I’m not talking about collecting on an unpaid invoice, though that’s certainly worthy of discussion. What I’m talking about is not giving your hard work away free.
John Jantsch of Duct Tape Marketing blogged on this very subject in his September 2014 post “How to Get Paid for Everything You Do.” He focused on value, a term that has a slightly slippery feel, at least to me, but which makes perfect sense in the context of his text.
What he says is that many new entrepreneurs and business owners don’t value their efforts “because they don’t have the validation that comes with landing high-paying clients.” They’re too eager, for instance, to participate in gratis “brainstorming” sessions. Or they fall too easily prey to requests for “discounts” or a “little price break because I’m a small business too.” (I’m embarrassed to admit that I tried that latter technique. Fortunately, my victim didn’t capitulate.)
What then, do you do, to get paid for your work? Mr. Jantsch has several good suggestions:
• Don’t speak for free. Waive your normal fee—even if you don’t have one or have never contemplated one —if you’re allowed to “very casually educate the audience on your services.”
• Deal. It’s o.k. to offer a “smoking hot deal” on your product or service if you get something that you perceive to be of equal value in return. I’ve got reservations about this one, frankly, around the “in return” part. You should be pretty doggone confident of your customer’s good faith before moving ahead.
• Barter. Ah. This is where a sense of value enters the frame. Both parties, I think, need to feel that the exchange is equal.
• Consult. A few years back, I was part of a group that offered pre-publication feedback on a book in exchange for a sneak preview and reduced pricing. What an excellent idea.
The idea behind all of Mr. Jantsch’s ideas is that “ … when someone gets something for free they value it far less than if they pay or exchange something for it. When you establish value ‒ what you do becomes more valuable.” When you price a product or service appropriately, you are well on the way to establishing its true value.
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