I was talking to a colleague of mine yesterday and you know, we were commiserating about client experiences we have had, where we have done a great job, no not great, but beyond great job and the client then went and offered us a fee that was practically insulting.
He told me a story about a doctor who saved a patients life and sent the patient a bill for $100,000.00. The patient was upset because he only spent 15 minutes with him and asked for an itemized bill. What he got was this: Hospital Stay: $ 5,000.00
Knowing where to cut: 93,000.00
Now, I know this is just a story, but it does illustrate a point. We each have our area of expertise and should be well compensated for it. If you do something better than others, there is a value that doesn’t equate to how many hours put into a project, but the value of the completed project.
So, today’s tip really has more to do with knowing your value. If you undersell your service, you are actually setting yourself up for a loss. Your clients will know they are not properly compensating you and will actually not treat you well.
Don’t be afraid to ask for what you are worth!