Who doesn’t love a good buzzword?
Pivot. Normalize. Self-care. Unprecedented.
I’m not saying any of these things are bad, Mama… just pointing out that they’re words we hear a lot of these days.
I’ve been around the online business space for about 7 years, which isn’t all that long, depending on what you compare it to. But even in that time, there have been so many of these words or phrases that have fallen in and out of style.
However, one that I’ll continue to stand by, no matter how overused it may feel, is value.
In fact, it’s such an important concept that I see it everywhere I go. It’s gotten to the point where I think in terms of value more often than not.
For example, my family and I (including a rambunctious puppy) are on an RV road trip as we speak. If you’ve ever taken a vacation, you know that costs can add up quickly, especially when you’re trying to keep the kids snacked up and happy.
So, on bathroom breaks between destinations, we’ll often pick up a couple things to eat and keep our energy (and moods) up.
Have you ever realized that a single banana at a convenience store usually costs as much as an entire pound of bananas at a regular grocery store?
Pre-value Lauren might have balked at this because, yes, it’s ridiculously overpriced in terms of dollars and cents. BUT, the value of the banana is what I’m focusing on.
1. It’s healthy.
2. It’ll give my husband a burst of much-needed energy as he drives our giant RV and attached Jeep across the Western half of the country.
3. It won’t create a mess of crumbs, greasy fingerprints, or lots of trash.
4. If for some reason he doesn’t want it, any other Golden would happily eat it.
So, to me, this 50 cent banana holds a lot of value.
Enter your next Free Mama Summer School lesson…
How much are you valuing the work you do for your clients? How much do you value what you can bring to the table when you’re speaking with a potential client?
Too often, we get tied up in the black-and-white dollar amounts of what we’re charging, and totally ignore how valuable it is for our clients.
Let’s say you’re starting out as a virtual assistant and are tasked with creating an email signature for your client in Canva. It might only take you 30 minutes, and if your hourly rate is $25, you’d charge $12.50 for this task.
Do you really think this is worth only $12.50…as in just two dozen convenience store bananas?
Think Value…
What if you thought more in terms of the value of that email signature?
First, your client COULD create it on his/her own by following some tutorials on YouTube or Google, or following a design template in Canva. But they’re not — they’re paying YOU to take this task off their hands.
You’re giving your client back their time by completing this task. That’s huge.
Second, what will this email signature do for your client’s business? Maybe it will help put their face with their name so their audience can like, know, and trust them more (which usually leads to more sales in the long run).
Third, it’s always important to take into consideration things like taxes, your time and expertise (yes, even if you’re a beginner).
I don’t normally drop a bunch of links in emails, but I understand how much of a hot topic pricing is, so here are three episodes of Free Mama TV to help you determine how much to charge for your services.
So, Mama, the next time you’re sending off a proposal or telling a prospective client your rates, remember that the value of what you’re doing is way more important than simply the time it takes you.
And if nothing else, just think about how many more convenience store bananas you could get once you set your rates based on the value you bring. 🍌
P.S. If you’re struggling with figuring out what to charge for your freelance services, remember that pricing based on value is key! Check out these past Free Mama TV episodes to help you 1. Charge what you’re worth, 2. Structure your pricing, and 3. Price based on packages.