One thing is easy to figure out when you work for someone else: what you get paid for = hours.
No dilemma there.
This is why we all start thinking that way when we become independent, but for many cases it’s the wrong way to follow.
Here are some alternative routes you can take, and when do they provide a better path to success than hours-for-cash?
1. Strategic thinking is not about doing at all: you get paid to provide foresight. It allows the client to dodge traps and avoid costly mistakes. It adds value by enhancing the effectiveness of other people’s labor.
2. Emotional investment: you get paid to be one of the few people a decision-maker can be honest with. This enables the client to air doubts without appearing weak and allows them to make tough decisions faster, saving resources usually spent on back-pedaling.
3. Specialized Social Capital: in this case, “your network is your net worth” applies. You get paid to “open doors” and connect people in ways that make your client’s life and goals easier.
4. Reputation: You get paid to provide a “safety net” to a risky or important project. The client lacks a proven track record to lower the perceived risk of doing the thing, but yours will do.
Now comes the important question: if you see yourself providing some of these in addition to your labor, how do you charge for it? I’d say realizing there’s a mismatch is a good start, and exploring other ways of charging is the next step.