Communication is currency.
This is a fact that all successful enterprises must understand. In business, everything you say, every print or web contact, every way you communicate has a direct financial return. With every transaction you are either moving your prospect closer or further away from a buying decision. With every communication you are either strengthening your brand or weakening it.
Just like the cash in your bank account, your brand currency is based entirely on the shared goodwill of your current clients and prospective customers. It does not matter if you are a doctor, lawyer, writer, butcher, baker or candlestick maker – if your customer is not confident in your brand value, your customer will not use your brand.
Communication is currency. It is simple. It is true. But that does not mean it is easy. How can your creative or commercial enterprise establish and maintain premium brand value? For that, you need a professional.
Sure, you can read up and do your best with it. But is that the most profitable use of your time? There is so much to know and even more to understand: blogs, platforms, applications, markets, calls, style, venue, ebooks, social media, target markets…and endless sea of aspects and applications someone else will always know more about.
Here’s the bottom line…
You need to know if hiring a writer or editor will be a profitable investment. To answer this question, you have to know your communication currency exchange rate. This is another simple formula that most folks use every day…and most of them don’t even know it.
INCOME – (TIME + INVESTMENT) = EXCHANGE RATE
Let’s break down this equation.
- STEP 1 – Take the time you personally invested (at your hourly rate) and add that to the amount of cash you invested.
- STEP 2 – Take that amount and subtract it from your income. This is your exchange rate.
How do you know if your exchange rate is any good? Look at the numbers. Is it more profitable for you to invest your time or to pay a professional writer to provide you with a product?
If you are investing your valuable time in an area outside your expertise, you will likely receive diminished returns.
And, depending on your hourly rate, you may lose money by doing the writing yourself when you could be doing what you do best. That means you are throwing more good money after bad.
So, what gives you the best possible exchange rate? Well, that depends on your unique situation. But my customers are finding, again and again, that, hiring Adam Porter will increase your exchange rate, increase your income and put your communication on a permanent paying basis.