If you are working with a client and delivering a product or service that can increase their bottom line by 10% over the next 12 month period, what is that worth?

Let's say, for example, this client is doing $100,000 per year, and you know you can increase their revenue by 10%.

That's $10,000 more in their pocket in the next 12 months. And they will reap the rewards of the knowledge you are sharing with them for the rest of their lives. What is the value of the knowledge you are sharing with them?

You charge $150 per hour and work with them for 5 hours. That comes to $750. They are making at least $10,000 more per year, for years to come, as a direct result of a few small things you shared with them to help them improve their business.

Do you think that is a fair price for what you gave them?

Now think about the value of your product or service?

One of the big mistakes I see people making all the time is not valuing what they bring to the marketplace. They look at their "time investment" or they look at their "physical product". Then they base their price on those two things.

It doesn't matter if you are selling one audio CD or spending 30 minutes with a client. If you are making a difference in their bottom line, delivering value, and making a difference in their lives, you should be compensated accordingly.

But ... you must be very confident in the fact that you are delivering value. You must also have physical proof that you have delivered that value in the past.

It took me a while to grasp this concept of charging more, but after working with many clients and seeing the results they got as a direct result of working with me, I had no problem raising prices and charging more.

I spend countless hours researching, going to seminars, and doing anything else I can do to gain more knowledge that will help my clients in their business and in their lives. I study business, technology, and marketing as if I am studying for a masters degree. I am also in the trenches and have faced and overcome many of the challenges my clients deal with on a daily basis. That has value.

Think about what you are putting into your product or service. Are you getting paid what you're worth and are you delivering value? These two things go hand in hand. If you want to get paid what you're worth, then you had better be worth what you are being paid.

But keep in mind, you do not charge more for the sake of charging more. You charge more because you know without a doubt that the results your clients get far outweigh any investment they make in your product or services.

Be confident in the value you bring to the marketplace and charge accordingly.

 

To Your Success,