We can set prices (for our salaries or for the products and services we sell) perfectly by following these two rules:
- Our clients (or employers) feel like they are getting a great deal.
- We feel like we are getting very well paid.
Wait. What?! How can we have both of these?
Like this. First, find clients (or employers) who likely have need in the area of business that we’re good at solving. Next, explore with them what they most need in that area, why that’s important, and what would be a conservative estimate for the money saved or gained when they get what they most need. Then ask for a healthy portion (10%, say) of that money and deliver what they most need. What savvy client (or employer) wouldn’t jump at such a deal? And won’t we feel very well paid?
In your corner,
PS: If a client or employer doesn’t jump at this deal, they may have more pressing needs in other areas. Or we may have not fully explored this need with our client or employer and their teams.
PPS: If the “healthy portion” isn’t enough to be well paid, we can either offer our products and services to more people or improve our products and services until they deliver a larger amount of savings or gains.