If you are a regular listener, you’ve likely heard the phrase “Charge what you’re worth.” But how do you know what you’re worth? How much work does it take to get to a point where you can charge what you want? Is it all it’s cracked up to be? In this episode of Wingnut Social, Executive Coach Sarah Schneider breaks down how to figure out what “Charging what you’re worth” actually means. Don’t miss it!
What You’ll Hear On This Episode of Wingnut SocialSarah knows that designers struggle with comparison and self-criticism. They think they need more experience or that people won’t pay their rates. She emphasizes that you have to take an honest look at your background, skillset, and the results that you provide people. Make it about what you deliver and the impact you have. If you’re a high-end designer you’ll charge differently than someone who declutters and organizes spaces. You also have to take into account what you need to make based on your overhead.
People get lost in, “Who am I to charge that?” From a psychological and self-worth standpoint, how do you overcome this limiting belief? Sarah believes that you’re never as new at something as you think you are. A designer has likely used their skillsets in other areas of their life, right? Now you’re simply executing it differently. Sarah challenges people to always take a beginner’s viewpoint and look at things with fresh eyes. But “new” at something doesn’t mean inexperienced. Don’t take your knowledge for granted.
Focus on what you bring to the tableSelf-doubt is a dream and performance crusher. It's the beginning of the end of your goals. It’s so easy to discount what you know because—let’s be honest—it comes naturally. Sarah coaches people to take inventory of what they bring to the table. If you’re your own worst critic, this can be easier to do with someone who knows you well (someone who champions you or a client that loves you).
Brainstorm this with someone and write it down—even if you think it’s an obvious or trivial skill. When you’re in a place of self-criticism, you can look back at the list and see what you bring to the table. It’s easier to be kind to yourself when you have collected evidence in your favor.
How do you determine what you’re worthSarah works with a lot of entrepreneurs. People are often coached to charge a certain amount if they want to appear credible. Sarah recommends that you find a middle ground somewhere between what you’re comfortable with and what the “experts” say you should be charging. It needs to be an integration of a number that stretches you that you’re willing to say out loud—without throwing up.
When Darla started charging what she was worth (to make a profit, stay in business, and give clients the service she’s renowned for), clients started knocking down the door. Darla has a waiting list and she’s never been busier. Darla has found in some cases that doubling your hourly rate can make people pick up the phone. Why does that happen? Listen to the whole episode to hear Sarah share her thoughts.
To hear more from Sarah about the breaking away from the comparison game, head on over to Wingnut Premium for an exclusive episode!
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