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Breaking the Time Barrier: How to Unlock Your True Earning Potential by Mike McDerment

Breaking the barrier

As you may already know, Freshbooks is one of my all-time favorite resources for small business owners and entrepreneurs like myself.

So when they came out with an ebook about unlocking your true earning potential, I knew I had to read it.

I was not disappointed, and neither were the 79,000 people who have downloaded the book so far — so the book much be great right?! Wrong! It’s better than great, it’s mind-set changing!

What Does Breaking the Time Barrier Mean?

Most freelancers and small business owners start their business by exchanging hours of their time for money.

We calculate how much we need to get paid, based on an hourly calculator, or by adding up how much we need to cover our bills. Well this method is completely wrong if you want to build a successful business, and still have a life!

After running a small design firm, and slaving away day in and day out, author Mike McDerment finally got fed up. He moved into his parents’ basement and completely revamped his business, until one year he only worked 19 days and generated over $200,000 worth of revenue.

Yes, you read that right! Nineteen days of work for $200,000. That sounds crazy right?! Well in this short ebook, you’ll find out the system and method to how he made that happen.

About the Author(s)

Mike McDerment is the co-founder and CEO of FreshBooks, planet earth’s #1 cloud accounting solution designed for small business owners. In 2003, Mike built FreshBooks for his design firm, scratched his own itch, then moved into his parent’s basement for 3.5 years to get FreshBooks off the ground. Since then over 5,000,000 people have used FreshBooks to save time billing and collect billions of dollars. Mike and his team dedicate themselves to executing extraordinary experiences everyday for small business owners who want to focus on the work they love, instead of on their paperwork.

Donald Cowper, is a small business writer for Freshbooks. After a brief stint as a child actor on SCTV, playing the illustrious Earl Camembert Jr., Donald became an entrepreneur, freelancer, business coach and best-selling author. After hours, he can be found on a tennis court or home writing fiction. He is the coauthor of the hottest new business book Breaking the Time Barrier and the author of the popular business blog The Cowper Files. – Source

About the Book

Freshbooks ebook

As you can see from the short list of chapters, this  ebook will take you under an hour to read, but will be well worth your time.

The real fun begins after you’ve read the book and start implementing the changes into your business.

  • Introduction

  • Chapter 1: False Start

  • Chapter 2: A Whole New Way of Thinking

  • Chapter 3: Inside Out

  • Chapter 4: The Test

Biggest Takeaway

Charging by the hour is literally crippling your business — my business! We need to change our mindsets and how we interact with our clients. Hourly pricing, flat fees and project based charging is out, value-based pricing is in.

Our clients and customers deserve to get the maximum value for their money, and we deserve to get paid based on the value we deliver. It’s a win-win for all parties involved.

According to the authors, selling hours for money actually creates a conflict of interest. Here are some of my favorite quotes from the book:

“The value of what I do is based on the impact I can have on my client’s business.”

“I’m the accumulation of all my skills and talents.”

“When you start off talking about price with a client, you’re putting your needs ahead of theirs.”

This short story will only take about 45 minutes to read, which you can do in one sitting. And trust me when I say, it will be time well-spent to change the way you do business.

Download the Book for FREE!

Connect with the Authors or Buy the Book

[I did not get paid to write this, and I did personally read the book. As always, the opinions expressed are my own.]
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About Carrie

Carrie Smith is the owner and editor of Careful Cents. She helps serious solopreneurs and full-time freelancers earn more money in less time, through systems and financial organization. She's been featured in The Huffington Post, Glamour Magazine, Kiplinger Finance and several other business websites. In May 2013 she quit her full-time accounting job to pursue entrepreneurship and blogging. You can find her on Twitter or Instagram @carefulcents.

Comments

  1. Stacy Spensley says:

    So glad I saw this, Carrie! I definitely downloaded the ebook already but haven’t read it yet. Now that I know it’s short (and good), I’m hoping to read it this weekend. Thanks for posting!

  2. davewakeman says:

    I’m glad to see that you posted about value based fees. I think its tough for people that have gone from working for a salary or hourly rate to disconnect the idea of trading time for money into this crazy idea that you are creating value for your clients and you should be paid accordingly.

    When I work with people that are talking about setting up a business or starting some sort of consulting practice, I mention this to them very early on because it really makes a huge difference and if you sell it correctly also gives you increased credibility with your clients.

    • I wish someone would’ve told me about value based pricing early on in my business career. I’m glad you encourage other business owners to do this, it’s definitely a smart move for building a successful business!

  3. I’m half way through the book, and this definitely prompted me to finish it. Thanks for the great review!

  4. The Side Economy says:

    This was a super awesome read. It completely challenges the notion that freelance is piecemeal. Most freelancers often undersell themselves because they don’t include the past value of all of your experiences that may have led you to being “super efficient”. Great review.

    • Yes, I totally agree. My whole perspective has been changed and I plan to revise my freelancing rates and the way I view my services.

  5. Cait Flanders says:

    What an incredible review, Carrie. You had me sold in the first few sentences. I read the book in less than an hour and know that I will never think about how I charge for my time/services the same. Thanks for spreading the word!

  6. Erin McNaughton says:

    I just read this book a few weeks ago and thought it was great! It’s interesting in our culture how we price hourly or based on other factors, when what really matters is the value you’re bringing to the client. It was so eye-opening for me.

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