Entrepreneurs struggle to value themselves. The trending attitude in culture says that selling is stealing. To charge for what you sell is to take advantage of the buyer.
Here are 8 reasons that attitude is dead wrong.
1. Your own Values and Ethics
If you doubt your value, that is by nature an ethical question. Having that doubt is a GOOD thing that says you are ethical. You doubt because you care. You are not the type of person who will take advantage of your customers or your team.
That is good.
You can still charge more for what you sell, and still be fair while doing it.
Charge more. Be fair.
2. No Exchange is One Dimensional
There is no such thing as a sale that only helps the seller. The buyer is getting something he or she needs or wants. The seller is getting money to feed his or her family.
There are people in the seller’s life who benefit from the money. For example, your family benefits when you buy food, shelter, and transportation. Meeting those needs requires that you sell something. Beyond family, there are the people that you are able to help when you have resources to spare.
There are infinite ripple effects from every sale. When someone buys your services, you can buy food, shelter, transportation, and other things. When you buy food, the cashier at the grocery store has a job and is then able to buy stuff for their own family. When you buy shelter, the landlord or realtor is then able to buy stuff for their own family. When you buy transportation…
If you are not charging enough for what you sell, you are assuming that only you benefit from the sale.
3. Your Independence Depends on it
We have a wrong-headed concept of independence. We think that it means not needing anyone. In reality, it is the freedom to choose when to pay for someone else’s skills, or to do it yourself. What if your kitchen sink springs a leak. Do you know how to fix it? Do you have time to learn how to fix it? Do you have the tools to fix it? Do you have money to buy the tools you need, and time to go to the store? Do you have money to pay someone else to fix it?
No matter how much money you have, you only have 24 hours every day, 7 days every week, and 365 days every year.
If you do not charge enough for what you sell, you have to spend more time working, and less time with your family. If you do not charge enough for what you sell, you may have no choice but to fix your own sink. You cannot afford to pay someone else. If you have to spend time fixing your sink, but you are not a plumber, you will take longer to do it than a plumber. Which takes more time away from your family.
If you do not charge enough for what you sell, then you cannot hire new team members so that work takes less time. You have no funds to grow your business.
If you do not charge enough for what you sell, you are losing your independence.
4. Your Family Depends on it
Your family needs you to conquer the fear of charging. They do not just need the benefits of food, shelter, and safety that money brings. They need you. They need your time. They need the investment of your energy into them. If you are stuck at work or stuck fixing the kitchen sink, your family is losing.
If you are not charging enough for what you sell, you are stealing from your family.
5. Your Customers Depend on it
Past profit is what helps you hire new team members today. Past profit is what helps you survive financial droughts. Past profit helps you adjust when your underlying costs go up.
You will not make a profit if you do not charge fairly.
If you are here today but out of business tomorrow, you let your customers down. You let them down because you did not charge enough to stay in business.
If you are not charging enough for what you sell, you are failing your customers.
6. Your Confidence Depends on it
There is a strange chicken and egg relationship between confidence and pricing. Your confidence empowers you to charge more. Your fee builds your confidence. Charging too much creates false pride. Charging too little creates false humility.
If you are not charging enough for what you sell, you are destroying your own confidence.
7. Your Personal Growth Depends on it
Profits made today allow you to expand your team tomorrow. As your team grows, so must your leadership skills. Like in weightlifting, you have to lift heavy if you want to get stronger. You will not be a leader if you have no one to influence.
If you want to grow as a leader, you need people to influence. If you want people to influence, you need to grow your business. If you want to grow your business, you need to charge more.
If you are not charging enough for what you sell, you are hampering your own growth.
8. Your Dependability Depends on it
You may have noticed a theme in the way that I labeled the sections above. Your family, customers, independence, confidence, and personal growth depend on your pricing.
If you are not charging enough for what you sell, you are not dependable.
1. What is holding you back from charging more?
2.Which of these reasons to charge more is most impactful for you?
Dan Stephens is a blogger, mental health counselor, and family man. He writes about emotional health, relational health, and leadership at DanielTStephens.com, and serves clients at Real Life Counseling.