I was recently performing a solopreneurship audit for someone who’s trying to improve their coaching business, and they mentioned something that I haven’t talked about enough on here.

When I asked them about pricing, they told me the hourly rate that they charge for their clients.

I realize a lot of people do this. But there is a better way than charging hourly for your services.

You may have seen me talking a lot more about productized services lately.

I think it’s time I elaborate on exactly what this is and why it is the winning business model for the average corporate rebel who wants to generate income outside of the 9-5 system.

There is an unfortunate reality that all one-person service businesses will eventually face.

At some point, the economics don’t work.

For the sake of simplicity, let’s break the business options into two categories.

You can either sell products that you create, or you can sell your services that you render.

A product is something you create or package once and sell repeatedly, with customers receiving essentially the same thing.

So think of things like software, books, templates, courses, etc.

The beauty of products is that they are scalable, meaning the amount you sell is not a function of your time. But products are usually on the lower end of the price scale, thus you must sell a lot of it to make substantial income.

If you don’t have extraordinary reach, a large following, or access to inexpensive marketing and distribution channels, this becomes a big problem.

A service is work you perform for a customer, using your time, skills, or expertise to meet a need or achieve an outcome.

Most coaches, consultants, and implementation businesses fall into this category.

Services tend to command very high prices and profit margins, but they are not scalable. They typically involve selling your time in exchange for money.

And at some point, there is an upper threshold as to how much time one can dedicate to their client.

If the goal is to work less and live more, then venturing into soloprenuership as a pure service could entail creating yet another job for yourself in which you don’t have control over your time.

So how do we solve this? Enter the productized service.

A productized service is essentially a service that’s packaged as a product.

Notable elements include:

You effectively turn your service into a repeatable format that allows you to command the price premium of a service while decoupling your income from your time.

For the average person who simply wants to work less, make more, and enjoy life, the productized service is the quickest and most accessible path.

So if you don't have a massive online following. And you don’t want to keep trading your time for money, then the productized service is where you want to be.

In just 6 months, you can package your knowledge and then sell it for $5-10k.

This is the way.

If you’re ready to break free from the rat-race and begin selling your knowledge, then let’s work together.

Or if you need a lighter touch then schedule a one-time paid consultation