Entrepreneur Ideas And Business Lessons For Determining Your Marketplace Value

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What are your time and skill worth to somebody else? The issue of pricing is the biggest hurdle to people thinking about becoming entrepreneurs because most people live their lives with someone else doing their pricing for them. In this episode, business coaches Dan Sullivan and Shannon Waller explain the best way for entrepreneurs to determine what to charge.

Here's some of what you'll learn in this episode:

• How an entrepreneur can switch mindsets from being the seller to being the buyer.
• Why entrepreneurs should actually stay away from competitive pricing.
• Why the fastest way to your biggest future is The Strategic Coach® Program.
• The question that will take your clients into the future, and you with them.
• Why you shouldn’t negotiate unless what you’re offering is unique.
• The importance of being attuned to your clients’ futures.

Show Notes:

• Most people don’t like negotiating what their value is with someone else.
• If you’re applying for a job, it’s generally predetermined what the value is of doing that job.
• For entrepreneurs, the combination of time and talent determines the price that needs to be negotiated.
• There’s no right price for anything because all pricing is psychological.
• If your client doesn’t have a big future, your price is a cost. If they have a big future, your price is an investment.
• If you focus on your uniqueness, you aren’t in competition with anyone.
• The toughest obstacle to being a successful entrepreneur is getting to where you feel proud and confident about the ways you've priced your value in the marketplace.
• Many people don’t have a proper appreciation of their own value, and so they don’t like negotiating.
• Some entrepreneurs spend too much time worrying about people who aren’t check writers.
• Pricing is a lot easier if you have no competitors.

Resources:

Capitalism—And Everything Else by Dan Sullivan

The 4 C’s Formula by Dan Sullivan

Unique Ability®

Deep D.O.S. Innovation by Dan Sullivan

Enterprise Value: How the Best Owner-Managers Build Their Fortune, Capture Their Company's Gains, and Create Their Legacy by Peter R. Worrell