Five Ways to Unlock Your Earning Potential

Most Americans struggle with their finances. They live paycheck to paycheck. Some are underpaid and overworked. Others are stressed even though they are making a lot of money. Those who are entrepreneurs will either earn their potential or they will struggle to make a living. Most people do not earn their potential; they don’t know how to earn their potential. Here are some ways to unlock your earning potential.

 

  1. Use Value-Based Pricing — The service you provide fills a need. People want their problems solved, their needs fulfilled and results. You need to begin thinking of the value of the service you are providing. For example, if the client expects you to get their name in a journal, you would charge based on that instead of how long it would take to get that result.
  2. Understand Price and Perceived Value – If you want people to perceive a greater value for your services, increase your rates. Consider how motivational speakers can charge much more for engagements. They are valued as a form of entertainment and charge in the thousands every time they speak somewhere. Think about Apple. All its products are charged more than competitors. People think Apple is better, but that isn’t true. The perception is if it costs more, it must be worth it.
  3. Your Service Must Be Distinct – When you set your prices, you must be able to show that if they use you, they will get your unique methodology, point of view, feature set, delivery, packaging, experience and training. You need to set yourself apart from others, so they are willing to buy from you. Therefore, pricing is no longer the only reason why people are choosing you.
  4. Measure Results – Look at results. When you see that the work you do delivers tens of thousands or hundreds of thousands of dollars in results to a client, you are able to show quantitatively how you are worth more than your competitors. You must measure and review with your clients the actual results they get from working with you so that you can confidently begin to price and sell your work based on this knowledge and proof.
  5. Don’t Waver — Stick to your guns. Don’t let the potential client ask for less. You know your worth. Don’t change it. For example, if you believe your service is worth $1,000, don’t let the potential clients talk you into accepting $700. That is $300 you will not ever get back. Also, the people who that client refers to you will expect $700 as the bill too. Stick with the $1,000. If the client doesn’t want to pay that much, you need to let him or her shop elsewhere. Be confident that you are unique and bring value to the table.

 

Many people don’t value the work they do enough, which means they don’t get paid enough. When they are negotiating, they are willing to accept less just to make some money. They don’t consider the results versus the time to do something. If you try these methods, you will earn more.

charlescrawford275
 

Charles Crawford is a high-level entrepreneur and co-founder of Crawford and O’Brien. Charles has been studying internet marketing, web design, and tech start-ups for years, and he has been successful with multiple business ventures such as affiliate marketing (where 98%+ of people never make money).