Establish Higher Value in the Minds of People You Meet

If you’re a new business professional, this article shares how you can establish higher value in the minds of the people you meet.

 

There are two key factors in business that establish the value of a product or service: Price and Availability.

While this may seem somewhat obvious, how well are you using this understanding to your advantage?

Before we go there, though, let’s take a quick look at what ‘value’ is.

‘Value’ is a word that we use to describe how much better we think our lives will get by having something. The more I think something will add to the quality of my life, the more I value it.

So that’s the basic foundation.

Next it’s important to realize that value is subjective – it’s different for everyone. This means that value does not fall into the realm of fact, but opinion.

Facts are black and white – they’re fixed.

Opinions are shades of grey – they’re changeable.

This means that the value of something changes depending on where a person stands.

Where a person stands in life, determines their needs – those things they value most.

So, when you first let someone know your pricing and availability, you help determine where they stand in relation to your value.

You position them. You determine how they pay attention to you.

(It’s important to note that we’re not talking about your value as a human being here, rather your value as a product/service provider.)

Let’s say that you are in a clothing store and you are checking out a suit and the price tag says $120. How does that affect the way you see the suit?

Now let’s say you realize that the price tag was partially covered and, upon uncovering it, you see that the suit is actually $1200. What does that do to your opinion of the suit now?

Suddenly, you might find yourself looking for all the ways this suit is worth $1200. You begin to notice the quality of the fabric, the superior stitch, the durability, the fine attention to detail in design and fashion.

Hmmmm? Would you have noticed all of this had you believed it was only $120?

I doubt it.

In this scenario, the price determined value in your mind and altered the way you saw the suit.

The degree to which you think something is valuable, is the degree to which you will give it your attention.

How might this help you in business?

Say you are a marketing consultant just getting started in your own enterprise. You are out networking and someone asks you what you charge. You know that some marketing consultants charge as much as $25,000/day and get it because their knowledge gets their clients’ results. But you aren’t sure that you’re in their league yet. How much do you think you’re worth? $250/day? $500/day? $1000/day? $5000/day

How will you answer their question?

Aim high. Reveal a price you want to be valued at – even if it is a bit uncomfortable for you. Do you believe that you would eventually charge that someday anyway? Why not today?

You know that your knowledge can help them. The only thing that causes you to doubt your value is the fact that you are new to the industry. Don’t let ‘being new’ undermine the value of your knowledge.

Would it be unreasonable for you to say $2500/day?

Keep in mind that you are not negotiating a contract here, you are establishing a position in the mind of the person you are speaking with about the value of your knowledge and your ability to deliver it.

Remember the suit? You looked at it differently when you realized its $1200 price.

People will look at you differently when they realize your evaluation. They’ll more readily assume that you are be able to help them get results.

People hiring you at this rate will value your guidance more highly, pay closer attention, and take more action. Hence, assuming you know your stuff, your clients will actually get better results than if they had paid you less. They’ll be thrilled!

Even if you end up offering to work for them for only $500/day, in their mind, they still got a $2500/day marketing consultant for only $500/day. They’ll be thrilled!

Ah, the magic of positioning.

In addition, when you limit your availability to them, you also increase their perception of your value – while simultaneously maintaining better control over your own schedule.

See if you can’t play with this concept when you are out networking. Do it as an experiment. If people ask you what you charge, quote a figure that is double your current rate and see what they say. You may just begin to attract higher-paying clients.

 

© 2014 Trent Janisch – thepoweryouare.com

 

Thank you for ‘liking’ and ‘sharing’ this article.

 

I love reading your comments! Thank you for sharing below.

Leave A Response


Warning: Missing argument 2 for Jetpack_Subscriptions::comment_subscribe_init(), called in /home/trentj26/public_html/thepoweryouare.com/wp-includes/class-wp-hook.php on line 286 and defined in /home/trentj26/public_html/thepoweryouare.com/wp-content/plugins/jetpack/modules/subscriptions.php on line 602

* Denotes Required Field