Success Unfiltered Podcast

Owning Your Worth: How To Know Your Value and Name Your Price

Do you know your value, or do often doubt yourself?

Let me know if this sounds familiar: It’s that moment on a sales call that makes your chest tighten and your gut clench. The moment when there’s nothing else to do but to ask for the sale. To tell them the price. And to wait for the answer.

Really puts your confidence to the test, right?

You may hesitate to pull the trigger when it comes time to ask for the sale. But it’s actually one of the most important things you can do for yourself as a business owner. When you can tell people what you charge without wavering, it means that you’re 100% aware of your value. It means that you know your worth and you honor yourself enough to ask for it.

The thing is, if you don’t know your value, own your worth and you don’t ask to be paid accordingly for it, nobody wins.

Not the client, not your business, and definitely not you.

If you don’t price yourself right, it’s likely that you’re going to wind up stressed, miserable, and even resentful. And eventually, that resentment is going to make the quality of your work go straight downhill. It’s a lose-lose situation for everyone involved.

So let’s talk about solidifying your confidence, knowing your value, and asking for what you’re worth. It’s the precedent that you need to set for the greatest good of your business, your clients, and yourself.

“If you don’t know your value, somebody will tell you your value. And it’ll be less than you’re worth.” –Bernard Hopkins

Not too long ago, someone approached me about being a co-founder of his new startup. He was looking to start selling a new style of a cell phone case, and I found product itself pretty intriguing. As I considered the offer, I had a price in mind.

I put a price on my time based on the value that I knew I could bring to his project. But when it came down to it, what he was willing to pay didn’t line up with the value of my time. So I had to decline.

In this case, I was honoring my worth. I knew what my time, effort, and knowledge could do for this startup. But since we couldn’t seem to agree on the value, the partnership couldn’t go forward.

This is a perfect example of knowing your worth and valuing it accordingly. If you don’t do this from the beginning, you’re only going to stress yourself out, fall into resentment, and wish that you had never said “yes.”

That’s not what I want for you. And we’re not going to let that happen!

But how can you know your value, own your price, and start asking for what you’re worth?

It’s the first step to creating a business that not only creates raving fan clients but also helps you live your purpose with passion and reward.

Step 1: Get To Know Your Value.

How do you know exactly what you’re worth in the first place? Is there specific and quantifiable methods to give yourself an exact number that is 100% irrefutable?

Well, not exactly. But what you can do is decide who you want to be in your business. Feel into the value of that person, and start building from there.

Start by asking yourself who you are, what you stand for, and what drives you. Then begin to step into that person and take action accordingly. Remember the “be, do, have” exercise that we talked about awhile back?). It’s a two-step process that goes like this:

1) Who Do You Want To Be? What do you stand for? What is your biggest mission? Why do you do what you do? Figure this part out first. Knowing this not only provides the foundation for your business but also the inspiration to build it.

I recommend writing down five characteristics that you want to have. Make it a sort of mini mission-statement. A manifesto about what you want to create, who you want to create it for, and why it sets your soul on fire. Step into them and live them every day.

My list includes things like selling with authenticity, providing exceptional value, and delivering on all of my promises. It also includes inspiring people to take a stand for what they want right now.

I keep my list of characteristics in mind at all times to remind me of my mission, my passion, and my value. I highly recommend that you do the same.

2) Solidify your affirmations and say them daily. We talk a lot about affirmations, but there’s a reason for that. They work! Just the very act of repeating them every day not only lifts your spirits but also changes patterns in your brain. It shifts your default thoughts from fear and doubt to confidence and self-worth.

Just like working out, the more you do it, the stronger you become. What words resonate with you? What can you tell yourself that makes you feel like you’re on top of the world?

The more that you determine who you are and what you stand for with your five characteristics and daily affirmations, the more you become the person who provides the value that is worth the price.

