I have a question that I'm hoping someone here can help with. This is the forum for eCommerce and I'm specifically interested in marketing and selling online so I think this is the best place to put this.
Basically I'm a Freelance writer currently. My business makes about $3000 a month and satisfies all of my basic needs and I only work about 70 hours per month on writing and spend a little bit of time prospecting. I have a good client base that sends me regular work and I'm able to accumulate some savings and have a decent lifestyle.
I realized that I can't grow my business without either taking on more work or raising my rates - two things that I'm not that excited about doing. While I plan to raise rates when getting new business, I'm already quite busy between Freelancing and some side projects I work on and don't have much time for more work than what I'm doing.
My question is about how I can turn my service into a product. I think that I basically have three options:
1. I can hire someone else to do all of the writing for me and focus only on prospecting. I could pay this person by the hour but charge a lot for their time in hopes of making a profit that way and getting a higher volume of jobs done every month to make more money.
2. I can create a website that sells my services at a higher price and invest money in marketing my website to potential buyers.
3. I can create a product that teaches other people to succeed in the same way that I have. I'm not saying that I'm the most successful writer ever, but I can teach people how to start a business and how to service and retain clients.
My question is basically which method I should choose. Is there already a great product teaching people to be freelance writers or can I move into that space and be the best product early on? Would it be more effective for me to hire my own writers? I think I could make like $10K monthly with my own writers, but could I make more by creating a product out of my skills?
Any advice or insight on this would be awesome - thank you!