[Think Like An Entrepreneur Thursday] Ep. 12 Setting Your Value and Understanding Your Worth

starting a business | Dec 04, 2017

 
This is one of the few things where I'll recommend that you should be thinking more like an employee than an entrepreneur.  When we're employees, we understand our value, and it’s very rare where we will settle for anything less.  Usually, if we're job searching, it’s because we are
pushing for more.  Yet for some reason when we switch to an entrepreneur, we're afraid to ask for what we know we are worth.
 
Here are some tips to help you set your value so you can stand strong in asking what you are
worth.
 
1. Your unique selling proposition (what makes you stand out) should never be the cheapest.You end up attracting people who don't value you.  There's never been a time where someone has gone in cheap, and they suddenly have this epiphany 6 months later that you're worth more and they should pay you more.  The cheap ones are usually the biggest
pain in the butt clients, they make you work the hardest, and the ones who never really appreciate you.
 
If you go this route, you'll end up burning yourself out, and not work with the customers you want to work with.
 
2. If you’re just starting, it’s okay.  What typically happens is that you are worth more than you think you are.  You know more than you think you know.  We always focus on the things we love.  Even though its second nature to you, you can do it in your sleep.  Think about how long it took
you to learn that skill.  How long did it take you to learn that skill?  If you can shave time off someone's life of figuring it out, that's a lot of value.
 
Instead of going in as the cheapest, you can go in and offer at the same price, but figure out how you can bring more value to the table.
 
This is the time when you need to stand tall on your worth and value.  Use the employee mindset.

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