(The Barefoot Executive Carrie Wilkerson posted this today. It's On the Money – Thanks Carrie)
Are You Charging What You Are Worth?
A woman in Paris spots Picasso in a cafe. She begs and pleads him to sketch her…he finally relents, whips out his pad and draws a sketch of her.
She’s delighted. “How much do I owe you?” she asks.
“$5,000,” he replies.
“$5,000!” she exclaims. “But it only took you 2 minutes!”
“No madam,” he replies. “It took me my life”.
>>>This is what your clients are paying you for…not your time, not your ‘effort’ – rather, your WEALTH of experience, knowledge, information and networks which you have built up over YEARS of study, practice, failures, successes and experience.
You are valuable.
I am valuable.
We are worth the price tag.
Have you been tempted to undercharge? Have you had to apologize for price structures? I’d love to hear from you below if you have and how you have beat that mental block.
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Thanks for the reminder in this example of the woman in Paris and Picasso. Being in our own skin, we don’t often realize that the bumps and detours of life, even those things we may consider “failures” also contribute to our honed sense of prudence, wisdom and perspective which is hard-won and worthy of remuneration. I try to ask God what is fair pricing and follow His will. Sometimes, in special cases, he advises a discount or even no charge and i comply. He knows what He’s doing. He also has taught me that, in general, NO charge often means NO respect for the value/worth of the service. This surprised me back then, but is consistent with human nature. I was surprised to learn that people were actually MORE appreciative when they were charged appropriately. They want to feel they are getting the best and a fair deal. Cheaper can make the client feel like he/she may not be getting “top quality,” and sometimes engender lack of respect. Charging fair market value is a good general rule and a win/win for both parties.