Welcome to another episode of The Tutor Podcast, today your host Neil Cowmeadow discusses the value of time, how to use it and how to sell it. Learn how to do what counts with your time and see your hourly rate soar with multiple streams of income.

Teachers end up continually trading time for money, a transaction that repeats over and over again. Discover how to add residual income into your life, create cashflowing assets and work on your intellectual property. Neil explains how he has optimised his tutoring business to dynamically manage all voids, free up his time and increase his hourly rate.

Neil urges you to have an exit strategy and make the most of your precious time, think about how you’re getting out of your business and what you’re getting out of your business with. Finally, Neil shows you how to work on your business, not in your business by planning the long-term and investing in yourself.

Learn how to start, grow and love your Tutor Business!

KEY TAKEAWAYS

• Teachers want to help people but this can result in a poor use of time with one2one coaching etc. One of the biggest issues is that teachers tend to be paid for their time and this creates scaling issues, when you stop teaching you stop getting paid and there is a limit to time, there’s a limit to what you can get done in your day.
• Do only the things that have the highest value to you. Stop traveling to students and leverage them to come to you. Optimise your teaching schedule, reduce downtime and look ahead at the gaps to ensure you’re using your time efficiently.
• Look at the tasks you can outsource for a lower rate than your teaching rate and you’ll effectively be earning more each hour you teach. Ask yourself am I the only person who can do this? If the answer is no, the question should be who can I get to do this for a lower fee than I charge to teach. Free up your time so you can be productive and improve your skill set.
• Think about assets that will create monthly income, cash cows that have long-term potential and capital growth. But also make sure you develop your intellectual property, learn skills that will increase your value in the marketplace, invest in yourself and increase your desirability.

BEST MOMENTS

• “Time is what keeps everything from happening at once”
• “If you’re a good teacher you’ll be making a good living and will have surplus cash to invest in growth prospects, add income generating tasks or assets in the background that effectively increase your hourly rate”
• “Time is your most precious resource, you must earn the most amount possible with your time”
• “When your time’s up, your times up. You can’t get another minute”

VALUABLE RESOURCES

#0013 The Tutor Podcast - The Right Price

https://itunes.apple.com/gb/podcast/the-tutor-podcast/id1369191372?mt=2

ABOUT THE HOST

Neil Cowmeadow is a maverick peripatetic guitar teacher from Telford with over 19 years experience in the business of helping people. Learn how to start, grow and love your business with Neil’s invaluable advice and tips without the buzzwords and BS!

CONTACT METHOD

Facebook - https://www.facebook.com/neil.cowmeadow

Website - https://www.neilcowmeadow.com/

Contact - [email protected]

Telephone - 01952 882 928