EP Replay: Stop Trading Time For Money
Growing up and starting to work, I remember my first job paying me $7.50/hour. At the time, that is all you know, because that is all that is taught. You work and get paid for your time. As you get older, you get paid more based on the job and work and so on. This is what is taught, so this is what we think is the norm.
A few years ago, I remember hearing people being paid over $500/hour and thinking WOW, they must be doctors and lawyers, or they must have a crazy skill set. How amazing would that I be, I wish. For most people listening, this is the case, it was hard to imagine people being paid like that. I heard people being paid to speak on stage for 40K and thinking, how the hell does that work. $40K per hour, that is something I can’t comprehend. What does that come with, a gold bar?
As I began to learn more and understand the value and idea of money, I started to realize top performers and earners, think differently about time and money. Firstly, they don’t value money in the same way as we do. It is just a thing to play with, they don’t overvalue or undervalue money, they respect it but treat it almost like monopoly money. In monopoly, we take risks, we try and get ahead always, we don’t sit back. Now, sometimes we lose, but we also win, and win big. Their goal is to get ahead and win.
Time is not to trade. Time is the most valuable thing we have. Time is cherished, used wisely and not thrown around for the sake of making money. See, they don’t trade time for money, they trade value for money. I found this to be such an interesting way at looking at it. The value you are delivering, what is it worth to the audience, customer, etc. By me helping solve this problem, how much money does it save, how much will it help them gain? These are the questions they are asking.
Now, I get it, charging high rates can be frightening but it is also freeing. You need to understand your value to the marketplace. You need to be sold on that value. If you don’t think you’re worth a certain price, you probably aren’t. So, how can we determine our true value? Well, if you are interested, I’ve created a free worksheet for you, just go to dgp.com and send me an email asking for it.
This concept is simple, you’ve probably heard of it but implementing it, although scary, is incredible. I went from 2 years ago, charging $200/hour to know sending invoices for over $5K for only a few hours work.
See, when your perception of yourself changes, so does the perception of the marketplace. You attract high paying clients, a more driven and successful type of person and in doing so, you are able to make a bigger impact and get your clients amazing results. Your focus isn’t on time, it is on value. How can I provide them with the best value ever? You start to ask yourself, how can I make this more valuable to charge higher rates? You realize time is not what people and businesses pay you for, it is value.
So, I want you to ask yourself what is my value? Be honest! If you want to make more money or help more people, focus on creating more value and I promise the money will follow.
Again, if you want to grab that workbook, go to dgp.com and get your free copy to find your true value.
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