#035: Seven Simple Success Strategies to Implement in 2014

Welcome to the High Income Business Writing Podcast, helping you propel your writing business to a whole new level. And now, here's your host, Ed Gandia.

Hey everyone. Thank you so much for joining me for episode 35 of the High Income Business Writing Podcast. My name is Ed Gandia and this is the podcast for business writers and copywriters who want to take their writing businesses to the six figure level or the part time equivalent. As a quick reminder, you can find detailed show notes to this episode by going to b2b launcher.com episode 35 so happy new Year everyone. I mean, gosh, I can't believe it's 2014. I it seems like every year, the older I get, the faster a year seems to go by. It was just over in a flash and you know, I'm really, really pumped. I used to be depressed this time of year back when I was employed traditionally because especially in sales, this is when you have to start all over. And gosh, it just seemed like, you know, you just worked so hard the previous year and then now this is holiday hangover and now you're starting from scratch and you're not sure where to start and you're not where you thought you'd be at this point anyway. So, you know, I'm just so glad all that is over and I can focus on my entrepreneurial pursuits these days. And I usually spend about a week, at least a few days between Christmas and New Year's, just really reading, planning, thinking, brainstorming and strategizing for the following year. And I just completed that process. I'm really, really psyched. I have some great ideas for this year. Just can't wait to get things going. And in the spirit of the new year, what I wanted to do in this show was talk about some simple success strategies that I would urge you to implement over the next 12 months. And more than strategies, I think these are really more commitments than anything else. Seven commitments that I would be making this year if, or I would be considering if you're looking to take your business to the next level, to take it to that six figure range on a full time basis or the part time equivalent to that. And what I've done is, you know, I haven't, I'm not using the standard stuff right. You've heard of all the different strategies and there's a lot of information out there. But I picked seven ideas that I feel are simple, proven, and will not only put a lot of money in your pocket over the next 12 months, but they'll also make you a happier freelancer, a more balanced freelancer, and will bring that joy back into your business that maybe you've lost or maybe you feel you're starting to slide a bit and this is not as fun and exciting as it used to be when you first started. Now, having said that, I should tell you that many of these ideas will require you to be disciplined, to get out of your comfort zone, and to think differently about your business and about how you go about your work week. But I really think that if you implement even half of these ideas, you'll achieve tremendous success in 2014. I urge you to consider them all. But if it's too much, pick three that really resonate with you. Pick three and make it a point to really work through these three. And I think you're really going to have one of your best years ever, if not your best year ever. So let's get right to it. The first idea is to start leading with content projects. So what do I mean by that? When I say leading, I'm talking about the way you position yourself, the way you talk about your offerings and the value you bring to the table. And what I'm suggesting here is that you start focusing on more content than anything else. And you know, it's just, and many of you have heard me talk about this before. I've done several training classes on this topic. There's a world of opportunity in copywriting, no doubt about there about that. In the business to business arena, however, I really believe that the biggest opportunities, especially the biggest opportunities to get into a new account, reside in the content marketing arena. By content, I'm talking about writing white papers, case studies, articles, e newsletters, you know, webinar scripts and outlines, video scripts, educational marketing, content that helps accelerate or create or advance a sales cycle. Okay, content marketing has definitely gone mainstream. And business to business companies really need solid content. They don't have the resources internally to get it all done. Let me read you some statistics that recently came out, actually this past September from the Content Marketing Institute. They do a joint study with marketing profs every year and these are the latest numbers. They survey a lot of B2B marketers and they found that 93% of B2B companies are now marketing with content. That's an increase 2 or 3 point increase from last year. 73% are producing more content than they did last year. The biggest challenge that these companies have when it comes to content marketing is not having enough time. And the second challenge is not being able to produce enough content. They want to produce more. They just can't. They just don't have the resources, especially the manpower to get it out there. 54% of B2B companies said that that is a huge problem for them. B2B market are going to be spending 30% of their budget on content marketing alone this year. Think about this. I mean these companies, many of them have million multimillion dollar marketing budgets and they're spending 30% of that budget, almost a third on content marketing alone. 