I know “Charge What You Are Worth” sounds more like an ideology. All the dedication and troubles you went through to achieve the expertise today is not something to be toyed with. When you charge less it can belittle your services. On the flip side, charging too much raises questions about your ethics.
Have you heard the story about the electrician?
It’s a story about an electrician who fixed a big problem his customer was having in 5 minutes and charged him $5,000.
The customer took one look at the invoice and instantly felt rage, “$5,000 for 5 minutes?!?!”
On the invoice the electrician wrote:
– $5 for pushing button
– $4,995 for knowing which button to push
Now, don’t get me wrong, I know the electrician is not being professional and not stating why he is worth $5000, but it is the principle behind his mentality I respect.
Be the one with strong core values.
Charging $5000 for pushing a button can seem unlawful. The conflict between the desire for money and ethics is a never-ending war. If you fail to achieve the mindset of the electrician, your income level will always be the same as usual. No hopes for progress, no hopes for success. Undermining yourself will only be beneficial for your customers, but not for you and your services. This is how the inter-class division is created. Despite giving the most useful services, you are the one who is paid the least. Now imagine how unfair the situation is because you are afraid to charge what you are worth.
Now, who wants to change their fate? Who’s with me? Shout out for those brave souls who are willing to charge what they are worth, no matter how simple the service is!
These are few tips to begin your venture on setting your price:
1. Understanding your value:
Think of all you have learned throughout the years. How expert are you now? Were the hardships too much for you to handle?
Don’t let all the years of practice and experiences to be taken for granted! It’s easy to let your subconscious tells you to charge for your service, but it’s just wrong. The finer you get, the lesser time it takes. Where the point clearly proves your hard-earned efficiency, and all you can think of is charging for time. Strange reality! The path to understanding your value can be hard and time-consuming, but your services are worth the price.
2. Increasing your self-worth:
Self-worth is a reflection of everything you are! You can be all fussy about the charges for your service. Or you can be too weak to state your worth. Human beings have a tendency to chase good times and run away from pain. Although the complete concentration should be in attaining a rationalized mind and dealing with all situations actively. If you don’t understand the importance of all situations, it’s hardly unlikely that you will understand your worth. Concentrate on developing your values, make yourself worthwhile for everyone. Only then the path to “charge for what you are worth” can seem easy for you. When someone asks you to raise charges for your service, it’s more than obvious you get uncomfortable. You stick to the previously discussed fees even though it means you deserve more. However, when you are efficient enough, you will know what and when to charge.
3. Understanding the Client:
Don’t let the client manipulate you! Of course, they will want to settle for the least price possible! But will they be happy with less than average work? No, you know that better!
I am not stating to skyrocket your prices. Simply take the honorarium valuing the years of hard work. It’s also important you open up to your clients and let them open up to you. Understand the pros and cons of their problems in every possible way. Then judge what kind of service is to be given to them and at what price!
You can let the whole “charging what you are worth” point slip for the clients who aren’t well-to-do. There’s another level of peace and tranquility in helping others. However, don’t make this thing free for all. Appreciate your hard works and efficiency!
4. Fix values, not prices:
There are many service providers in the world whose main focus lies on the price only. Look at all the famous brands out there. These brands are restricted to posh people only. Would people like you and me choose those pricey service providers instead of a normal one with affordable prices? Yes, I know the brands are safe with some very unique services. But they are not consumer-friendly. So if you start something with strong values and incredible services, people won’t hesitate to pay you according to your services. Setting high prices for everything in the name of charging what you are worth is not cool.
A little tip? Explain to prospective clients why everyone should charge what they are worth. Once the client gets the point, others to do the same as well. The years of hard work and dedication can remove the class differences from the world. Your one step can make the earth a beautiful place.
5. Establishing Communication with Clients:
You are not related to your clients telepathically. You got to convey your messages straight to your clients. Asking for high prices without a strong reason can sound ridiculous to them! On the other hand, building strong communication with the clients can make their faith in you stronger.
Here’s a thing you can try….
