image for post - FT 040: The Habits and Mindset of a $250,000+ Solo Consultant with Ryan Waggoner

FT 040: The Habits and Mindset of a $250,000+ Solo Consultant with Ryan Waggoner

Ryan Waggoner goes deep on the mindset and habits that he's developed which have allowed him to earn over $250,000 profit year after year as a mostly solo mobile app developer.

Ryan shares the very specific market that he targets with his mobile apps, why it's critical to charge for results and not hours, and the productivity habits he's developed that allow him to get so much more done in less time.

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Ryan shares with us:

  • Ryan's Idea Client: Ryan is clear on exactly who his target client is - funded startups who are looking to build the first version of their mobile app.
  • Charging for Time vs Value: If you insist on charging for time, weekly is vastly better than hourly. But charging for value, the result and certainty of knowing your investment will reach that result, can be far more profitable.
  • Determining a Client's Budget: Writing proposals is time consuming so rather than jumping into the proposal, Ryan outlines the project in a simple email with a budget. This avoids heavy time investment only to be turned down. The proposal can come later.
  • The Limitations of Trying to Define Scope: To define a project so carefully that there's no disagreement could take longer than completing the project. So it's important to define the scope to a reasonable level, but also find clients who are reasonable people.
  • What Allows Ryan to Earn $250K+ Per Year: Part of it is being able to charge premium prices thanks to the concepts above. Part of it is taking a far more productive approach to the day.
  • Ryan's Early Riser Habit: Ryan is an early riser, starting the day at 4:30am and going to bed at 9pm. Before starting on work, he uses the "morning pages" concept: writing 500 words of anything that is on his mind.
  • The Dangers of Willpower Depletion: The more you have to exercise your willpower throughout the day, the more it weakens.
  • The Pomodoro Technique: Ryan uses the Pomodoro system of time boxing to create focus on his tasks. At the end of each Pomodoro he'll take a break, stretch, etc. Ryan found the standard Pomodoro length to be too short so he does 45 minute blocks of work with 15 minute breaks. He attempts 6 Pomodoros a day, which accomplishes a "shocking amount".
  • The Impact of Higher Income on Ryan's Life: Ryan started as viewing freelancing as a stepping stone to products, but has since realized that he can do this for the rest of his life if he wants to. Consulting income has also allowed him to have financial margin in his life and to do some of the things he's always wanted to do such as be a pilot.

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