58% of B2B companies will increase spending on content marketing this coming year here in 2014. And this is a great one. 64% of B2B companies will outsource their content writing in 2014. That is opportunity for each and every one of us. So although it might sound more exciting to do, you know, maybe autoresponders and social media strategy and all these other things that, you know, hey, they sound cool. If, if you really want to start getting real success as a business to business writer and if you're not already doing this, I urge you to start leading and talking about content and content writing projects. It really is the most consistent, sustainable need that these B2B companies have that they can't all they can't always do in house. Now if you don't yet know how to write or manage some of these projects, I urge you as part of this effort to commit to learning how to write and manage some of these projects. Now this doesn't need to be a long protracted effort that you're going to spend months on. You're not going to do anything with it until you feel like you've practiced enough. I think there comes a point where you need to kind of get the basics down and then you need to get out there and just start trying. Specifically, I would be looking at case studies, articles, white papers and e newsletters. I'm going to give you a couple of resources that I think are fantastic. And starting with lower cost resources, Gordon Graham's book White Papers for Dummies is just absolutely amazing. You just can't go wrong with that resource. It belongs in your bookshelf. It's something that I think every content marketer, every business to business writer should be reading. I would give it a quick read and then just know that it's there on your bookshelf and you can reference that when you land your first project. Casey Hibbard's book Stories that Sell is a wonderful resource and the middle part of the book has several chapters dedicated to how to write and how to manage Case study projects. So those are fantastic, very low cost resources that you can find at Amazon if you want to take this a little bit more seriously. There's a couple of programs from my friends at American Writers and Artists, AWAI and I've authored a couple of them. So full disclosure, if you end up buying these, I actually make a little bit of money from that. But I wouldn't just like with anything else guys that I recommend here, I wouldn't be recommending this if I didn't fully believe in these resources. And I will make sure to include links to those resources in the show notes. So there's the course or program I should say on writing white papers and you'll find that with awai and I co authored that with Steve Sloan White and then the one on writing case studies. And when I say writing, I'm also talking about how to write and how to manage these projects. That's such a key part of knowing how to do this work. And that's also available through awai. I authored that one myself and another one that's that I've just really recently over the last few months gotten to know better and I think it's just fantastic. Is Michael Katz program on E Newsletters. And this is a very comprehensive package on not just how to write them but how to approach clients, how to package these engagements, these projects and how to create a really lucrative business. Just writing E newsletters for clients. Very steady type of project that can bring in revenue consistently every month. So I strongly recommend that program as well. And that one's also available through awai. Again I'll include links to those in the show notes. Really fantastic resources. And again I urge you to not just sit around studying this stuff and not taking action. I think this is a joint effort where you go out there, you take action, you prospect and at the same time you are learning how to write, manage these projects. And listen, start small, you don't necessarily need to buy these full programs. Spend a ton of money at first. Just start with low cost resources if you have to start with what your budget allows and then go from there. The second idea is to commit to doing some steady proactive prospecting every month. In fact, I urge you to make prospecting and I'm talking about prospecting, I'm talking about output proactive prospecting for clients. I urge you to make that a weekly to approach just a few companies every week. Even if you're book solid, anyone can find time to reach out to even a couple of prospects every week. And of course, you guys, many of you guys know that I'm a big proponent of warm email prospecting. I think warm email prospecting is not only extremely effective compared to all the other outbound prospecting tactics out there, but it also lends itself to that kind of weekly habit. And it's a great way to get into the habit of prospecting for clients consistently. Now, along with that, I would suggest that you start approaching only the types of companies that already understand the value of good copy and solid marketing content. So, in other words, just look for companies that are already producing educational marketing content, such as white papers, case studies, articles, newsletters, and so forth. Start there. That means they already get it. They understand the value. They already have some of that published. Your chances of landing a client that has already invested in these pieces and in this type of marketing are much higher than with someone that just hasn't done anything. And I know it's tempting to try to educate because you'd be the first one they think of, but this, this is not the type of business where it really pays to do a lot of education. It's better to go where they already get it than it is to try to preach to those who just aren't really understanding the value. You know what? This is something that I like to think of when