There Is No Law

Posted Leave a commentPosted in Marketing, Money, Sales and Influence, Strategy
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There is no law that says we have to compete on price. Despite what people say and what we may fear, we do not need to lower our prices in order to succeed.

The law that does apply is the law of supply and demand. If we honestly provide something rare and valuable then people will happily pay more. What’s rare and valuable? Our understanding of and ability to serve our clients, our ability to work well with others, and our commitment to something bigger than ourselves or this transaction.

Instead of price-cutting, we can race to the top by listening, caring, serving, and improving.

Yes.

 

In your corner,

Mike

PS: This does not mean we get to raise our prices just because we think we deserve it.

PPS: Another way to see it: we will have all the money we want as a happy by-product of listening, caring, serving, and improving.

 

Today’s photo credit: Eric E Johnson Law books 2 via photopin (license)

This Statement

Posted 2 CommentsPosted in Will=Our inner game
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You deserve and are perfectly equipped to live a fully happy, rich, and meaningful life.

This is not a trite fortune cookie message. It is powerful perspective that many of us are missing and that all of us can adopt and realize. Despite what we may have heard, no one gets hurt if we believe this statement. In fact, everyone benefits when we do.

 

In your corner,

Mike

PS: Yes. All of us.

PPS: Many of us will tumble into a fit of “yeah buts” (such as, “Yeah, but I’m too old now,”) upon considering this statement. All our “yeah buts” are baseless. Others will misinterpret it to mean that we somehow have to leap into action to make stuff happen. Nope.

PPPS: Start by appreciating how true it already is.

Today’s photo credit: Josh Kenzer strangers. via photopin (license)

An Indsidious Question

Posted Leave a commentPosted in Money, Will=Our inner game
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How much are you worth?

This common, insidious question mixes two ideas that really should stay apart. It asks about how much money you have or make. It also pokes at your worth-as-in-worthiness.

Putting these ideas together often leaves us thinking our worthiness has something to do with how much money we have.

It doesn’t. We are completely worthy. Full stop. No question. 100%.

The sooner we get this the sooner we’ll be happier, richer, and more able to live a deeply engaged, helpful, and meaningful life.

 

In your corner,

Mike

 

Today’s photo credit: Worm and apple via photopin (license)

What To Do When You Feel Bad About Money

Posted Leave a commentPosted in Success
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If you ever feel bad about having (lots of) money, don’t.

Having money when others don’t is a common source of guilt, blockage, and bad feeling. Appreciate your money. Spend your money. You spending it makes money available for others to have and use. You being happy and flowing your money will do infinitely more for those who lack than you feeling ashamed.

If you ever feel bad about not having money or if you ever judge others for having money when you do not, don’t.

Focusing on any lack of money leads to more lack. You will be so focused on the lack that you’ll miss the opportunities, connections, ideas, and situations that would lead you to having more money. And judging others is just another way to feel bad.

Appreciate your money. Honor what others do with money. Find a way to feel good about the money you have now and the abundant life you desire. Envision that life, setting aside any “yeah, buts” that occur. This puts you in the right place for that abundance.

Money is just money. Your (good-feeling) thoughts are what matter most.

In your corner,

Mike

consult

What to Pay For/Charge As a Consultant?

Posted Leave a commentPosted in Career, We=All Who Matter
Reading time: 3 min.

Consultants can earn anything from nothing to holy-moly-thatsalotta-dough. Generally, we pay a consultant roughly what we might pay an accountant or a lawyer. Whether we are considering hiring a consultant or becoming consultants ourselves, we can gauge fees based on these factors (in no particular order):

