ARE YOU PAID AS PER YOUR POTENTIAL ?
The Answer is NO ! a Big NO ..... they will only pay you when they think you have the potential and thats possible only when you make them think that you have the potential, not only to perform but to outperform others.
In my experience I have seen many professionals in Job or in business, generally worried that they have not been paid well as compare to their counterparts in the same company or same role in other companies .
While speaking to many job seekers , business owners and employees in big & small companies, I have realized that , they all had few common things to say : They are uncomfortable in expressing their value to employers , bosses or clients” especially early in their career or business , they say things like :
- My work speaks of myself
- I don’t want to beat my own trumpet
- I don’t like blowing my praises
Let me share my own personal story.....
In 2012 when we started HCN , every time I use to go for the client visit , I used to say –
“I am keen to do business with you , our rates are no different than others . Its important to start work with you first and let our work speak , accordingly we can revise our rates once you are satisfied ! ”
The reality is the rates never used to get revised and eventually we started making losses , our own ROI (Return On Investment) started going down . On the other hand the client was getting THE BEST services from our end, be it the quality of candidates, follow –ups , timely – interview set ups and full attention to the client 24 X 7 .
Then One day sitting alone for hours , I decided to correct this situation by asking key Value questions to myself !
- What are my clients needs and how do I meet them ?
- What are my unique skill set that makes better qualified than my competitors ?
- What do I do that no one else does ?
- What problems do I solve ?
- What value do I add?
I answered these questions and defined that VALUE that my clients get from working with me and then calculated the price I am charging from them . Its just half of it what I was charging, may be due to unawareness or may be I never realized it .
I must tell you that I was disturbed for weeks that why I did this way , and then decided to raise our price by 1.5 times . Though I was not sure whether this is correct but I was convinced that value is there .
There were still fears that “ What if nobody would pay me that ?
What if clients say , that we don’t want to work with you ?
So what , it’s me and my work that I am worth it and to charge a price for which I am convinced that I am delivering value to my client.
I also have a family to feed and manage their needs ,
I have a team which is working for me day in and out – whose families and careers depends upon how do my business takes shape .
What if my business fails , What if I fail ....
Being in sales for 20 long years , I had to take my own medicine!
I have now started to raise the price and put up in my proposals in new clients by clearly communicating the value that we are going to offer them .
And the reality is Clients are coming in and ready to pay the price and we are happy to serve them . Not only that they are referring me but recommending to more prospect clients .
Clients won’t ever pay you if they don’t even understand why they should pay attention to you.
And they notice you only if you have a strong value proposition.
Whenever you are in these kind of situations doubts and fears are natural and normal but they don’t define our value and they shouldn’t limit our earning potential .
To sum it up - if you are looking for a salary raise or a promotion in your organization , don’t just settle for anything less than your potential . First ask yourself ,
- Are you delivering any value to your clients / organizations ?
- What you do that no one else does ?
- Whats a day in the life of your company with you not there?
These may be the areas where you’re adding the value.
The reason that I wrote the above because I am working on myself everyday to improve and I would like to share my leanings on the basis of my personal experiences and also going through interesting articles on leadership
Do you find this useful ? If yes , share it with others.
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