I'm thinking, well, I don't really need to do some prospecting. I got plenty of work right now. I remind myself that steady outbound prospecting is just about the best insurance that you'll ever buy if you're prospecting consistently. And again, it doesn't have to be that much of your book solid, but do it consistently. You will have a full pipeline. You'll have a healthy pipeline that will enable you to make smart decisions when you have to. So in other words, you have a client that's becoming a real handful. They're beginning to be. Problems are starting to come up. They're really pressuring you on things that they really should shouldn't be pressuring you. They're fighting over pricing, whatever it might be. If you're prospecting steadily and you have a healthy pipeline and you're in demand, man, that gives you choice. That gives you the ability to say, you know what? I don't think I can serve you anymore. I think we need to part ways. And that is a very powerful thing to have. So if anything, do it to buy yourself some insurance. All right? The next idea that I urge you to consider for 2014 is to boost your productivity by creating more periods of intense Focus productivity is the most underused profit and freedom lever in freelancing. You know, we all talk about, you know, getting more clients, get better paying clients, getting, raising your fees and all that good stuff. Okay, that, that is essential, no doubt. However, few people ever consider the impact they can have on the freelance business if they were to boost their productivity productivity strategically. You could free up more time, produce better work, and of course, increase your effective hourly rate, your internal hourly rate. Many of you who have followed me on this issue of productivity know that I'm a huge proponent in developing greater and longer periods of focus. I think that's really the key here. We can't really, I think a lot of the productivity advice out there is not really designed for people who are first of all in a creative profession and who work at home and who have all this freedom to do whatever, right? Nobody's dictating what we should be doing. Nobody is scheduling our time. So we have a unique set of challenges that aren't addressed with a lot of this popular productivity advice out there. The key to real productivity in freelancing is to develop more in sharper periods of focus. So one of the suggestions that I have for you is to start implementing the 50 minute focus technique. 15 minute focus technique is very, very simple. You essentially need to just shut away all distractions, close your door, turn off your ringer, turn off email and social media. You work on a project for 50 minutes. Five, zero, you set a timer. I like using an online egg timer. Just Google online egg timer. You'll find a few of them. Start working on that project. Resist the temptation to open your email to, you know, call a friend to go down, open the refrigerator, grab a snack and work on that project and that project alone for 50 minutes. It's going to be hard at first. The first 15, 20 minutes until you get into that flow will be a little difficult. But after that, you start developing some flow and before you know it, the timer's going off. So at the 50 minute mark, stop what you're doing, set the timer for 20 minutes and walk away from your desk. I suggest getting out some, you know, getting some fresh air, walking your dog, doing some yoga, doing some breathing, just walk around the house, go somewhere, read. That's when I get a lot of my reading done, is during these 20 minute breaks. 20 minutes might sound like a lot. You need that kind of a break to make this work, believe me. And what it's going to do is when you come back, you're going to be a lot fresher and your creativity will be back up and your energy will be up. So 20 minutes, the timer goes off, you go back to the same project and you work for another 50 minutes. So you have a 50, 20, 50 minute block. That's exactly two hours. I like to break my projects up into two hour chunks and it's for a reason. First of all, I've always noticed that after working on something for two hours, I really want to move on. That's just me. A lot of people are the same way, but I know some people are not that way that they prefer to work on a project for longer periods. That's the first thing. The second thing is that by doing it in two hours, I can organize my day based on when I have energy to do certain kinds of work. Most of my morning is actually comprised of 50, 20, 50 minute blocks of time. I'll do a 50, 20, 50, I'll do a 30 minute break in between and then I'll do another 50, 20, 50. And that's a big chunk of my morning. If I do just do, it's kind of when I have energy to do certain kinds of work. So most of my morning is actually comprised of 50, 20, 50 minute blocks of time. I'll do a 50, 20, 50, I'll do a 30 minute break in between and then I'll do another 50, 20, 50. That's a big chunk of my morning. If I do just do. If I do two blocks of that kind of focus time, I usually accomplish more in four and a half hours than most people can get done in a day. It's extremely powerful. I know it sounds too simple for it to work. It works very, very well. So the 50 minute focus technique is something that I would urge everyone to implement. Starting immediately, your productivity will shoot up. I guarantee you 20 to 30% the first couple of times you use it. The second idea is to start journaling in the mornings. And I've been practicing a technique. It's actually a very simple technique. It's called Morning pages and it was created by or at least named by Julia Cameron from the Artist's Way. And it's basically writing