Here we are, it’s Black Friday!
A day for madness and insanity. A day consumers go out and prey on the ridiculously low prices offered by retailers so they can kick off the Holiday season with a bang.
It’s a day that makes me extremely grateful for the internet so I can make all my necessary purchases without having to leave the house!
For one day, stores and brands compete in a race to the bottom to attract the attention of shoppers focused on getting the “best deal”. I would argue it’s a day where price is more important than the value the company behind the purchased product actually brings. Bottom line trumps brand loyalty.
It’s a day when retailers greatly devalue their self worth.
This is a problem I’ve dealt with most of my life. It started when I was playing professional baseball.
As a professional athlete, you’re constantly competing for attention. You’re constantly judged by your “stats”. Your looks and measurements can be your best friend or your biggest enemy. Every day, your value is weighed against your competition, which leads to your biggest competitor of all, self worth.
I stood 5’9. I weighed 165 pounds. I didn’t have an overpowering fastball. I wasn’t a high draft pick.
Yeah, you could say self worth was an issue for me.
Unfortunately, my battles with self worth continued long after my baseball career ended.
In business, I often made the mistake of devaluing the expertise I brought to my clients. I was afraid to charge more because I was sure the client would say “no”. I didn’t feel I was worth the price others were telling me to ask for.
What did it get me? Frustration, long days, and little pay.
If you’re out there right now struggling with your self worth, I’m here to tell you that you are valuable! If you are bringing expertise and sound advice to your clients; if you are helping change lives; you deserve to be compensated for it.
But when you’re afraid to charge more for fear of being turned away, you actually water down the value you bring.
The less customers have to pay for the services you provide, the less they place emphasis on the value of those services. You’re nothing more than the retailer, post-Thanksgiving, offering the “Black Friday” deal. The lower the perceived value, the easier it is for the customer to shop elsewhere. The less loyal they are to your brand.
This isn’t a message meant to degrade your business practices. It’s a message meant to tell you that you’re worth more.
Your clients are extremely grateful for the expertise and guidance you provide to them. Without you, they would be lost. They need you. They want you to value YOUR OWN services as much as they do!
Now, let me be clear about something…
This isn’t a declaration to go out and charge more just to charge more. You better, damn well, make sure your value matches the additional compensation you’re about to ask for.
I see WAY TOO MANY retailers, coaches, and service providers out there today focused on monetizing everything and everyone. They’ve turned business into a mathematical formula where what they charge is predicated on the revenue they wish to receive and not the value they’re failing to bring. Inflated prices backed with little value will NEVER lead to long-term success. However, charging too little won’t help you win long-term either.
Bring as much value as you can Every. Single. Day.
When you focus on the content coming out of your mouth, the revenue in your bank account will take care of itself. When the value is there, your prices can increase accordingly.
Take it from me, you’re worth more than the frustration, long days, and small paycheck you’re dealing with today.
So go out today and take advantage of the amazing deals Black Friday brings. But, more importantly, go out today and do everything you can to maximize the value you provide. Your emotions, your calendar, and your bank account will thank you.