Ensure clients that you understand what their problem is! Clarify to them how your service can solve their problems. Make them understand that you treat their problems with the utmost care.
Read more about how every solution creates another problem.
They will realize eventually; the person here didn’t reach this stage just like that. There were a lot of untold stories and struggles behind the achieved expertise. But look at the bright side! You are the savior of their problems!
You are saving them from a lot of future troubles and accidents. Only then, the clients will pay you for what you are worth and not by the time or easiness of your work. I know the path may be difficult and tough. In most cases, the client may not listen to your sob story. Just stick to highlighting the main points and convey your message!
“What if I am compared to a sly fox?“
While listening to the above electrician story, it did appear to be the ramblings of a cunning person! It’s just that the world is still not open to this concept. As a result, it’s not unusual for people to term you like a sly fox. Hey, don‘t give up hope! Input will not be equally valuable for all!
There will be hardships and pains in establishing your point. People may rebuke you initially for charging according to your worth, but one day they are going to realize the fact through their works! Be brave, sound convincing, mesmerize people! One day everyone is going to love you and your work!
“Asking for more money is so not me!“
There are some really weird sayings prevailing in the society like:
- Filthy Lucre.
- Money doesn’t grow on trees.
- Money is the root of all evils.
I am not saying the old man’s sayings are absurd. Of course, with money comes power, and the fight for power can brings some nasty deals. Whether you know it or not, the old man’s sayings are embedded in your mind like a parasite. Therefore, charging more money even if you deserve it seems too wrong!
So for you righteous people- For how long are you willing to provide service at a cheap rate? Don’t you want to change your lifestyle too? Don’t you want that dream car and live in style? Is it too much to ask for?
Your services are helping people, and it’s time you get rewarded for that! Do not hesitate to ask for more money! Get comfortable discussing financial aspects. Your work means everything to you. Create no barriers and hesitancy for appreciating your worth!
The Pricing Dilemma:
Are you thinking of increasing your rates now? What is the first thought that came into your mind? Is it a positive thought or a negative thought? What if in the path to charging for what you are worth makes you lose all your clients and customers?
Instead of thinking your losing all your clients, let’s discuss some tips that will release us from the pricing dilemma.
Tips for confidently stating your fact:
Don’t let people think the path to charging more is a path to accumulate wealth. Explain to them why your work deserves more than they pay!
Identify the thoughts that may hinder your cash flow! Don’t let these absurd thoughts manipulate your actions. Don’t let your soft side rule in business!
Highlight why your services can be a lifesaver for your clients! Then, charge accordingly!
Release the negativity from your mind before starting your work. Always remember the path to success is having a positive and clear mindset!
How do I understand my worth?
Try asking yourself the following questions:
- Are you happy with your current income?
- Is your service worth this change?
- What makes you stand out among other competitors?
- Do you believe your services and products make people’s lives easier?
- Why is your service unique?
This questionnaire will speak to you and let you realize your worth.
When was the last time you were happy with your charges for your service? Come on! Reflect your thoughts on “Charging What You Are Worth” and step out of the restricted box! Only then will you be able to make your world a better place.
Loo, I admit I have been wrong about prices when I first started back in 2010. I wanted my price to be a “no brainer” price to get customers coming to me in droves. The problem became that I was known as the “cheap” guy. So once I had that experience I raised my price. Sure, there was an initial push back but over the course of a few months I could see my customers evolving into the customers I truly wanted to help. It made me realize that I will work harder for the good paying customers. Which in turn means they are the ones to get the best treatment.
In the example of the electrician, the hours of training he’s had, thousands of systems he’s fixed and lessons he’s learned added up to him being able to fix this customer’s system in 5 minutes without breaking anything else!
That’s worth a lot.
So, the next time someone says to you “this person is so much cheaper” or “but it only takes you an hour”, explain to them the value of your experience and the results they will get because of it.
You will be happier with the business you built if you think about this story the next time you make a sale.
Do you want to talk about your prices and know for sure you are selling yourself for the right price? Then shoot me a message so we can tackle this together!