and which should be abandoned? 

Whatever you do, make sure that your decision is balanced and move you in the right direction. And when you have decided – do not back down and test your hypotheses until you choose yours. And determine what you will do in your spare time 🙂

And last but not least – remember your value. Don’t be afraid to ask for your real cost (or even higher). You always go down.