three full pages of your journal. This is stream of consciousness writing. There has to be no rhyme or reason to it. You just go with the flow and write what's on your mind. If you say I don't know what to write about, you actually write that and before you know it, you're actually writing something. A couple of things. First of all, you get your thoughts down on paper, you Get a lot of the mental head trash, you know, out of upstairs and you really start getting into that creative flow. I find it to be extremely important to set the right tone for the day. It allows me to start on a clean slate every morning and enables me to be more productive. Finally, I have another tool for you, and this is a new one that I've recently come across. And I tell you I've only been using it for a couple weeks, but I love it. And it's called Focus at Will. Focus at Will. I include a link, I will include a link in the show notes to it, but it is a music tool, so I love to listen to music throughout the day. My challenge has been that I haven't found a tool that enables me to stream music that will not distract me. So it's very easy to create a playlist. Okay. And for example, I use Spotify or I could use itunes and I'll create a playlist. But first of all, it takes a long time to create a decent sized playlist and it takes time to create something that will keep me in the flow and won't distract me because many times a song will have lyrics and I don't want lyrics. So I'll say, well, forget that. I don't have time. So I'll go to Pandora and listen to a station, like a new age station for instance. And at first it'll be nice, but then there'll be songs in there or pieces that are. I feel the anxiety in the music and. And it just doesn't work for me. So I haven't found a playlist or an artist or just music that allows me to stay in the flow consistently for long periods. Focus at Will was designed specifically for that. So it's a music tool. It's online. There's a few basic stations to choose from, but all of the music has been scientifically selected for the purpose of maintaining focus. This is not engineered music in any way. These are real artists. But they have carefully selected each and every piece to make sure that it allows you and it helps you maintain focus while you work. I'm really impressed with this tool. I'm really impressed with the price point. It's only like $35 a year. There's a free version you can try. I think you're limited to only hour of music and then it goes back and plays the same one hour selection again. But check it out. If you like listening to music but you don't like the fact that a lot of music is distracting, then I think you'll be really impressed with what this company has done and the science behind it. The point though is this. Look, make productivity a priority in 2014. I really think again, this is an area that a lot of people don't think about. They think that they need to work harder to bring in more clients and more projects. And many times what's really needed is the ability to get more. The point though is this. Look, make, make productivity a priority in 2014. I really think again, this is an area that a lot of people don't think about. They think that they need to work harder to bring in more clients and more projects. And many times what's really needed is the ability to get more done in less time. If you can boost your productivity by 30% over the next few months. And by the way, I think that's a very realistic expectation and goal. I mean, just do the math. If you work 40 hours a week, that could be 12 hours that you free up every week to do other things to, you know, maybe take half of that off done in less time. If you can boost your productivity by 30% over the next few months. And by the way, I think that's a very realistic expectation and goal. I mean, just do the math. If you work 40 hours a week, that could be 12 hours that you free up every week to do other things to, you know, maybe take half of that off to free up a whole day or to take on another client or your combination of these things that could have a huge impact on your writing business. All right, the idea number four is to raise your fees by 20%. All right? So before you freak out, I'll just first tell you that you can do this and I urge you to try this. And let's talk about this. This came from really, there've been a couple of points in my career where I was charging a certain amount or a certain range for a project just because this is what I thought to free up a whole day or to take on another client or your combination of these things, it could have huge impact on your writing business. All right, the idea number four is to raise your fees by 20%. Alright? So before you freak out, the market would bear and suddenly a new prospect came along and I just really, I was book solid, I was happy where I was, I really didn't need the work and I just for whatever reason decided to, you know what, I'm just going to charge more, I'm going to quote more just to see and I'll just first tell you that you can do this and I urge you to try this. And let's talk about this. This came from really, there've been a couple of points in my career where I was charging a certain amount or a certain range for a project just because this is what I thought. And I wouldn't always go as high as 20%. Sometimes I'd go maybe 10% and I would get the work and sometimes I'd go with 20% higher than I normally quoted. And I really, I wasn't anxious because again, I didn't really need the work and I would still land the business the market would bear. And suddenly a new prospect came along and I just really, I was book solid. I was happy where I was. So that's