“People In Prison Do Time, Unless You Are Reading This From Behind Bars, You Don’t Want To Fall Into This Same Kind of Thinking.” – Dan Kennedy
As a consultant, it is easy to fall into the trap of charging for your time. After all, your time is your main cost of goods, so why not build a pricing model that marks up your costs?!
This of course is a very limiting belief about your services provided. People are buying the value you create for them, not your time. Your costs are irrelevant to them, all that matters is what they get.
Here are 12 ways you can create, demonstrate, and increase your personal Value instead of limiting your self by just selling your time… from Dan Kennedy’s exceptional book Wealth Attraction For Entrepreneurs.
1. Expertise – What You Know
2. Expert Status – What You Are Known To Know
3. Skill – What You Do
4. Productivity – What You Get Done
5. Efficiency – How You Get Done What You Get Done
6. Effectiveness – Opportunity Selection and How Well You Do What You Get Done
7. Organization/Multiplication – How You Get Things Done By Means Other Than Manual Labor
8. Influence – What You Can Get Others To Do
9. Relationships – Who You Know
10. Celebrity Status – How Well You Are Known By Your Target Audience
11. Reputation – What Others Know About You
12. Vision – What You See That Others Don’t
There is no question that every business action you take should be built around creating value and building equity. If you are just a day laborer selling your time, you can’t scale, you can’t have a profitable exit, and you can’t reap long term benefits from your efforts today.
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What a great list. Obviously you sell your time because you’re in business to make money and no one else would expect otherwise, but it’s a great point that you need other aspects as well as just the service you provide. If you make all of these clear to your customers and increase your value, then it will become the justification they need to convince themselves to work with you. It can really only work in your favour in the end!