August 3, 2021
99.99% of the content that I create and teach is focused on launching digital products in a simple and efficient way that will get you real results.
But I also am realistic and know that this process takes time. It’s not a quick snap of the fingers, overnight thing to generate legitimate income with digital products, despite the fact that I wish with my whole heart that it was.
So something I look to do on occasion is highlight other ways that you can bring in income in the meantime, while you’re building up that digital product based income.
In the past, we’ve talked about freelancing in general, but today I want to highlight a very specific strategy that’s gaining more momentum and popularity - for good reason, too.
It’s called Day Rates.
Ever heard of it?
A “day rate” is essentially when you compress all of your project work into one day - your client pays you a premium rate for your day because they’re getting the work down quickly and because they’re paying for the convenience of fast turnaround in combination with your undivided attention.
A couple examples - you can pay a “day rate” to a web designer to design your sales page or redo your website.
I recently paid a graphic designer a day rate to design a bunch of canva templates for a new product I’m working on.
There are lots of examples of this, and if you’re someone who is currently already offering freelance services, day rates might be a perfect way for you to scale up your income potential, while scaling back the amount of time you actually spend working.
Ultimately, this gives you more TIME and MONEY to grow the digital product side of your business. A win/win/win all the way around.
If you’re wondering what you could earn with Day Rates, I’ve seen everything from $750 to $3,000 for an 8 hour day.
Just imagine you charge somewhere in the middle of that - let’s estimate $1800 per 8 hour day and you only want to work 2 days a week. A fully booked out calendar for you would mean $14,400 earned for 8 days of work a month. Even if you only filled up half your calendar, that’s $7,200 earned for 4 days of work in an entire month. NOT BAD. Not bad at all.
Do you see how day rates can help free up your schedule while also giving you enough time to work on more passive income projects like digital products?
Mhmmm. I do.
If you’re curious about how to get started with day rates, tune into this week’s episode of Rebel Boss Ladies. Sarah Masci is going to walk you through her story with day rates, how to get started and how to get the best results.
To read this as a blog post and for complete show notes, please go to edenfried.com/065
LEARN HOW TO LAUNCH YOUR PRODUCT IN 90 DAYS: https://edenfried.com/rbl