#2841 - Failure Friday: The Corporate Gig Where I Undersold Myself
Oct 11, 2024
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In this engaging segment, a speaker reveals the awkward moment of underselling their expertise during a corporate talk at an oil company conference. They candidly discuss the lessons learned about valuing one's services and the challenges of pricing oneself fairly. This reflection not only emphasizes the importance of knowing your worth but also inspires listeners to gain confidence in assessing their own value in the professional world.
Knowing your worth is essential, as underselling yourself can lead to significant financial losses and impact your credibility.
Conducting thorough research on market rates can enhance confidence in pricing your services, ensuring they reflect your true value.
Deep dives
Understanding Your Worth in Professional Speaking
A key insight from this episode revolves around the importance of knowing your worth when it comes to professional speaking engagements. The speaker, who was invited to present at a corporate conference, found himself unsure of how much to charge, ultimately quoting only $2,000 for his services. After the event, he learned that the organizing company was prepared to pay a significantly higher fee, approximately $10,000, which underscored that he had drastically undersold himself. This experience taught him that understanding market rates and valuing one's expertise is crucial in order to avoid leaving money on the table and to maintain credibility.
The Importance of Research and Confidence in Pricing
Another critical takeaway from the episode emphasizes the need for thorough research and confidence when setting fees for services. The speaker recognized that he could have gathered better insights into standard speaking fees, potentially by seeking advice from others in the industry or simply conducting market research. By undercharging, he not only diminished his financial gain but also impacted how the client perceived his value. The realization that pricing should reflect one's true worth serves as a reminder for professionals across various fields to advocate for themselves and their services.
In this week’s “Failure Friday” segment, we hear from an industry expert who was invited to give a corporate talk at an oil company conference in Halifax. Just one problem: he didn’t know how much to charge, so he asked for much less than the company would have paid.
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