one thing. The other thing that was happening is a couple of times. So going back to this idea that I just thought that this was the market range, I would come across a colleague and he or she would say, well, I'm actually charging X. And that was like 30, 40% more than what I'd been charging for years. Really didn't need the work. And I just for whatever reason decided to, you know what, I'm just going to charge more, I'm going to quote more just to see. And it would make me realize that I had been leaving a lot of money on the table. So those two factors made me realize, you know what, it doesn't hurt to try sometimes just to test your boundaries, just to test the market to see what you can actually get. I'll tell you that most freelancers, and I wouldn't always go as high as 20%. Sometimes I'd go maybe 10% and I would get the work and sometimes I'd go with 20% higher than I normally quoted. And I really, I wasn't anxious because again, I didn't really need the work. And I would still land the business. Writers undercharge for their work and in many cases they severely undercharge. So that's one thing. The other thing that was happening is a couple of times charge for what they're delivering. Okay? The mistake most make is charge less than they should, not overcharging. So I urge you to this year at a couple of points, and I would start as soon as possible. So going back to this idea that I just thought that this was the market range, I would come across a colleague and he or she would say, well, I'm actually charging X. And that was like, you know, 30, 40% more than what I had been charging for years. Quote 20% higher than you normally would so you know, arrive at your fee the way you normally do and then say, you know what, I'm going to experiment with this, I'm going to add another 20% and see what happens. Now obviously as I mentioned, the best time to do this is when you're book solid and you get a new prospect. And you know if and it would make me realize that I had been leaving a lot of money on the table. So those two factors made me realize, you know what, it doesn't hurt to try sometimes just to test your boundaries, just to test the market to see what you can actually get. I'll tell you that most freelancer if you're not ready, if you're not at that point right now, then as I mentioned earlier, buy that insurance by prospecting harder and smarter for the next 90 days or so and get to a point where your funnel is filled, where you have writers undercharged for their work and in many cases they severely undercharge projects and opportunities coming in and you can afford to charge for what they're delivering. Okay. The mistake most make is charge less than they should, not overcharging. So I urge you to this year at a couple of points and I would start as soon as possible, experiment a little and try this out for yourself. Whatever you do though, don't dismiss this 20% idea as some kind of theory or some sort of flaky idea that well, you know, it sounds good on paper but that would never work. I'm telling you it doesn't work. Every quote 20% higher than you normally would. So you know, arrive at your fee the way you normally do three times. But when it does work, it will put serious money in your and then say, you know what, I'm going to experiment with this, I'm going to add another 20% and see what happens. Now obviously as I mentioned, the best time to do this is when you're book solid and you get a new prospect and you know, if pocket and when you do this two or three times throughout the year, it, it's amazing how it's not just the money, it's the self confidence that comes from being able to do it and knowing that you're getting paid for your if you're not ready, if you're not at that point right now, then as I mentioned earlier, real value. All right, the fifth idea is to set aside a percentage, a specific percentage of your income for personal and professional development this year. Now I know that that might sound self serving. You guys know that I have programs I have training programs, I have, I do coaching. I've put together educational programs. Buy that insurance by prospecting harder and smarter for the next 90 days or so and get to a point where your funnel is filled, where you have projects and opportunities coming in and you can afford to experiment a little and try this out for yourself. Whatever you do though, don't dismiss this 20% idea as some kind of theory or some sort of flaky idea that in classes. And yes, I charge for most of that stuff but you know, it's not about me. I'm not talking about setting aside money to spend with me, not at all. I've looking back at my career and the really well you know, it sounds good on paper but that would never work. I'm telling you it doesn't work. Every big advancements that I've made in my income and every time but when it does work, it will put serious money in your pocket. And when you do this two or three times throughout the year, it's amazing how it's not just the money, it's the self confidence that comes just in my career in general. I've noticed that these things came about after I had invested in myself just as a rough estimate. I know that from being able to do it and knowing that you're getting paid for your I've invested 3 to 7% of my income every year since I decided to become self employed in 2003. All the way real value. All right. The fifth idea is to set aside a percentage, a specific percentage of your income for personal and professional development this year. Now I know that that might sound through this past year, 3 to 7% of my income I spend on coaching, on training courses, on books, self serving. You guys know that I have programs, I