“You don’t get paid for the hour. You get paid for the value you bring to the hour.” ~Jim Rohn
“You think differently.” A client said this to me. She was complimenting me on my ability to analyze a system in her business.
There is a level you reach with your business when you achieve status. “Status” refers to the reach of your influence. People seek you and your business because you helped someone they know reach a goal. You know you have status or reach or influence when people outside your defined target or ideal client request your service. (I might not be explaining this accurately. I mean no offense to anyone. What I am referring to is for example, when a life coach’s reputation for success is so well known people want to work with them because they have a good reputation.)
When economic times are challenging it is difficult to say, “this person is not a good match/fit for my service.” The client I was working with had several clients that she agreed to work with in the hopes that things would work out. Her “inner voice” whispered these clients were a mismatch. However, for various reasons she provided support for these clients.
When the client and I worked together, we determined that she was getting “paid by the hour.” Her value to the client was not meeting her or their expectations. We created an evaluation system and a referral system. The evaluation allowed my client to determine if a potential client was going to benefit from her business. The referral system allowed her to pass along, to another business, a potential client that did not match her business.
When setting your rates, speaking with potential clients and signing new clients, remember the value you bring to the hour.