In the early days of business there was a time where money was tight. I had 5 employees and a rent to pay. The main reason money was tight was my own fault. I was allowing a group of older clients to pay me after the service was delivered instead of paying me upfront (which I didn’t allow shortly after). But the point is that I was starting to freak out because I had people to pay and I was already skipping out on paying myself that month.
I went for a long walk by myself where I came up with an idea to increase the price. I sent out an email to all the clients saying that we will be increasing the price tomorrow and that this was their chance to renew today at the current price they had signed up for previously.
I made $60 000 the next day, I fixed the core of the problem and that was the only time I ever came close to not paying people again. Whether it’s making money, or getting healthy I’ve realized over the years that it’s not about working harder, it’s about working smarter. One good idea can change everything.
Also published on Medium.