Our washing machine stopped working a few months ago. It stopped draining water in the middle of the spin cycle.
This was in the middle of the lockdown, so it wasn’t the best timing.
I’m not much of a handyman, but I looked up the error code on Google and discovered that the most likely cause was a clogged or damaged drain pump.
That’s when Macho Ed kicked in. “I can do this!” I told myself.
I took the thing apart, got to the drain pump … and nothing. It was clean.
So now what?
Do I consult the internet again and try this again myself? Or do I call in an expert?
In this podcast episode, I relate the story of our washing machine repairs… a Friday night “driveway happy hour”… and what all this has to teach us about pricing our services and understanding our value.
The notes that follow are a very basic, unedited summary of the show. There’s a lot more detail in the audio version. You can listen to the show using the audio player below. Or you can subscribe in iTunes to get this show delivered straight to the Podcasts app on your smart phone, tablet or iPod.
To make a short story even shorter… we finally got our washing machine working again.
And the fix didn’t come from me or a professional repair person.
Instead, it came from a simple trick suggested by my next door neighbor.
So what does all this have to do with pricing and value?
What’s a Solution Worth to Your Clients?
It took my neighbor all of two seconds to think about the problem and present a solution.
A solution that worked instantly.
Now, say my neighbor was a content marketing writer, and I was a client.
And say my problem wasn’t a washing machine but something to do with my content marketing.
And after listening to me for a couple of minutes, my “writer” neighbor gave me a suggestion that worked.
If the solution solved a $50,000 problem (just to put a number to it) — would I feel cheated if the consultant invoiced me for, say, $2000?
Not at all!
Yet few of us would be willing to send that invoice.
Why? Because we think too much about time and effort and not enough about our value.
We think too much about time and effort and not enough about our value.
So we price based on how long it took us to complete a project.
We discount all the years we spent learning, studying, and practicing.
And we discount the value we deliver.
We have to minimize that kind of thinking.
Remind yourself — time is NOT the most valuable thing.
It’s your applied knowledge and expertise that’s important.
And that’s true whether we’re talking about content marketing — or washing machines.
By the way… whenever you’re ready, here are 4 ways I can help you grow your freelance business:
1. Grab a copy of my book for ESTABLISHED writers.
You’ll discover a different way to think about your challenges during this crisis. Plus you’ll get clear recommendations to get you through the storm safely … and to come out the other side stronger than ever. — Click Here
2. Download a free copy of my book for writers who are NEW TO FREELANCING.
I’ll show you the 3 things you need to do to get your business off the ground safely and land your first paying client faster. — Click Here
3. Join my implementation program and be a case study.
I’m putting together a new implementation group this month. If you’d like to work with me to grow your income quickly with better clients (and become one of my new success stories) … just hit reply and put “Case Study” in the subject line.
4. Work with me privately.
If you’re a 6-figure writer who’s trying to earn more in less time, with less stress, I might be able to help you get there faster than you think. Just hit reply, put “Breakthrough” in the subject line, and I’ll back to you with more details.