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How much are You worth?

The past year has been difficult for everyone, except perhaps Zoom shareholders. As we start to come out the other side of this, the confidence of many has been shaken causing them question their value. If you are a business owner selling products and services, do you get what you are worth? Most people will answer no to this question. They believe that their clients do not value their services and won’t pay what they are truly worth.

Here is a calculation you can make. Write down what you believe you are worth. Then on top of it, write down what you actually get paid. To make it simple, this could be your chargeout rate or your average gross profit margin. Now divide the top number by the bottom one and multiply by 100. You have just calculated your self belief quotient.

Almost no-one scores more than 100% for this calculation, and most score a lot less. In other words, as a general rule, you will not get paid more than you think you are worth, and mostly you will be paid considerably less.

So if you want to increase the amount you get paid for your products and services, you must do two things:

1. Increase your own estimation of the value of what you provide
2. Be able to demonstrate that value to your potential buyers.

If your self worth quotient is significantly less than 100%, it is because you have failed to demonstrate your true worth to your buyers, so you must work on the second point. If you are achieving close to 100%, it is probable you are undervaluing your true worth. Work on the first point followed by the second point.

To increase your prices, you must not only be convinced of your higher value, you must be able to demonstrate that to your buyers. They will not voluntarily pay you more.

The key test is to answer this question with brutal honesty:

Would You Buy You at the price you would like to charge?

To learn more about this topic, join me for zero cost training when you register here or listen to an interview with me here.

May Your Business Be – As You Plan It.

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Dr Greg Chapman – The Profit Whisperer

Learn more about how these marketing strategies would work in your business when you request a Free Preview copy of the best selling Small Business book; The Five Pillars of Guaranteed Business Success

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