As a powerful, profitable entrepreneur or agency, you should be selling performance.
Nothing wrong with selling time, so long as you understand the pros and cons.
Easy money but limited upside.
My friend, Naveen, calls this chasing pennies, instead of going for dollars.
But if you want a performance-based deal, you must explicitly be able to measure the business result, have the competence to achieve it, and have documented process.
If you’re selling monthly service packages, that’s consulting, which is selling time.
If you charge by project completion, you might still be selling time, if the cost is based on labor instead of profit.
When the client sees you as an expense, the budget is limited.
But when they can directly see the profit from your actions, the budget is unlimited.
Dennis Yu
Dennis Yu is co-author of the #1 best selling book on Amazon in social media, The Definitive Guide to TikTok Ads. He has spent a billion dollars on Facebook ads across his agencies and agencies he advises. Mr. Yu is the "million jobs" guy-- on a mission to create one million jobs via hands-on social media training, partnering with universities and professional organizations.
You can find him quoted in major publications and on television such as CNN, the Wall Street Journal, Washington Post, NPR, and LA Times. Clients have included Nike, Red Bull, the Golden State Warriors, Ashley Furniture, Quiznos-- down to local service businesses like real estate agents and dentists. He's spoken at over 750 conferences in 20 countries, having flown over 6 million miles in the last 30 years to train up young adults and business owners. He speaks for free as long as the organization believes in the job-creation mission and covers business class travel.
You can find him hiking tall mountains, eating chicken wings, and taking Kaqun oxygen baths-- likely in a city near you.
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