have training programs I have, I do the conferences, retreats, you name it, personal and professional development, deliberate personal and professional development. And I find that it coaching. I've put together educational programs and classes and yes, I charge for most of that stuff. Helps to commit a certain percentage of your income instead of just saying yeah, I'm going to do some things, you know, commit to a certain percentage. It doesn't have to be high. You can start low. You can say look 2%. And it also depends on how much you're making. So the less you're making, you know, you kind of need a certain amount just to kind of pay the bills. But after you cover that, cover your overhead. But you know, it's not about me. I'm not talking about setting aside money to Spend with me? Not at all. I've. Looking back at my career and the really big advancements that I've made in my income and just in my career in general, I've noticed that these things came about after life. It becomes a little easier to spend a larger percentage. Just start with 1%, 2%, whatever you think could work. Stretch yourself a little bit though, don't, you know, don't think that you can't do it and as your income grows, bring that percentage up. I find that when you commit to a certain percentage, it feels the investment after I had invested in myself, just as a rough estimate, I know that feels less painful and it can be more fun, like you're allowing yourself to go shopping and to find something that will be beneficial to your business and to yourself. I've invested 3 to 7% of my income every year. In my case, I'll tell you that I'm just starting a marketing course this year in which I've invested a significant amount of money. And since I decided to become self employed in 2003, all the way through this past year, 3 to 7% of my income I spend on coaching. And I'm also planning on attending one or two conferences this year and possibly even a retreat and also planning on doing some private personal coaching with my coach. And so this will really be a serious investment year for me and probably, probably going to be closer to the 5 to 7% range of my income this year. But again, on training courses, on books, conferences, retreats, you name it, personal and professional development, deliberate personal and professional development. And I find that it helps to commit a certain percentage of your income instead of just saying, yeah, I'm going to do some things. You know, Ken, I think this is, I see this as an investment in myself, in my business and I'm happy to commit to a percentage and to spend that amount because it is an investment. All right, the sixth idea is to start paying yourself first. And I got this idea from one of my coaching clients and I'm not going to mention her name. Commit to a certain percentage. It doesn't have to be high, you can start low, you can say, look, 2%. Because I'm not sure if she really wants me to talk about her. Her, she's a super, super lady. And we were talking one day in one of her sessions and she came up with this insight. She said, you know what, now that I think of it, this is about paying myself first. And we talked about this a little bit and we realized that there were a couple of components to this. The first is that it's important to pay yourself first financially. I started paying myself a salary in 2012, believe it or not. Before that, I just was kind of winging it. I would pay myself whatever I needed to cover my bills, and then that's it. And sometimes I would have money left over, that's fine, and I would just leave it. It also depends on how much you're making. So the less you're making, you know, you kind of need a certain amount just to kind of pay the bills. But after you cover that, cover your overhead in life, it becomes a little easier to spend a larger percentage to start with. 1%, 2%, whatever my bank account. And sometimes I didn't, so I would have to draw from savings. But I found that paying myself a salary is really the way to go. And it's one of the best things I've ever done in my business. And what I suggest you do is look, start with what you feel comfortable, but make it a where you think could work. Stretch yourself a little bit though, don't think that you can't do it. And as your income grows, bring that percentage up. I find that when you commit to a certain percentage, it feels the investment a consistent amount every month. One idea would be to look at last year and take 90% of what you earned last year and make that your new salary. And then of course, hopefully you'll be growing your business this year. And what will happen is if you do this, you'll leave a balance and your feels less painful and it can be more fun, like you're allowing yourself to go shopping and define something that will be beneficial to your business and to yourself. In my case, I'll tell you that I'm just starting a marketing course this year in which I've invested a significant amount of money and business account in your checking account, which is fine. And what you can do is quarterly evaluate what's in there and decide to pay yourself a quarterly bonus if you think that business is strong enough to do that. Or you could do it annually however you want to do it, but maybe start conservative until you feel comfortable with that. And I'm also planning on attending one or two conferences this year and possibly even pick 90% of what you earned last year. Leave the rest in your account for the variability that you might have throughout the year, which is great, because if you have a lean month, then that 10%, leaving that 10% and having that build will give you that cushion. The other thing you might want