A lot of growing up has revolved around knowing your worth and the value of yourself. But, what about knowing the worth of your business? Or how the way you perceive your worth and value affects the way your potential clients see your business?
Many times, we don’t recognize how smart we are and therefore, we are not charging what we are worth.
Knowing your worth and the value of your services directly impacts how potential clients see your business in a HUGE way. How do you begin to understand the worth of yourself and your business?
This week, I had the opportunity to speak with Angus Nelson, the Director of Development for Golden Spiral Marketing, as well as, the host of the “Up In Your Business” podcast and has spoken for brands like Walmart, Whole Foods, BMW, Coke, & Adobe.
Angus dove deep into what makes up your worth as a business and how you can continue to grow and expand that worth.
What Your Thoughts Say About Your Business
Your business is just that, It’s YOUR business. You dreamed it up, you learned, you made a plan, you put that plan into action, you put endless amounts of time and money investing into it, you’re the one responsible for the day to day management, for the growth and evidently, for the success of your business.
Your business is a direct reflection of YOU and the work that YOU put into it.
So what do your thoughts say about your business? How does knowing your worth and value affect your business?
Statement of Worth
Our entire world is based on the exchange of value. We identify the worth of a service/product based on the value of that service/product. Thus, a consumer will put a worth on our business but for them to gather that worth we must first present them with the value. And so many times we don’t charge what we’re worth!
We don’t charge the full worth of the value of our product!
Because somewhere inside of us there is a belief that our service/product is not worth a higher value. This is a lie.
This is a lie that we are subconsciously projecting onto our potential clients. If we don’t understand our own complexities then we subconsciously project that negativity and self doubt to our clients.
We are giving them the arsenal they need to reject us.
What Are You Exchanging?
Are you exchanging time for money? Or are you exchanging value for money?
So many times I will see dog walkers who say “I’ll take your dog on a 20 minute walk for $20”. So, 20 minutes for $20, an exact exchange of time for money. Except, that’s not what we want! We aren’t exchanging the amount of time spent with a client for money. We are exchanging the value of our time.
Not sure what this looks like? Take a look at how I break it down here.
It may only take 20 minutes to complete a task but is that 20 minutes of our time only worth $20? What if we spent years learning how to do that task in only 20 minutes? Wouldn’t that make the value of our time go up?
Our clients are not paying us for time, they’re paying us for our experiences, for what we know, for what we offer.
They’re paying us for our worth!
Brand Phrasing & Worth
Knowing your worth is the first step in presenting the proper value to your clients. However, knowing your worth and presenting your worth may not be the same thing. Just because you know your worth does not mean its clear to your clients.
To make it clear, you need to focus on your brand phrasing. Are you saying things such as, “We’re the best!” or are you saying “Do you ever worry about who is taking care of your fur baby?”
Are you speaking to the pain of your clients?
Phrasing your brand in a way that pulls on the emotions of your clients will show how much you are worth. Saying “We’re the best!” should be a given in the way you carry yourself and your business. What you really need to focus on is how you’re reaching your clients on a level that means the most to them.
Think in the context of the client.
Rejecting Customers That Don’t See Our Worth
It’s never easy to reject a customer. Especially when you’re trying to grow your business. But what happens when we don’t reject customers that don’t see our worth?
It’s simple really:
- You decrease your premiums
- You decrease what you’re willing to settle for
- You decrease positioning
Overall, You decrease the value of your business. In addition, you’ve labeled yourself as someone who CAN and WILL handle headaches!
Consistency in Your Business
In order to compete with businesses like Wag! or Rover, we have to back up our value with our worth! We have to remain consistent within our business rather that’s through amazing customer service, email newsletters, blogs or even the factors that make us unique.
We have to treat our business and clients like the boyfriend or girlfriend we just meant. The person we bend over backward for because it’s so new and romantic.
Go above and beyond for your clients!
Hand out dog treats on visits, or send out a newsletter with helpful information regarding their pets. At the end of the day, their pets are the client you are serving. Show them the energy you bring to your job. Send them pictures, update your social presence with actual clients. Reach the client at their level, human or pet.
Showing consistency is a way of creating history within your business. If you post on social media pictures of the pets you take care of, eventually, there will be a ton of posts showing ALL of the pets you’ve taken care of!
If you haven’t heard of them yet, look into Snapchat Glasses. They are actual glasses that you wear that will allow you to film both of your hands from your point of view. They’re a great tool in showing clients exactly what you do and what a day in the life is like for you and their pet.
Most of all, remain consistent! Don’t bend over backward for one client when you wouldn’t do the same for another. Always represent your brand in the same way to everyone.
To know your worth, it’s best broken down as an acronym.
W- Who is your ideal client?
O- What opportunities are you presenting?
R- What is your relationship with clients?
T- How are you thinking in regards to the business?
H- Where is your heart?
You’ll need to describe your ideal client and stick to that! Focus on that client and work to make your business strategies reflect that. Then, identify what opportunities you present that makes your business unique. What do you bring to the table that really sets you apart from others?
Thirdly, you’ll want to form a good relationship with your clients and do your best to have that same relationship with all your clients. Fourth, really hone in on how you are thinking in regards to your business. Do you have positive thoughts of growth and success? Or are you thinking negatively, that you won’t succeed or that it’s overwhelming?
Finally, the most important, where is your heart? Is your heart in your business or are you in this business because you feel like you need to be?
I challenge you to answer these questions and really think about them. It’s okay to have answers you don’t like, what matters is that you’ve created a foundation, a starting point, to really broadcast and grow your business’s worth.
Your Community Will Create Your Character