Posts Tagged ‘value’

If you’re like most women entrepreneurs you may have a hard time charging what you’re worth.

Want to eliminate self-doubt so you can confidently charge more?

Here’s something to think about…

If you are focused on features rather than benefits, you’re focused on the wrong thing. Instead, I want you to focus on the results and the impact that it creates.

I recently submitted a proposal to an international company to coach two of their executives. The proposal was focused on benefits and the impact my coaching will have, not only on the two people being coached, but of the ripple effect that will be felt throughout the company.

I’m being hired to provide a service that is going to make a dramatic impact for many people. Because of that impact, I am confident in what I’m doing and its importance to the overall success of the company.

Because of the above, I confidently charged what I am worth…and got it!

Want to be able to confidently charge what you’re worth and get it?

Then start focusing on benefits.

Fees are based on value, not on your time, which has no value to the client. You can always make another dollar, but you can’t make another minute ~ Alan Weiss

Charging what your worth is less complicated than one might think.  It boils down to two concepts.  First, know the value of the results you deliver and second, know what you’re worth.

But for so many entrepreneurs they find the task of  charging what their worth  daunting.  Why?  Because they are focused on the wrong thing.

Instead of focusing on value, they are focused on benefits.

So how do you switch the focus to the VALUE of the results you deliver and away from benefits?

Here is four simple but powerful questions you can ask your clients to  uncover  and reveal the value of the results.

1.  What will the outcome mean to you and your business/organization/family?

2.  What is this worth to you/organization/family on a annual basis?

3.  What is this costing you/family/organization in not getting help in achieving these results or in not taking care of this problem?

4.  What does this mean from a qualitative/quantitative perspective?

These questions are going to help you get the heart of the matter for your clients and help reveal to them the importance of solving the problem they are faced with.

When asking the questions remember to be patient and persistent.  You are looking for good, quality, detailed answers NOT answers full of fluff and air.

Asking these questions will make you look like a super star genius in the eyes of your clients as you uncover the truth behind their problem.  Ultimately, this makes getting to a “YES” decision that much easier.

Practice them, try them on for size and let me know if it’s helping you focus on the RIGHT thing!

I love when someone pays attention to me, don’t you?  Well, money is the same way.  Money likes to be shown the attention and respect it deserves.

So what happens when you ignore money? Not sure what I mean? Jot down the answer to these couple of questions and keep them in mind as you keep reading:

• Do you pay your bills on time?
• Do you allow clients to waffle on agreements and pay you late?
• Have you developed a budget and stuck to it?

Well, unless you answered positively to all of the above questions you’re more than likely ignoring money and asking it to leave you alone.

Here are two quick tips for paying attention to money so that it doesn’t find a negative way of getting your attention.

1.  Stick To A Budget and Pay Your Bills On Time

When you develop a clear budget you give money the attention it deserves.  First, you have a clear understanding of your current financial situation and second you now are in a position to establish a saving and spending plan based on a full and complete awareness of what you make.

Once you can see the big picture it is vital that you pay your bills on time every month.

Paying your bills late or inconsistently is scarcity behavior and does nothing except to perpetuate that feeling.  Instead, pay each bill on time, at the same time every month.

2.  Always Focus on Value

People love to say the economy is the reason their business isn’t thriving.  But the fact is, your clients will buy from you IF you provide them with valuable information, services and programs that meet the needs that effect them most.

There are a limitless, ok maybe not limitless, but there are at least 10 ways that you can provide new value to your clients and when you do they will be happy to purchase from you.

It’s your job be creative and introduce these new innovative programs, products or services to them.

So, get your thinking caps on!

As many of you know I run a women’s only networking organization and we meet several times a month to network, build relationships and engage in joint ventures.  Often during my conversation with many of these women they express their frustration about charging an appropriate amount of money for their services.  Typically I hear this from women who are just starting out, but often times I hear it from veterans as well.

When I probe deeper and ask why they are charging so little for their services they tell me its because they are new in business, or they don’t have a certain certification.  They feel they are often in a position of convincing the prospects to hire them despite their limited experience.

Now my question is how do they know you have limited experience?  More often than not, your prospects will only know the answer to that question if you reveal it.

Aligning your pricing with your value and attracting a slew of great clients does not mean you need more certifications, have a high degree of experience, or that you put in more time than someone else.

What it does mean is that you clearly define your target market and then provide the solutions and clearly tell them that you can solve their problem.

