Short advice from a video business owner (Eric Deeran) arguing that earnings depend on the size of the problem you solve, not hours billed. He contrasts charging day rates with charging for solving bigger problems, and advises videographers to focus on solving higher-value problems more quickly and effectively to earn more.
You get paid for the problems you solve, not the time you spend. And so if you're focusing on charging day rates and spending more time on projects, hoping that you're going to get paid more, that's not the answer. The answer is to solve a bigger problem and solve the problem quicker and more effectively so in less time. The shorter amount of time you can spend solving a problem, the more you're going to get paid. If I can solve $100,000 problem, I'm going to get paid a lot more than if I'm solving a $10,000 problem. And so if you're a video business owner or videographer, for me, everything changed when I solved bigger problems for my clients.
