How much should you charge? Part 3: Being paid what you’re worth

Published March 19, 2011

Can we truly put a price on the value you bring to other human beings by working with them? Well, sort of.

Let’s consider some examples.

Say you work with a stressed executive, who is starting to lose the plot. Their work is going downhill, and soon their job may be in question. If they lose their job, then their chances of getting a high-paying job again in the future are somewhat reduced. So what is the true value you’re bringing to that person? It’s measured probably in tens of thousands of euros, dollars or pounds.

Consider working with a couple who are on the edge of getting divorced. What does divorce cost where you live? I know many solicitors make an excellent living from divorcees. And this is not even putting a price on the emotional torment that both will go through.

You work with a depressed mother, and help to bring the joy back into her life and enjoyment of the family. Really, in financial terms, this is worth a fortune.

Being paid what you’re worth is about being paid for the value you bring to others.

Now I know you’re reading this thinking, I can’t charge that! Well, perhaps right now you can’t, but let me give you a couple of ways of thinking about things.

Just for an example, let’s say you decided to only work with police officers. (I’m not recommending or discouraging this; it is just an example.) Having chosen this course of action, you read all the appropriate journals, books, anything you can find on the Internet that is relevant. With that amount of studying, certainly within a year you will be an expert.

Secondly, with this example, by the time you’d worked with 10 police officers you would probably know at least 80% of the major issues police officers face, that you could help with. By the time you’d seen 20 you would probably have 95% of the top issues, and you’d be pretty clear what the top 5 were.

This is a matter of getting paid what you’re worth by becoming an expert to your market. So with our police officer example, imagine they were looking for help and you were offering a service that talked only about police officers and their issues, whilst another coach in the running talked about what coaches seem to always talk about: work-life balance, stress in relationships and so on. Even though you could be charging considerably more, which of you two is that officer likely to select?

Being paid what you’re worth is about your clients understanding the value you bring from the beginning of the relationship you have with them.

John Nolan