Value based pricing has more to do with these two issues than how long you have been a coach, organizer, or wedding planner.  Focus on the value and your clients will gladly pay you for solving their problems!

How do you feel your value?  Do you know where your value comes from?

Your sense of value doesn’t come form other people it comes from within, from deep down in your core and emanates out of you in a way that people naturally respond to.  Value coupled with clarity of purpose and decisiveness creates phenomenal confidence and results in your life and your business.

One of the ways that you can “feel” your value is to practice saying the following:

What I value in myself is….

Completing the sentence throughout the day gives you multiple opportunities to create a deep felt sense of your value.  Complete it in every situation throughout the day.  You  will begin to feel your sense of value like you have never felt before.

When you are on Facebook, LinkedIn and Twitter as well as the countless other sites that are available for social media marketing do you know the unspoken rules of etiquette?  Do you understand what NOT to do?  Do you realize the mistakes that most newbie’s make?  Every day I see people breaking the rules of on line social networking.  So this article is devoted to making sure you don’t make these dreadful and sometimes costly mistakes when you are trying to grow your business on the world wide web.

1. Spending Way Too Much Money or Way Too Little

You know the old saying “You need to spend money to make money”. Well this is true, but you need to spend your money wisely.  Nothing is different just because you are marketing on the web.  You need to develop a solid marketing plan and corresponding budget that fits into the overall goals that you are trying to achieve.  NEVER and I do mean never buy leads…but also realize that you need to make some investment if you want to see results.

2. Insisting On Doing It Alone

The most successful entrepreneurs are the ones who’ve worked with a coach, mentor or joined a education and support group like a mastermind.  Unfortunately, many new entrepreneurs and business people make the mistake in believing they can do it alone.  Don’t make the same mistake!  Hire a coach, join a mastermind, or work with a mentor who can make your journey towards success smoother and faster.  These people and resources can shorten your learning curve and have you making money faster than going it along.  Not sure what option is the best for you and your business?  Contact me at maureen@daretobephenomenal.com and I will help you sort it out.

3. Thinking Like An Employee Instead of An Entrepreneur

Most of us worked for someone else at one point in our careers.  And because most of us came from that place we sometimes forget that we are not employees anymore but rather masters of our own destiny.  We are the decision makers, the movers and shakers.  We don’t have to answer to anyone…we make the rules!  But with that comes the responsibility to make it happen.  Set your goals, prioritize your work, get serious and self-disciplined and know that success won’t happen overnight but with consistent effort success will be achieved.

4. Posting Without Permission

The other day I opened my Facebook profile and to my horror someone had posted the link to their website on my profile page and never once asked me if it was ok.  It wasn’t and I immediately deleted it.  This is social networking spamming and if you engage in this type of behavior its business suicide.  Your profile is for posting great stuff about your business…my profile is for posting great stuff about my business.  Now that doesn’t mean that you can’t ask people to help spread the word about a new product or service that you are providing.  But you must ask permission first.  Failure to do so is just plain rude.

5. Not Being Yourself

There is nothing worse than when you can feel how inauthentic and disingenuous someone is being.  People can sense when you are only concerned about yourself and how much money you stand to earn.  It is a real turnoff!  Be authentic and genuine as you network with people on line.  Find out how you might be able to help them.  Remember what Ivan Misner, CEO of BNI taught, that “Givers Gain”.

6. Not Making About The Value

No one cares what you do.  Really they don’t.  What people care about is the value of your product or service and how it can improve their business or life.  But often times I read on Facebook about some ‘amazing new opportunity’ and I think…ugh…when will they ever learn?  Real value is about sharing your knowledge, tips, strategies, great content or anything that will actually be of benefit to someone else.  The person who provided the most VALUE will be the front runner…plain and simple.

7. Make Your Personal Growth Your Number One Priority

In order to be successful you must make your personal growth a priority.  Successful people are not afraid to seek out situations and experiences that challenge them beyond their comfort zone.  Being successful as an entrepreneur, which means by the way making great money doing what you love, requires that you frequently fall outside of your comfort zone.  In fact, frequently feeling uncomfortable means that you are stretching and growing!  Being successful means that you don’t shy away from these opportunities to grow but rather you embrace them. In the end, you will be successful and will have grown tremendously in the process.

By following these 7 tips you can be more successful with both your online and off line marketing.  In the end remember to be yourself, embrace the challenges and be persistent in your efforts.