Step 2: Receive the LOVE! (Client love, that is)

When was the last time you acknowledged yourself for what you do? We’re talking about taking note of all the people you’ve helped, the things you’ve accomplished, and the difference you’ve made. It’s time to give yourself credit for everything that you’ve achieved and remember everyone who has benefitted from knowing you.

Start acknowledging your awesomeness right here!

1) Write down all of the people you help each day. Who have you worked with today that absolutely loves what you do? Who do you make a difference for every day? Write down all of the people that you help on a daily basis and REALLY take note of the difference that you’re making for each and every one of them.

2) Create a space for all the client love. Do you receive emails, texts, or reviews from happy clients? Keep them all together in a treasure chest of client love! It’s so uplifting and affirming to have all the proof from the people whose lives you’ve changed in one go-to spot.

I keep an inbox of all the positive messages, happy texts, and rave reviews I’ve received. I refer to this often just to remind myself of what I really do for people every day. When you acknowledge your worth in this way, seeing your value is going to be a whole lot easier.

You can keep a notebook. Or an inbox. Maybe a folder somewhere. Doesn’t matter. As long as you have a special place for treasures from your clients you’re always going to have a haven of happiness to remind you of your true value.

3) Ask for testimonials. Clients want to give you testimonials. All you need to do is ask! It sounds simple enough, but honestly, this is where a lot of us miss the boat. People just don’t ask for the positive feedback. But the good news is that asking is all you have to do.

If you haven’t asked for them yet, it’s time to get started! There’s nothing quite like seeing your client’s own words to help you boost your confidence and remember what you’ve truly accomplished.

The best part of all these steps? Acknowledging your worth makes you feel good! Not only does it remind you of all the good you’ve done in the world but also it inspires you to go out and do even MORE good. It inspires you to keep building on your value. And owning it even more, too.

So now that you’ve got all of this positive self-talk in place and you’ve seen proof of all that you’ve accomplished, what comes next? The action plan, of course!

Let’s talk about using everything we’ve done up to this point to name that price, own that price, and actually deliver on that price.

Step 3: Make a game plan.

This is the moment to consider what you offer, what you believe it’s worth, who are you looking to serve, and what would they are willing to pay.

You really can’t pick prices out of the sky. You do have to have some basis for them, so consider the value that you provide. Be aware of what your competition is doing (without obsessing over it, of course), and land on some numbers that feel right to you.

I recommend figuring out two numbers: your lowest acceptable price and your preferred price. Be sure that it aligns with your value and also that it feels good to you. Make them numbers that you can say with confidence. (And when you’re in doubt, look back at the value we established in step one.)

Once you know both your lowest acceptable price and your preferred price, it’s time to test them out on a live audience. So communicate your value, put your numbers out there, and track your results. Then adjust accordingly as you go along.

Step 4: Follow through.

Now that you have determined your worth, it’s time to prove it! And honestly, this should be the easiest part of all.

If you love what you do, know your value, and you know you can deliver, then following through should be a slam-dunk. After all, you get to do what you love and make a difference for someone else. What could be better?

After all, if you know your value, love what you do, and receive the proper compensation for it, then following through is not only going to be easy but also will be a lot of fun!

So make sure that you keep your promises. Do what you said you were going to do and keep your integrity intact. Not only will it be fun for you to do what you do best, but you’ll also get a chance to truly “wow” your clients and create more raving fans.

Remember your five characteristics. Keep track of all your positive feedback. Then get out there and present your product or service knowing that you can deliver on all of your promises. Stick to what your gut says and know that you’re worth what you ask for.

Most of all, make sure that you’re always providing value and that you’re always being paid what you’re worth. Stand by it, don’t deviate from it, and you won’t go wrong.

If you’re ready to learn even more about turning those dreaded rejections into big-time approvals & sales, check out this video or download my FREE guide “3 Ways To Turn A “NO” Into A “YES”: A Guide For Upping Your Sales” right HERE.

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