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How Much Are You Worth?

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When I begin working with a client, the topic of how much they charge for their services usually comes up. They will often tell me they need help to price their services and that they are not sure where to start or how to decide what to charge.


The first place I start with them is to understand how they value themselves. I ask them what they think they are worth? How much should someone pay for an hour of their time? There are usually some nervous giggles, an air of uncertainty and a then the hard thinking begins. They don't know, well, they're not sure, well... maybe, like, around say, $150 an hour. Really? Is that what you're worth? Then I ask them how much I'm worth to them. They say things like; 'priceless'. I don't tell you that to brag, I tell you this because it makes the point. I give my clients a solution to the problem they are having and that solution has a profound impact on my clients' lives and business. You cannot put an 'hourly rate' on that kind of results-driven value.


How you value yourself on a personal level directly correlates to how much you will charge your clients. If you don't have a high enough sense of your own value, then you will not charge enough, you will not be able to sustain a solid business AND you will continue to undervalue yourself because you will only ever work with people who do the same.


How do I know this? Because that used to be me. When I first started my own business, and probably even before that, I completely undervalued myself and my impact. I didn't believe I had value for others, I didn't believe I deserved to be paid what I now earn for the value I provide. I was thinking and playing really small.


Not anymore. Now I get paid what I'm worth and because of that, I work much harder and care much more for my clients' successes. Importantly, results are now my focus, instead of just spending an hour with someone or getting a task done and expecting to be paid for my time.


So now I can help my clients do the same!


I use a proven system that enables my clients to firstly understand the actual cost of the service provision, and then to understand the VALUE of the output and results. Because these are two entirely different things.


What it costs to deliver a service (albeit this is partly determined by the price you put on your own time) is not the value of the service to your client.


As the adage goes; no one wants to pay for the drill bit, what they want to pay for is the hole it creates.


We also work on their impact. When you look at the specific s of exactly what you're going to do for your clients in any given scenario, it's not only the time you will put into it, (because actually your time to do something should be less the more experienced you are), it's the value of the output to the client and the financial impact those outputs can have to their bottom line.


Can you quantify the financial impact your services have for your clients? Try it. It's going to be massive! As long as you are operating from a results-driven mindset. As long as you believe in your own ability to deliver results!


Once my clients start to realise their own impact and the value of the knowledge and expertise they hold; then they start to increase their self-worth and confidence to charge what they're really worth. As a result, they make more money for less time spent and they feel so much more confidence about themselves too.


If you can help your clients to have a self-realisation about the pain they are experiencing and the impact it is having on their life, then you open them up to understanding the true value of the knowledge and capability you can bring to them.


Purchase decisions are often defaulted to 'price' - supermarkets have taught us that. But if you're offering a lifetime of value and specific tangible results, then the decision can be made on other factors, such as quality, experience, certainty and longevity. Most people are happy to pay for that kind of solution, especially when it removes their pain and positively impacts their lives and business in the long-term.


So, what are you offering to your clients? Are you offering them results-driven solutions and tonnes of life-time value? Or an hourly rate and tasks done? High worth service-based businesses are not created on the time it takes to deliver the service, but on the value it brings when you receive it.


TL;DR

  • How you value yourself on a personal level directly correlates to how much you will charge your clients. If you don't have a high enough sense of your own value, then you will not charge enough, you will not be able to sustain a solid business AND you will continue to undervalue yourself because you will only ever work with people who do the same.

  • I use a proven system that enables my clients to firstly understand the actual cost of the service provision, and then to understand the VALUE of the output and results. Because these are two entirely different things.

  • You never know just how much you're worth, unless you ask how much it's worth to your client to have the solution you provide.


Stevie V Brown coaches small business owners’ to increase their marketing know-how, build their confidence and create and implement a growth marketing strategy that attracts and nurtures more of their ideal clients and gets them paid what they're truly worth. Apply for a FREE Marketing Accelerator with Stevie and get crystal clear on the next 3 actions you can take to grow your business today.

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