Selling value not time

"Why should one prioritize selling value in the first place?

Let's delve into this idea by examining the scenario of a web developer who operates a freelance business.

Take the example of two web developers approached by potential clients from the roofing industry. The prospective clients are individuals managing roofing companies, and they seek a professional website for their businesses.

Now, let's contrast the two different approaches taken by web developers in serving these clients.

The first web developer 

The first web developer opts to exchange their time for money. They establish a rate of $20 per hour and dedicate four hours a day to the project. If the website development takes two weeks to complete, their final fee amounts to $1120. This appears to be a fair and standard practice for the services rendered.

The second web developer

The second one chooses to sell value rather than merely trading time for money. This approach requires a deeper understanding of the true value that a well-crafted roofing website can bring to the customer. Although this may initially require more time and effort for comprehension, it eventually proves to be a wise investment.

Consider the implications of a roofing website. Such a platform helps in converting prospective clients into paying customers by showcasing the company's previous work and facilitating easy contact. With this in mind, it's not uncommon for a single roofing client to bring in revenue ranging from $5000 to $12000. Armed with this insight, the second developer can confidently charge a higher fee because their work directly contributes to the client's bottom line.

In essence, both developers offer the same service of building a website. However, the second developer understands that the true value of their service lies in its capacity to increase conversion rates and generate more income for the client. Consequently, they can justify charging a premium for their expertise.

This example illustrates a fundamental lesson that extends beyond web development.

It underscores the importance of comprehending the value of the services you provide and how they solve problems or provide benefits to your clients. Armed with this understanding, you can set a fair price for your work, which better reflects the true value you bring to the table.

Furthermore, by embracing this approach, you not only increase your income but also detach your earnings from the number of hours you put in. This separation of income from time investment affords you the freedom to explore other opportunities and invest your time more strategically. As you gain experience, you'll likely become more efficient in delivering your services, allowing you to accomplish more in less time while still earning higher returns.

In summary, the key takeaway is to shift your focus from trading time for money to selling value based on the outcomes you deliver. This shift not only benefits you but also enhances the overall quality of your service and your client's satisfaction."

LESSON TO BE LEARNED

Detach your time from what you get paid