Steve Mills- Posted on
Unless you are a footballer, pop star or other high earner. Even then it relies on you being there and not getting injured.
It is far better to build a business that relies on your thinking, rather than trying to do all the work yourself.
Here is an example…
Just over a year ago, I met a very successful solicitor. She worked in London and had a charge-out rate of £500 per hour and so she was by all accounts very successful.
However, what she wasn’t successful at was having a balanced life. She hated doing what she did and hated travelling every day on the train for two hours to get to work.
Eventually, she decided enough was enough, and she resigned from the law firm that she worked for saying that she was going to set up a different kind of law firm working from home.
What she did, was set up a business, providing legal advice to small businesses, charging them a minimal monthly fee to be a member of her club. The club provided a weekly Q&A, where members could log into a Zoom meeting and ask her questions. In addition to this, she also provided a certain amount of legal document templates and some video-based training and advice that members could access.
Within the first year of doing this, she’d built her membership up to 1,080 members. These members paid her £49 per month. I’m sure you agree getting high-level legal advice for £49 is a fantastic deal.
Let’s have a look at the numbers
This works out at £52,920 per month. That sounds pretty impressive to me, but even more impressive when you think that her job involves two hours of her time per week plus other admin and sales and marketing tasks. I’m sure you agree. Is this something worth thinking about?
