The Money Podcast
12.5 Ways to Get Paid More (& a Surprise)
Thursday, 9 January
Too many business owners and entrepreneurs are not charging enough for their product, service of the value they provide. By fully understanding the concept of ‘fair-exchange’ you too can increase your prices, charge larger fees and earn more money. Discover the proven ways to increase your value proposition and force yourself to scale up. In today’s insightful episode of The Money Podcast, your host Rob Moore shares 12.5 key ways to get paid more and grow your business.
12.5 Ways to Get Paid More
To charge more. Too many people, not charging enough. They have guilt. They have fear. They have a concern that they are not that experienced or others might judge them or may feel that they may be ripping them off or they shouldn't be charging or critics criticize people for charging in your niche or in your industry, etc.
To charge in the first place. So a lot of people aren't charging. They're giving a lot of time, or money or experience for free. Giving away knowledge that has taking them years to build for free.
Increase the value proposition. To force yourself to charge more is create a great offer. To repackage your offer, make it sexier, to give more, to create a fair exchange environment, etc. This can, therefore, help you create more value, and with more comes higher fair fees.
Scale-up. To reach more people. To increase your marketing. To increase your lead volume. To have multiple streams of lead. To increase your reach. To increase your exposure.
To get proof. If you get case studies from people who are grateful and have benefited from your work, whether that's professionally or personally, or as a client paid or just someone who's just got benefit for free, if you get testimonials from people who've used your products and services, really grateful and sharing specific proof on how it's benefited them and then you use that and put that into the marketplace, you will get paid more because, at the end of the day, facts tell, stories tell.
To sell your time. Could you charge for your advice? Could you also charge for the knowledge you have? Could you set up an online resource program? Could you one day in the future get a Facebook support program as I have? Could you get ad revenue or sponsorship for your podcast and the information that you put out to the world, your experience?
Sell your knowledge and experience. You can sell your time as a coach, as a mentor. You could do one to one work, calls, etc. But you could also create your knowledge and experience in information marketing.
Ask for referrals and recommendations. As soon as someone has consumed your products and service and you know is in a state of gratitude and they love your work, and they are even going out posting about it in social media or you hear or know that they've completed, go and say, "Hey how was the products or service? I have a two-step referral model."
Sell more to existing clients. A lot of people always chasing new clients, spending more in marketing, trying to find those people who haven't bought from them when there are hundreds or thousands of really happy customers who've already bought from you.
Increase your conversion. Get better at sales. Reduce the friction in your e-commerce site. Make it easier for people to buy from you. If you can increase your conversion in all of those, you might end up doubling your business in a year.
Manage to get feedback. Seek continual improvement. Look to ask your clients, your buyers, your non-buyers, your staff, etc. It is absolutely vital to get feedback from everyone. You should desire continual improve. Always seeking feedback.
To innovate. To evolve. To disrupt. To stay relevant. You grow. I really believe if you stay at the forefront of innovation, disruption, evolution then you will always survive in a recession and the changing market. You will always be the forefront and trailblazer for your industry and you will never be short of income and a great business and a great profit margin and scalability.
12.5. Manage your time and priorities. YOu need to know what your key result areas are, what your income-generating tasks are, and you need to spend more time on those.
"I think you should be incrementally increasing your prices."
"So, I think the key is, yes, give value. Yes, give some time and some information for free. But then have a line."
"Overly selfish or overly selfless doesn't create a fair exchange and doesn't create that proper market place."
"Add more value to your offer, add more things that you give away, do more for your fees, and then you can increase the fees. Increase the value, and then the fees should take care of themselves. But then of course, you have to up that too."
"What are the common traits of billionaires? Well one of them is that they serve vast numbers of people."
"Fair exchange is that balance between someone wanting to give you money in exchange for your products or your services in a grateful way and you're still making a profit."
"Your recommendations and your referrals are much better of a salesperson that you could ever be for your product or the service."
"There is nothing wrong with selling your time, your experience, your knowledge."
"You could monetize your message. You could have an online course where you have created all the resources. You could have a resource center where you put your knowledge, your experience, your systems, your templates. And what you have learned over the years, you could create hard assets around that and sell that."
"The quickest revenue with the least friction and the lowest marketing cost comes from happy clients."
"You can go and sell to your existing client’s new products or services or an extension of what they already got, more of what they already got or you can go help them, serve them, listen to them, give them more value and then they will buy more from you."
"And you remove your ego and go into a state of gratitude and humility and you learn from everyone, and you ask everyone questions and you ask how you can improve, honestly, the market will it wants it needs. It will tell you how much it will pay. It will tell you what products and services. Make the market more grateful and buy and more and more and refer you. All the feedback is there in the market. You just have to listen. You just have to ask."
Money book by Rob Moore
ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
Rob’s official website: https://robmoore.com/
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