Voted Top 40 Global LinkedIn CEO | “The Entrepreneurship Coach” | Built Portfolio of Successful LinkedIn Businesses | LinkedIn Coach for Fortune 500 Companies & Founders/Entrepreneurs | Daily Content on Entrepreneurship
REMEMBER*: Financial revenue is NOT more valuable than time and expertise! And, crucially, this appreciation is what forms the mindset of successful entrepreneurs. Why? Because they are not timid about letting money flow in their direction as energy, and in fact insist on an adequate level of compensation for their time and expertise. In other words, if someone invests $1k in you, then that’s wonderful—but it doesn’t mean they are doing you a favour (nor should they make out like they are). Proving $10k worth of value in response, through your time and expertise, means that you now have a complete Cost-Benefit Analysis (rather than a unidimensional one). In sum, business transactions are about a two-way flow of energy and collaboration. If the person providing the cash thinks that it means they now own you, their energy is off. Run a mile! #Value #BusinessDeal #Clients #Entrepreneurship #Founder
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Multiple studies have shown that, in order for someone to make a purchase, they must feel as though they are receiving a minimum of 1.2 X as much in VALUE as the money they are spending. If they don't feel that they will be receiving at least that much value a purchase will not take place. Knowing this, you can rest assured that they are NOT doing you a favor when buying what you are selling. On the contrary, you are BOTH better off when that transaction takes place.
Excellent reminder today on knowing our worth and not allowing others to dictate that to us. Your time, energy, expertise, and wisdom are yours and others may borrow it or rent it but never own it.
Your time and expertise is valuable, so if you feel your client doesn’t recognize your contributions & value what your collaboration provides, it’s a 🚩 to move on. Time is money- don’t waste it!
I’ve had clients in the past who thought their payment meant they owned my time. But once I shifted the focus to the value exchange, my expertise in return for their investment, the relationship became much more balanced.
Always focus on mutual respect and understanding the value each party brings. If someone tries to control the relationship with money, that’s a red flag.
Well said. It’s easy to devalue time and expertise.
Valuing your time and expertise is crucial for successful entrepreneurship, Mathew Warboys. It demonstrates your worth and ensures fair compensation for your contributions.
Voted Top 40 Global LinkedIn CEO | “The Entrepreneurship Coach” | Built Portfolio of Successful LinkedIn Businesses | LinkedIn Coach for Fortune 500 Companies & Founders/Entrepreneurs | Daily Content on Entrepreneurship
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