{"id":3889,"date":"2021-09-27T08:00:16","date_gmt":"2021-09-27T06:00:16","guid":{"rendered":"http:\/\/contattoblogs.timslatter.co.za\/?p=3889"},"modified":"2021-10-04T08:53:39","modified_gmt":"2021-10-04T06:53:39","slug":"charge-what-youre-worth","status":"publish","type":"post","link":"https:\/\/contattolive.co.za\/north\/charge-what-youre-worth\/","title":{"rendered":"Charge what you\u2019re worth"},"content":{"rendered":"

\u201cHow much should I be charging my clients?\u201d<\/strong><\/p>\n

This is a common question as we work with an increasing number of people setting up their own businesses. In the wake of a radical economic downturn, our creativity and necessity to generate an income spark new business ideas. The entrepreneurial spirit begins to take centre stage in the micro economy, and we have an awesome opportunity to create value for others.<\/span><\/p>\n

And this is how we answer the question. Because it\u2019s not about the fees, it\u2019s about the value.<\/span><\/p>\n

In our own industry, we\u2019ve learnt that our fees should be linked to our value proposition. Whether you\u2019re talking about products or professional services, there needs to be some benefit or value to the end-user. This benefit is measured by the difference that the product or service provider will make for the consumer.<\/span><\/p>\n

It sounds like a simple formula, but it can get fairly complex. We need to consider factors like experience, expertise and the need for the product or service that we\u2019re providing.<\/span><\/p>\n

There\u2019s an old story of Pablo Picasso, who, at the height of his fame and influence as an artist, was asked by a fan to sketch something for him. This happened when Picasso was out for dinner at a restaurant.\u00a0<\/span><\/p>\n

The fan gave Picasso a napkin to sketch on and said he would pay for the sketch. In fact, he supposedly said to Picasso, \u201cName your price.\u201d Picasso took a charcoal pencil from his pocket and quickly drew the image of a goat.<\/span><\/p>\n

He then said to the fan, \u201cThat\u2019ll be $100 000.\u201d The fan was astounded, saying, \u201cBut that only took you 30 seconds to draw.\u201d Picasso then crumpled up the napkin and stuffed it into his jacket pocket. \u201cYou are wrong,\u201d he said. \u201cIt took me 40 years.\u201d<\/span><\/p>\n

Another way of looking at this concept is to remind yourself that it\u2019s not the hour you spend in that meeting with your client; it\u2019s the years of experience you bring to that hour. Or, it\u2019s not the price tag of the widget you\u2019re selling; it\u2019s the hours of frustration it will save your customer – or the hours of joy it will bring them!<\/span><\/p>\n

When you start a new business, you will have a learning curve where you will need to adjust price, service, experience – all of it, but remember that it all starts with confidence in your value. It starts with being confident to charge what you believe you\u2019re worth. Price influences our perception of value. Experience confirms it.<\/span><\/p>\n

As a rule of thumb, always start higher. It\u2019s easier to negotiate down than to negotiate up, and, if you need to, you can always walk away if they aren\u2019t willing to pay you what you\u2019re worth.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cHow much should I be charging my clients?\u201d This is a common question as we work with an increasing number of people setting up their own businesses. In the wake of a radical economic downturn, our creativity and necessity to generate an income spark new business ideas. The entrepreneurial spirit begins to take centre stage in the micro economy, and we have an awesome opportunity to create value for others. And this is how we answer […]<\/p>\n","protected":false},"author":1,"featured_media":3900,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,27],"tags":[],"class_list":["post-3889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-market"],"yoast_head":"\nCharge what you\u2019re worth - Contatto North<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/contattolive.co.za\/north\/charge-what-youre-worth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Charge what you\u2019re worth - Contatto North\" \/>\n<meta property=\"og:description\" content=\"\u201cHow much should I be charging my clients?\u201d This is a common question as we work with an increasing number of people setting up their own businesses. 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