Is it REALLY about the money?
on Monday, August 8, 2011Is it really about the money?
Answer: Yes and No.
1. We need money to live. Could we live more simply and survive on less? Probably.
2. Our businesses need money to function and grow.
3. Our business profitability and fulfillment comes from money earned in the process of serving a people group who values what we offer.
In light of the current economy you may have found yourself saying, ”How can I get people to buy without holding a gun to their head or twisting their arm?”
I believe the ”Work Smarter” philosophy is one of the culprits setting you up to work harder and make less money.
You might be saying, “Kathie, you are crazy!” You may or may not know that I’ve been a Work Smarter cheerleader for the last 20 years so let me clarify.
I found myself in a discussion with a small group of entrepreneurs this weekend. It was an interesting conversation to observe. Three leaders advising each other on the “work smarter, not harder” philosophy that’s been around for years to fix their 24/7 work habits created by working with people who couldn’t afford to pay them.
Listening to them wrestle with the methodology encompassed in the old model I realized the Work Smarter rules never really worked as well as we’d like to believe. There is a huge gap that rarely gets addressed for the passion driven entrepreneur.
The philosophy in its simplest form:
Work with fewer clients who will pay more for what you do.
This should equal quality time and more profit.
It sounds good…but does it really work? Over the last 10 years of coaching I have discovered many very well-meaning and passion driven entrepreneurs end up dropping their fees to those who balk but try to provide the same level of service of their premium offerings. This translates to more work and less money.
In observing businesses who are thriving in this current day I see the new paradigm is leveraging the strengths and culture of your offering to serve a broader range of clients building community which allows you to get the fee you ask for. Of course there are a couple of ground rules that have to be set first, starting with the premise that you provide a quality service or product that provides an economic or lifestyle impact. That means you either help your clients make money, save money, increase efficiency, decrease costs, have more life, better relationships, etc…you get my drift. If not, all bets are off.
As a passion driven person you want to help more people who need your service. Until you’ve clearly defined the value exchange for each group you can serve you will keep working harder than you have to and leave money on the table.
Are you ready to close the gap?
Join us for a discussion this Thursday, August 11 at 9am Pacific (or sign up for the recording)
“7 things you can do (ethically) so your customers happily pay what you ask!”
We promise to shed some light on the invisible pitfalls in the Work Smarter philosophy that keep you working harder than you should. In the end it isn’t just about the money. It is about serving customers well, increasing impact and influence, and in the end, reaping the rewards for exchanging incredible value.
------------------To your success!
Kathie Nelson
http://www.KathieNelson.com
looking forward to this talk.