Dub Yourself With The Worthy Stick Today
Have you noticed just how strongly your business model and pricing impacts every aspect of your sense of identity? It’s so deeply personal.
We were in a whole day session together, where we had taken apart her business, and I showed her how she could make an extra $750,000-odd by restructuring one of her collegiate relationships as a supplier relationship. She would sell his product under her logo for this one particularly large contract.
She is a bit of a gun, sharp as a whip, strategic, and with an underlying sense of grace and class.
Before she worked with me, she’d never done a fist bump in her life.
Her colleague is well-respected in his field. In fact, she was quite open in admitting that his work in this particular area was better than hers – it was more specialised, he had done more research and validation into the method.
She had to decide if she was willing to “step up” and take the lead on what had been a very peer-to-peer relationship.
It’s challenged her identity, her sense of leadership and brought out a great deal of “imposter syndrome”.
The question that she was asking was, “Usually, I would introduce him to my client and wish them well in their future relationship. This time, should I bring his services under my banner, add a significant profit margin, and make money from their work together?”
This wasn’t just a matter of bringing in someone to do a bit of sub-contracting. This was a very large client, and so even after he’d paid his employees and made his money, if she acted as the lead consultant, she would make an extra three-quarters of a million on the deal.
This of course brought up a whole slew of more questions.
Would it be right to make so much money off his intellectual property? How much was too much profit? Was it right to make money when she was essentially only building the client relationship and not doing the actual work?
Admittedly, in this situation, it really made sense to do it. She had spent a good three years cultivating this major client with little financial reward for the first thirty months. There was no way that her colleague would ever have access to this level of decision makers. And whilst his product was superior, he didn’t know what it was worth in the marketplace. He sold it for about 60% of the value that she sold her comparable product for. And, he wouldn’t know how to help this client once this body of work was finished, and she shouldn’t leave her client in the lurch.
She could easily sell his product at the higher price she would usually sell hers at. After all, she was comfortable with that price point, and his product was actually better for this situation.
But it would mean saying that she was going to step up and take the lead in what was a peer-to-peer relationship.
She would end up being the leader.
This is a big decision to make.
To put yourself as a leader in a field or in a relationship.
She Had To Dub Herself Worthy
Nobody comes along and taps you on the shoulder and asks you if you’d like to add $750,000 onto the job that you’ve almost completed.
(Well, in this case, I did, but it really happens very rarely.)
Your client won’t ask you. Your peer-to-peer colleague won’t ask you.
In fact, in this case, her colleague had so little idea of his market value that he offered her an additional 5% discount that she could add to her profit if he could do the work for her.
She had to decide that the business development work that she’d done was worthy. That her ability to sell higher priced products meant that she was worthy. That she was worthy of accepting money from someone else’s intellectual property without actually doing and closely supervising the work.
In that specific moment, she had to decide that she was worthy of receiving a lot of money without working hard.
Your Turn – Dub Yourself Worthy
Ask yourself, “Where is there an opportunity for me to make some money without having to work hard right now?”
It might be a sponsorship, a finder’s fee, or sub-contracting some of your work elsewhere. It might be something else entirely.
But, whatever it is, decide that you’re worthy of receiving. That you’re worthy of leading. Step up and create an offer that will be rewarding for you and your client.
Don’t be upset if your next deal isn’t three-quarters of a million. Start where you start, and get used to looking for opportunities.
When your brain is trained to look for them, and you deem yourself worthy, you’ll be amazed at what appears.
All my best,
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