You are doing nothing but: selling money.
“I’m not selling money, I’m not a banker!” — you say to yourself.
And anyway, how can you sell something that is itself a currency?
It may be easier to get the Loch Ness monster to take a selfie than to understand it at first.
This is all much simpler than you think, but it is certain that after this you will look at your work and — drum roll — money as well.
Perhaps only after this will many people really understand why what they do is so valuable, and above all, how much the expertise that they put to use every day and make the world a better place is actually worth. Sit back, an exciting journey awaits.
What you are currently doing, which is your profession, you do because you are good at it, maybe you even like it (If not, then it is time to think about changing, there is no point in doing something that does not bring you joy) And since you are good at it and you love it, you do it more and more and better. This is called expertise. You can be a real estate expert, graphic designer, coach, translator, or almost anything else.
Your expertise — and of course your attractive personality — is why your clients come to you. So far, I don’t think I’ve said anything new. Well, fasten your seat belts now, because there are facts that will change your way of thinking.
Expertise mostly means that you create something faster and more efficiently than others who do not have the same expertise. The real reason, however, is that you facilitate his work with your work and expertise. This way he can generate more profit.
Let’s take an example: you are a copywriter. Your new client asks you to write text for his new website that promotes conversion, so he gets more customers from visitors to his new site. That way, the job — which you took on for, say, $10K and thought you did extremely well — you can be sure that your client earned at least $40–50K from your work. So, in the end, you sold the possibility of better income, so you lose money.
I will also help you to be able to sell even more money and thus earn more.
Action 1
Be bolder. I hope that you now see the value that you create differently, and that you thought that anyone could do it, even for much cheaper.
Since you already know that someone else will make money with the results of your work, and a lot of it, I recommend that you rethink the process of how you have priced your work so far.
When I started branding, I constantly watched and took as the most important information how much someone else, who is also involved in the same business, would pay for it. So that I don’t end up being more expensive and my future client says no to my offer. This is the recipe for a perfect fall.
Forget that now. The price you ask never depends on what prevails in the market. You can be pretty sure that Bentley doesn’t ask Nissan how much it costs to produce a car either. I guarantee that. And you will never ask!
Action 2
If you have already managed to put down your old way of thinking — it took me a while, I hope it will go faster for you — then I will also help you with how to price.
So far, you have priced your time. If you wrote one page of text in one hour, the hourly rate is approx. $100, then 2 pages cost $200.
Not. In fact, not at all.
It’s not the quantity that matters, and especially not the time.
I will also tell you why.
Here’s another example: Let’s say you go to the doctor because you have back pain.
Why would you pay more if you could heal it in an hour or a week?
(This is the question you’ve never thought about before, but you should have.) Got it?
I will continue this line of thought even further. You will love it.
So, let’s say you’re damn good at your job and write that text super fast. This means that your customer can use what you gave him even sooner. So you can generate even more income.
It’s cliche, but time really is money.
Action 3
This process has a kind of depth. What am I thinking during this?
This process can work on several levels. Low-medium-high.
The better the quality of what you provide, the more it is worth, so the more value — newflash MONEY — you generate. What makes this process even more interesting is that if we continue along this path, we can also notice that our expertise rises to a very high level while producing high quality. So we can create an even better one in a shorter time.
Thus, we did not double the income, but squared it.
Conclusion
When I came to the end of this reflection a few years ago, I learned 2 valuable lessons that radically changed my entire attitude and — now you will be surprised — my income as well.
The first:
- start looking for opportunities to improve. It can be seen everywhere, at every step. Remember, the average sushi chef only learns how to cook rice in the first 10 years!
So give yourself time to raise your expertise to a new level and truly become its master. But you are not different because of the income, primarily. But because of you. You will be extremely proud, and this is a fuel in the rocket of motivation that will give you almost infinite power.
The second:
- your relationship with your client will reach a completely different level. After that, you will not only want to work for them, but with them. Together in the whole process. Precisely so that the quality you created can live on even longer, and your client can produce at least the same or even better things for their clients. This is a real win-win situation.
And that’s what I love most about it!
Levi