to do Is do a combination of this preit and also planning on doing some private personal coaching with my coach. And so this will really be a serious investment year for me and probably going to be closer to the 5 to 7% range of my income this year. But again, plus start with some sort of comfortable cushion, maybe a one or two months salary already as a starting balance there. So let's say that you earned an average of $6,000 a month last year. Well then pay yourself $5,400 as your salary this year and evaluate quarterly. And I think this is, I see this as an investment in myself, in my business and I'm happy to commit to a percentage and to spend that amount because it is an investment. All right, the sixth idea is to start paying yourself, really pay yourself bonuses. Or you might decide to go ahead at some point this coming year or this year, increase your, your monthly salary. The other aspect of this, paying yourself first that my client and I were talking about was to start putting your lifestyle first. I think if for many of us freelancing, definitely life first. And I got this idea from one of my coaching clients and I'm not going to mention her name because I'm not sure if she really wants me to talk about her. She's a super, super lady and we were talking one day in one of her sessions and she came up with this insight lifestyle decision. But I find that as we become successful in this business, the lifestyle thing starts taking more of a backseat and we operate many times out of fear and we make decisions based on, well, I don't want to walk away from this because I'm afraid. She said, you know what, now that I think of it, this is about paying myself first. And we talked about this a little bit and we realized that there were a couple of components to this. The first is that it's important of losing this client or losing this opportunity. So we start taking on more than maybe we should. And while the money might be great, suddenly our personal life, our friends, family and so forth take a back seat. And I think sometimes we have to do this temporarily. But pay yourself first financially. I started paying myself a salary in 2012, believe it or not. Before that I just was kind of for most of us, I think that can become a habit. And next thing we know, we have absolutely no life and we're in a situation that's in many cases even worse than it would be if we were employed traditionally. So my suggestion here is pay yourself purse, put your lifestyle a wing in it. I would pay Myself whatever I needed to cover my bills and then that's it. And sometimes I would have money left over that's fine. And I would just leave it in my bank account. And sometimes, sometimes I didn't. So I would have to draw from first. Which actually leads me to the final commitment or idea that I would urge you to consider for this year 2014, which is to add a fun and exciting element to your life or to your business. And specifically I'm talking about an indulgence from savings but I found that paying myself a salary is really don't currently give yourself permission to take part in. So for instance, let's say that you love going to the movies but you never go because for whatever reason and I'll tell you that that happens to me. I love going to the movies. But you know, my wife hates going because she says that every time we go people are talking and it. She gets distracted very the way to go. And it's one of the best things I've ever done in my business. And what I suggest you do is look, start with what you feel comfortable but make it a consistent amount every month. One idea would be to look at laughs easily. Or I just don't go myself. Or maybe it's a movie I really want to see, but my son's too young to see it with me. Whatever the reason, I don't give myself that simple pleasure. I don't know why I don't do it, but I've made a commitment this year. If there's a movie I want to see and nobody else wants to come with me and take 90% of what you earned last year and make, I'll just go by myself. I don't care. That's the other thing. I didn't want to go to movies by myself. I feel a little weird about that. But you know what? That would make me really happy. As silly as it sounds, just the thought of being able to go to a movie I really want to see and just go get up and go. That's that that excites me that to me that your new salary and then of course hopefully you'll be growing your business this year is a fun little indulgence that I would never or I haven't given myself permission to to. To partake in playing around a golf. And what will happen is if you do this, you'll leave a balance in your, you know, every month with a good friend going on a really fun hike somewhere, a day hike, swimming, you know, doing business account in your checking account, which is fine. And what you can do is quarterly evaluate what's in there and decide to pay yourself a quarterly some swimming every week, a few times a week, getting a regular massage, or going for simple but really fun and relaxing spa treatments, or going having a standing date with your spouse for lunch every Friday, whatever it might be. You know, the point is, think of something that you'd love to do but you don't give yourself permission to do. Maybe it's shopping, you know, even if you don't buy anything, or you just like to go out and just browse whatever it is for you, identify it and start giving yourself permission to do it. Bonus if you think that business is strong enough to do that. Or you could do it annually however you want to do it. But maybe start conservative until you feel comfortable with that. Pick 90% of what you earned last year. Leave the rest in your account for the