1 Realise your true value
Understanding your own value is the first step to charging what you're worth. To do this, you must reflect on your expertise, which consists of your professional qualifications, continual professional development and experience.
It's very difficult for you to see how valuable this is, because you take it for granted, you've done it for years. This is called being "unconsciously competent". You do things automatically without thinking that much and therefore don't place much or even any value on it.
You must review this regularly because, as you continue to develop your skills, you become even more competent and probably faster, so if you're charging for time, you could actually be losing revenue.
2 Understand the customer's "pain"
What are their problems? To find out, ask them key open questions (ie ones that can't be answered with a simple one-word answer). Begin your questions with 'what', 'where', 'when', 'how', 'who' or 'why' then let them answer without interruptions, prompting or leading.
Find out what "pain" they are experiencing and how extreme it is. The greater the pain, the more likely they are to use your services and pay you what you're worth. You need to find out what solving the problem will be worth to them and cost them if it's not resolved.
3 Increase your self-worth
Self-worth is at the heart of everything we do and it drives our behaviour. Humans are motivated by pleasure or pain. We either move towards pleasure or move away from pain. In a business context, if you don't feel 100% worthy, how can you possibly charge what you're really worth?
If someone tells you to raise your fees, it makes you feel uncomfortable and you move away from whatever is causing that discomfort. You stick with the fees you currently charge – even if that means not getting paid what you deserve.
4 Focus on value not price
If you focus on price, so will your clients. If you don't first demonstrate the value of what you do, prospective clients will likely regard the quote you give as high, no matter what price you offer.
You have to get them to shift from looking at the price to seeing the value of it. Once they understand the value, the price you quote will actually seem relatively low.
5 Communicate your value to customers
By ensuring customers know exactly what they'll be getting for their money, they're much more likely to do business with you and pay you what you're worth. Very often people fail to communicate their value effectively, usually for three reasons: they don't understand their own value; they make assumptions about the client's understanding of the value; or thirdly, they're uncomfortable doing it.
6 Get comfortable talking about money
Many people are uncomfortable talking about money, quite simply because they have negative beliefs about it, such as the following:
- Money is the root of all evil.
- Money doesn't grow on trees.
- A fool and his money are soon parted.
- I don't deserve to be rich.
It's likely that these have become embedded in your subconscious mind, they've become beliefs and are therefore negatively impacting on your thoughts and actions around money. So it's imperative that you change your beliefs about money, otherwise it will be impossible to charge what you're worth.
Take the first step to charging what you're worth by ordering your complimentary copy of my book, True Worth.
Copyright © 2015 Vanessa Ugatti – The True Worth ExpertTM.