In this episode, we had Certified Business & Life Coach, Andrea Liebross, teaching us about understanding and defining what you’re worth! This episode is full of amazing mindset tips to really help your business thrive. Tune in and take notes!
Episode Goodies: Andrea’s Productivity Archetype Quiz
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What You're Worth: Understanding & Defining Your Worth
Understanding your worth, or the value you bring to something is very important when creating and running a business. Most businesses fail in the first two years and one of the reasons behind that failure is this mindset of not believing in yourself or your worth. This week’s guest, Certified Business and Life Coach Andrea Liebross, defines what worth is and how you can build your confidence to grow a successful business.
What is worth? How do you define your worth?
Defining worth is simple but the difficulty lies in separating our self-worth from business value.
Worthiness is how we can define ourselves but business value is the value that you put out into the world through your product or services.
Your self worth is based on 3 beliefs:
- Your belief in yourself as a provider for your services
- Your belief in the value of your offer
- Your belief in the emotional and financial maturity of your client or customer.
Once conflicting thoughts arise in these beliefs, the drama begins. You begin to doubt.
The failure of a business is often due to the doubt raised in the pricing of its services. Is it too much? Should I lower my price? Am I worth it? Who will pay that price? A person will act on these doubts and in turn, revamp their website or increase their email list and following, thinking that it will justify their prices. If you want to justify your worth, change the way you present yourself.
Tangible vs Intangible
People relate worth to something tangible, a product that they can see, feel, and touch. When offering a service, for example Vanessa’s expertise on Pinterest Marketing, it’s often difficult to gauge a price. Why? What you’re offering is intangible, it can’t be seen.
What happens when you doubt your worth?
Andrea offers her 4-step signature process to help people that are stuck in that mindset of evaluating their self-worth:
- Have Unwavering Belief
- Emotional Courage
- Mental Flexibility
- Autonomy over Decisions
Following these steps is vital in setting the right mental foundation when starting and managing a business successfully.
One of the most important things that you do not want to do, when you doubt yourself and your worth, is to question yourself about it. It’s not about you but about your client. If you doubt your services, you’re actually doing them a disservice by taking the chance at a transformation away. Once you understand this, it’s easier to accept that you’re actually undercharging them for a chance to level up their business.
The same applies to product-based services. For example, if you sell cars, think about the experiences and the feelings that you will provide through your product!
You can also apply this to yourself as an employee asking for a raise! You have to trust in the belief that your boss knows you bring value to the company through your work.
How do you believe in the worth of your services as a newbie?
Follow these 3 steps to correct your mindset:
- Think about the transformation you are providing
- Get out of your client’s wallet. Stop assuming you know where they will spend their money!
- Think about the 3 main things you’re helping them save: time, money, and energy!
Present yourself in a way to help your clients understand that they will save time in searching around for someone to provide services for them. Why? Because you will be better at it than anyone else! Help them understand that you’re saving them money in the long run by trial and error with other providers. And finally, you’re saving them energy and the brainpower to look to others with the risk of failure.
In the end having the right mindset will push you towards success and keeping these tips in the back of your mind will stop you from ever doubting your worth again.
About the Author
Sonal Gadkar is a freelance writer for hire, based out of Long Island, New York. She writes long and short-form blog posts, provides content for social media (specifically for Instagram) and more! Need a writer? She’s your gal!