variability that you might have throughout the year. Which is great because if you have a lean, that's a commitment that I'm making for myself this year. Again folks, freelancing is a gift and we need to take full advantage of it. Because if we don't, I mean, what's the point, right? The lifestyle component is a big reason why we did this. Let's keep it front and center and let's start paying ourselves first. So that's it for today folks. I wanted to keep it kind of short today. The year is upon us, the New year. And I am so excited to have you on board. I'm excited for what's ahead for each and every one of you and thanks for coming back. I appreciate you being a loyal listener of this podcast. Then that 10%. Leaving that 10% and having that build will give you that cushion. The other thing you might want to do is do a combination of this plus start with some sort of comfortable cushion, maybe a one or two months salary already as a starting balance there. So let's say I hope you enjoyed this episode. And as a reminder, you can grab the detailed show notes for the show@b2b launcher.com Episode 35 these are detailed show notes that make great reference material and includes links to all the resources that I mentioned today. A couple of quick announcements. I wanted to remind you, for those of you who haven't noticed or don't know about it, that I have a free pricing guide available on my site b2b launcher.com it lists fee ranges for 32 different types of B2B writing and copywriting assignments. This is something, something I never given away. It's that you earned an average of $6,000 a month last year. Well then pay yourself. Been part of some of my programs. It's yours absolutely free. When you sign up for my newsletter again, b2b launcher.com you'll see it right there on the sidebar. Download it today if you haven't already. If you enjoyed this episode, I'd be very grateful if you shared it with friends and colleagues. And the easiest way to do that is to use any of the social media buttons you see on the show notes page or to go to b2b launcher.com love and finally, I would be very indebted to you if you would be willing to give me a quick rating or review on itunes. The easiest way to do that is to go to b2b launcher.com iTunes $5,400 as your salary this year. Evaluate quarterly pay yourself bonuses or you might decide to go ahead at some point this coming year or this year, increase your your monthly salary. The other aspect of this paying yourself first that my client and I were talking about was to start putting your lifestyle first. I think if for many of us, freelancing is definitely a life, a lifestyle decision. But I find that as we become successful, click on the blue the blue view and itunes button and it will take you straight there. Ratings and reviews helps elevate the rankings of the show, which increases the chances that other people who need this information will come across it. So that's it for today, folks. I am your host, Ed Gamdia. Thank you so much for listening and I hope you have an awesome day.

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In this business, the lifestyle thing starts taking more of a backseat and we operate many times out of fear and we make decisions based on, well, I, I don't want to walk away from this because I'm afraid of losing this client or losing this opportunity. So we start taking on more than maybe we should. And while the money might be great, suddenly our personal life, our friends, family and so forth take a back seat. And I think sometimes we have to do this temporarily, but for most of us, I think that can become a habit. And next thing we know, we have absolutely no life and we're in a situation that's in many cases even worse than it would be if we were employed traditionally. So my suggestion here is pay yourself first. Put your lifestyle first. Which actually leads me to the final commitment or idea that I would urge you to consider for this year, 2014, which is to add a fun and exciting element to your life or to your business. And specifically, I'm talking about an indulgence that you don't currently give yourself permission to take part in. So, for instance, let's say that you love going to the movies, but you never go. Because for whatever reason, and I'll tell you that that happens to me. I love going to the movies, but my wife hates going because she says that every time we go people are talking and it. She gets distracted very easily. Or I just don't go myself. Or maybe it's a movie I really want to see, but my son's too young to see it with me. Whatever the reason, I don't give myself that simple pleasure. I don't know why I don't do it, but I've made a commitment this year. If there's a movie I want to see and nobody else wants to come with me, I'll just go by myself. I don't care. That's the other thing. I didn't want to go to movies by myself. Myself. I feel a little weird about that. But you know what? That would make me really happy. As silly as it sounds, just the thought of being able to go to a movie I really want to see and just go, get up and go, that excites me. That to me, is a fun little indulgence that I would never, or I haven't given myself permission to partake in. Playing around a golf, you know, every month with a good friend, going on a really fun hike somewhere, a day hike, Swimming, you know, doing some swimming every week, a few times a week, getting a regular massage, or going for simple but really fun and relaxing spa treatments, or going having a standing date with your spouse for lunch every Friday, whatever it might be, you know, the point is, think of something that you'd love to do, but you don't give yourself permission.