Giving Proper Value to Yourself

Image Credit: Lorna Jane

In recent consultancy dealings with people looking to build their businesses, there is a general hesitation in the people that we are dealing with to charge adequate or premium prices for services and goods. They feel that their time, effort and products are not ‘worthy’ enough of the price tag suggested. There is a fear that they aren’t as good as the others on the same market. However, these are often people will years of experience, attention to detail, a passion for their craft and a real enthusiasm to succeed in business. So, why do we undervalue our time? The reality is, if you undercharge for your great service, you will usually attract a clientele that do not necessarily appreciate quality, but will look around constantly seeking the cheapest service. Since these people are often not invested in brand loyalty, they are the most likely to cancel, rearrange and complain at the same time. However, if you set your prices at a premium, people will recognise the value of what you are providing, are far more likely to respect the time that you have allocated to the task and also recommend your great work to others. This is not just the case for business. If you perpetually make yourself available to friends and family to do whatever they request, laying no boundaries or limits, you may find yourself being taken advantage of – your time and effort not being valued or made a priority. This is not always the case, however if we know someone will ALWAYS be there, we don’t rush to see them and ensure that the time we set aside is free no matter what, do we? The central message is not to rip people off or tell people you can’t see them, but create appropriate boundaries and conditions in your life. Give people your ideal availability to see them, ask others in the industry to set your price point and follow through with that. Your time is valuable and you are valuable.