Discover why one of the fastest ways to grow your freelance business is by increasing your client lifetime value. (That’s how much you make on average for every new client you sign, across every project you do for them. Not just the first project.)
This may seem obvious…
But it takes a lot of work to find and sign a new client.
And that means if you only make a few bucks from each new client you sign, you will have to spend a ton of your time chasing down new opportunities. Which puts a serious limit on how much you can earn. Since you won’t have much time left over to do the paid work that actually makes you money.
On the other hand, if you make a small fortune from every new client you bring on board, you wind up on Easy Street. It allows you to be very selective about the clients you work with. And it also means you only need to find a handful of excellent clients per year to earn a healthy income.
This Insight Is Why I Have Started To Be Even More Selective About The Projects I Work On
And now I will only invest my time in projects that pay an ongoing royalty. Since that is the highest-leverage way for me to increase my client lifetime value by a large amount all at once.
See, I’ve already more-or-less maxed out the other top methods for increasing my client lifetime value. Like raising my rates … creating high-profit packages for my services … and booking lucrative retainers.
Which means earning a royalty on the sales produced by my work is pretty much the only viable strategy I have left at my disposal to increase my client lifetime value even more. Since it gives me unlimited upside with minimal downside.
So what are you going to do to increase your client lifetime value after reading this article? Sign up for my email list and then reply to the welcome email you receive to let me know. I’d love to hear from you.