Worth Every
Cent
By Brian Norris
When I was growing up $500.00 was a lot of money. My mother, a real estate agent, and my father, a chef, would work 50, 60, 70 hours a week to earn money so that our family of six could make ends meet. I was amazed at what $500 could buy. All those groceries, a beautiful home with a yard and Friday nights at Padrinos, our favorite spot for roast pork, yellow rice and sweet plantains. And all along, I admired Mom and Dad, hoping quietly that someday, I too would earn $500.
Well, it's two decades later, and $500 isn't nearly what it used to be. One trip to the grocery store and paying a single cell phone bill is all it takes to remind me that I shouldn't be ashamed of charging my clients a fair price for my marketing and positioning expertise. Quite honestly, it took me years to accept the simple but sometimes elusive fact that I am worth every cent that I charge.
And I'm not alone. Maybe you're reading this right now, shaking your head begrudgingly, thinking about all those times you've charged too little for your services or products just because you lacked the chutzpah to defend your prices and the benefits you deliver to your clients. Whether you're an entrepreneur, a sales professional, or the CEO of a Fortune 500 company, the only way you can stay out of the poor house is to acknowledge that you too are worth every cent ... and then some.
Let's take the service providers. I am constantly advising business owners to avoid the trap of working for peanuts. The sad reality is that many businesses (new and seasoned alike) still believe that $100.00, $200.00, $500.00 an hour is a lot to ask. And some buyers (those who don't understand all the time and effort that goes into preparing for a presentation or the amount of sweat it took to develop your exact level of experience and expertise) are more than happy to allow these individuals to believe that their assumption is absolutely correct.
Here are the facts:
1. You can't put a price on your ability to empower your audiences to move beyond a plateau or limiting belief system. What's more, as an expert who speaks you are enriching lives and giving people the skills to become more successful in their industry. Conversely, if you aren't an expert in your field, not only should you not be charging a single cent, but you also have no business on the platform.
2. By charging bargain basement prices, you're not only hurting yourself, you're damaging the credibility of the entire industry. Also, the moment you begin to discount yourself on a regular basis you erode your fee integrity and become relegated to the status of 2nd class merchandise.
3. Most businesses derive a great part of their income from being actively involved in running a for-profit business. Our fees are derived not just on the time spent in front of an audience or prospective buyer, but the experiences, insights and stories that we have to share with our audiences. These fees also have as much to do with how we communicate those attributes with the audience to achieve the goals of our clients.
4. Inevitably, you get what you pay for. Purchase a $20.00 widget and you chances are you'll be in the store next week buying a replacement. Purchase the services of a qualified expert who knows what they're talking about and knows how to produce real results and you'll get your $5,000 investment back in no time flat. Furthermore, I never want to be known as the cheapest of anything. Do you?
If you aren't charging what you're worth, follow these principles. Learn to walk away from the bargain-shoppers who live solely to strip you of your fee integrity, pride and passion. Talk privately with colleagues, mastermind groups and experts who serve similar niches. Base your fee on the value you bring to an organization. Look at the concrete benefits which you provide. Come up with a fee schedule which you update annually and stick to it.
Whether you charge $2,000 or $200,000 for your services, be proud of what you do by delivering what you promise and representing the very best in your industry. Stay on top of your field by constantly consuming cutting-edge industry information on your area of expertise. Exercise creativity in your marketing, image development and content delivery (don't steal other people's material or titles). Most of all, be proud of the fees you charge and the lives you inevitably change. You are worth every cent.
Brian Norris is a professional speaker and author of The Creative Sales and Marketing Manual and Escape Life Sucks Syndrome. He helps individuals to live with passion and positivity. He helps companies to improve morale, lead better and market their products and services more dynamically. You can reach Brian by emailing info@BrianNorris.com or calling 414-899-1905.