    • The industry or client: Rates are higher in some industries.
    • Competition from other consultants: Usually, the more sharply a consultant narrows and focuses on her niche, the more she can charge because she will have less competition.
    • The length of the project: Consultants often charge lower fees for projects that demand their full-time or near full-time attention and for longer-term projects.
    • Pro bono  work: Consultants occasionally reduce or forgo fees for charities.
    • The remuneration structure of the team: If a consultant works with other consultants, he will likely share some of his earnings with the team. One model for small consulting groups is “15% of every sales (not expense) dollar goes to the company, 15% goes the the person or people who sell the deal, and the remaining 70% is split among the people delivering the consulting work as per their skills and the time they spend.”
    • Sales and marketing: A consultant or consulting group can earn significantly more if they know how to market and sell their services with care and authenticity. Old-school selling depresses fees and drive up sales costs. New-school, “what-do-you-most-desire-to-achieve-and-how-can-we-help?” selling earns significantly more and clients are delighted.
    • The economy: It’s not the economy per se but how the consultant’s offerings relate to the economy. In an up economy, clients will consider and buy more of most everything. In a down economy, clients will continue to buy as long as the offer helps them save money or make money in that climate.
    • Age/experience: We pay different amounts for different consultants depending on the work to be done and how much we trust the consultant to achieve the promised goals (e.g. we will pay $350/hour to have a first-year law associate do legal research and writing; we will pay $2500/hour to have the senior law partner who is a specialist in this area do the negotiations for us.) But consultants really need to conservatively quantify the dollar-impact of their work for the client and charge some percentage of that. Startups and new consultants can struggle unless they focus tightly on their niche, sell well, and land significant work even before they “hang out their shingle.”
    • Discounts and packages: To address clients’ fears about “open-ended” projects billed at the consultant’s hourly or daily rates, consultants often sell their work at a discount (not recommended) or at fixed price for a project (recommended if priced well). Packages can be a good or bad deal for consultant and client.
    • Delivery: Even the best sales, offers, and rates won’t matter much if the project goes off the rails. Scope creep, poor relationships, chaos, and other unexpected surprises can kill a project, harm the clients’ business, lose money for consultants, and sour relationships. Clients and consultants do well to include clear contracting, project management, facilitation, and the associated fees in their project agreements.

 

In your corner,

Mike

PS: Beware low fees. If we charge too little as a consultants, clients will discount our abilities. If we squeeze too much as clients, we will get and deserve what we pay for.

PS: If you choose to go into consulting, I highly recommend the books Million Dollar Consulting by Alan Weiss and Getting Naked by Patrick Lencioni.

 

Today’s photo credit: Matthew Burpee cc

Money or Meaning?

Posted Leave a commentPosted in Career, Good: Your Good Work
Reading time: 1

Making all the money or doing meaningful work?

Wait. Who says that we cannot have both? They are not mutually exclusive. They do not depend on position, status, or luck. They don’t even require what most of us know as “hard work and sacrifice.”

They do require constant, conscious choice, clarity of purpose, being guided by what feels good, a commitment to win-win, and an effective, natural flow of actions.

I say go for it.

In your corner,

Mike

money

How to Make Money

Posted Leave a commentPosted in Money, Will=Our inner game
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The best way to make money is not to try.

The next best way is to help others be happier, freer, and growing in any way that works for you and them. This is possible even for the business you are in right now.

After that comes making a wage/salary/fee/bonus–minuscule or gargantuan–in exchange for your time, know-how, or assets.

In your corner,

Mike

PS: “Try” usually sprouts from a thought of “can’t or probably won’t.”

PPS: By “not to try” I mean not to push to make it happen or fret about it not coming. So don’t “try.” I do mean getting clear about what you want and looking forward to its arrival with calm excitement.

PPPS: Have you noticed how the second can be a natural byproduct of the first? And the third is a byproduct of the second? Yeah,  I love when that kinda stuff happens, too.

 

Today’s photo credit: st_u_art via photopin cc

money

Money as By-Product?

Posted Leave a commentPosted in Money
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What if money was a by-product? Instead of it coming in exchange for something, what if it came as needed whenever you threw yourself into a project you loved? Imagine what projects you would start, what experiences you would seek, what people your would meet.

What if, indeed.

In your corner,

Mike

 

Today’s photo credit: epSos.de via photopin cc

Slight Shift re: Money

Posted Leave a commentPosted in Do=Natural flow of action, Good: Your Good Work, Money, Sweetspot, Will=Our inner game
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Most people would benefit from a slight and important shift of perspective regarding money and work.

We tend to think, “To make money, I must work. The more I work, the more money I make.”

Instead, try this on: “Money–and plenty of it–is a byproduct of me enjoying life and work.”

Okay, maybe that’s not quite a slight shift. But it is an important one.

What would your work and life be like if you operated from the latter perspective?

Ya! Pretty good, isn’t it?

In your corner,

Mike

PS: Now, are you willing to believe it?