Are you being paid what you’re worth? “The entrepreneurial dilemma … what’s my worth?”

Are you being paid your worth?
“The entrepreneurial dilemma … what’s my worth?”

Your worth all begins with you … the value you provide to achieve the results someone is looking for and needing.

 “Price is what you pay. Value is what you get.” – Warren Buffett

If you don’t know your value, how do you know what price should be applied to your services
or products?

How many times do you find yourself quoting a price to a potential client, hearing crickets, then
suddenly begin the discounting dance just to win the new client? I’ve seen this pattern way too
often … in the corporate and in the entrepreneurial world. What it all boils down to is this one
question …

What is your value?

Your value is determined by you and for you. You value is one part of any pricing equation
when it comes to your services or products. As you understand and acknowledge your value in
the pricing equation, the practice of discounting will diminish or be accomplished in the correct
way. (Yes, there is a way to discount without giving it all away or seeming cheap.)
Let’s start here with your value or another word we’ll use for this is worth. Here are three areas
to consider as you approach determination of your worth.

The Process of Determining Your Worth

Decide what your work is worth to you
If you were your own client needing exactly what you offer, how much would you be
willing to pay? What would you receive from this investment? When you are looking at
your worth, this is the place to begin. As you answer these questions, you gain clarity on
the value of your offer whether that offer is a service or a product. Write down that
price point.

Do the research
Google others in your industry with similar products or services. What are they
charging? How do their packages or products/services compare to yours? Doing this
comparison and research is not to say ‘set your prices similar to others in your market’.
It’s a leveling point for setting your price. The biggest key is to determine your
uniqueness … that one thing that sets you apart from the competition. Write down your
uniqueness.

Consider your investment
What is the time, energy, work that you put into your offering? Capture all the hours
you have put into providing what you provide in your offering. Capture everything. Be
sure to include marketing, training, contracted work, administrative work. Write down
those hours.

Doing this deep dive creates an awareness of who you are, what you offer, and how much value
you bring. This is a beginning point to owning your worth and pricing to reflect your value.

Yet, you may hear yourself saying …

“I feel guilty about what I charge people.”

You are not alone. Tons of people — including successful entrepreneurs & small business
owners — have an emotional reaction in charging for their services and most especially in
setting price points that truly reflect their value.

Why do we feel guilty?

In my experience, there are 3 main reasons people feel guilty about what they charging:

1.  You don’t feel worthy or realize the value of your skills to others. In other words, you
don’t’ acknowledge your awesome talent saying “it’s nothing special.” But others see it
as very unique and valuable, and they’ll pay to learn from you or get your help or buy
what you have to offer.

2.  You don’t feel qualified as an expert. You always feel as if you need more experience,
accolades, or certifications. You are always feeling as if you are not enough for anyone
to want to purchase what you have to offer.

3.  You’re afraid of charging friends (or friends-of-friends) as this will damage
the relationship. People will not like you let alone trust you enough to buy from you.

How can you get away from this type of negative thinking? How can you charge
even more money, knowing you fully deserve it?

Begin with you … as it is always about you.

The bottom line:
      “If you don’t know your value, somebody will tell you your value. And it’ll be less than you’re
worth.” –Bernard Hopkins

If you don’t know your value and own your worth, how will anyone else know it? It call comes
from within you. When you can own your value, having those pricing conversations will
become easier and more natural. When you own your value, you begin to attract the type of
clients/customers that you want to have and not the ones you need to convince to work with
you.

About the Author, Denise Hansard:

To get the full skinny, join Denise Hansard at the   
Wisconsin Business Owners morning workshop on Friday, September 27th.

In The Art & Science of Pricing program, Denise will help you to take deeper dives into how to determine your worth with her 3 E’s, the 5 P’s of pricing, what your Sweet Spot is and so much more. This program will be interactive along with having exercises for you to take the next step in your pricing worth.

RSVP at https://www.meetup.com/wisconsin-business-owners/events/264210408/  Please register before 5pm, Tuesday, September 24th.

***ITINERARY Friday, Sept 27, 2019***

9:30 Registration & Open Networking
Ful Coffee Bar, including juice, water and bakery included
10:00 Presentation by Denise Hansard
11:00 Open Networking, coffee bar…followed by our Lunch & Learn at Noon

Noon:  Wisconsin Business Owners Lunch & Learn.  Register separately for the Lunch & Learn at https://www.meetup.com/wisconsin-business-owners/events/264238651/