How can you Maximize Your Value to Your Market?
Today, I’m on a well needed focus break on the Big Island of Hawaii.
In the last week, I’ve swam with the dolphins, rode horses over the mountains to the coast, snorkled reef after reef and just emptied my mind of all the ‘busy-ness’ that builds up as we all run our businesses.
I’ve also thought of YOU. Quite a bit, I might add.
I don’t take the responsibility of the tens of thousands of you who read my posts, comment, send me messages and feedback lightly. I realize how important your mission AND the need to monetize your mission is to you!
I’m in the midst of writing my first Manifesto about Monetizing your Mission. This post is both your ’sneak peak’ at the process and your opportunity to have input into the Manifesto.
It addresses the two limiting extremes that I’ve observed that inhibits people from reaching a maximum level of fulfillment and profit within their work. I am going to release it in just the next few days, but I’ve been SO inspired by the process that I wanted to write to you today to prepare you for it!
You see, I’ve noticed that too many people either fall to the extreme of pursuing “Missionless Marketing” (that is finding something they don’t even care passionately about and promoting it because they can). And while I have no objection to that philosophy, where is the fulfillment beyond the financial one? I can’t be completely involved in a business where I am not passionate about the transformation it provides in my market…
Many of my readers share the same core desire - to create HUGE transformation in their world.
However, many times we can react to the OTHER extreme. Idolizing our mission so much that we become martyrs. Defending a profitless business as our plight for serving such a noble cause.
IT”S NOT RIGHT!
There is NO DEFENSE for your service operating without an exchange in value.
In fact - the profit you earn is a DIRECT reflection to the amount of value that you create in the world. Hence - no profit, no measurable value (Sorry!)
Someone’s financial investment in your service is their acknowledgement of the impact that it will make on their lives. It’s also a reflection of the spiritual and emotional passion that they ascribe toward your service. If ‘the market is not willing to invest in your service’ to a degree that serves you, unfortunately that means that you are not serving your market in a way that is apparently valuable!
In my upcoming Manifesto, I will be addressing this topic MUCH more deeply and also spelling out in GREAT detail how to change this issue in your Mission-Based business literally overnight!
I’ve watched hundreds of people raise their prices - change the flow of clients toward their service - and begin having MUCH MORE fun serving their Mission by applying the principles I will be sharing here.
What I want from YOU today is - to comment on this Blog Entry and share with me how YOUR business (and your market could be impacted if you operated with MAXIMUM communication of your value to your Market! Also let me know any issues YOU face and I’ll work hard to cover them in my upcoming Manifesto. I want this to revolutionize the way Service Providers communicate value to their markets!
November 15th, 2008 at 4:01 pm
Nice writing. You are on my RSS reader now so I can read more from you down the road.
Allen Taylor
November 15th, 2008 at 4:39 pm
I appreciate your clarification of a conundrum we all face - balancing a perception of value within ourselves, with delivering a reality of value outside to customers. I find that when I stay in “creation” mode, and not reaction mode, the balance stays accurate.
November 15th, 2008 at 4:49 pm
WOW Kevin,
I am inspired and delighted by the sneak peek you have provided in this entry. Even though I am at the beginning of my entrepreneurial journey (following my previous corporate turned public school educator turned full-time mother chapters), I am extremely passionate about Monetizing My Mission and sharing it with the world in a powerful way that is both financially successful and on my own terms.
Your message resonates for me on many levels. I fall into the second category you described - not so much from a place of martyrdom but rather from the perspective of a student who completely embraces the WHAT and the WHY of Monetizing My Mission and is working on identifying the key ingredients for the HOW - to make it all happen. I have the passionate mission, yet I am still seeking the tools to maximize the financial potential.
I was literally struck by the profound truth you expressed in the following two lines:
“The profit you earn is a DIRECT reflection to the amount of value that you create in the world.
Someone’s financial investment in your service is their acknowledgment of the impact that it will make on their lives. It’s also a reflection of the spiritual and emotional passion that they ascribe toward your service.”
It seems so obvious when we are standing in our own freedom - yet it can be easy to forget when our thoughts and actions become clouded by fear or doubt.
So I applaud you for diving into your own passion for crafting this forthcoming manifesto. I am looking forward to the additional wisdom I am sure it will reveal.
Thank you for the powerful work you do and for who you are!
?
Amy Miyamoto
On twitter @LotusAmy
November 15th, 2008 at 4:49 pm
Kevin,
My career is teaching people how to play the great game of golf. My passion is to help people discover their greatness through the great game of golf. I’m trying to completely re-structure people’s experience with learning the game so that they can realize what they’re capable of in golf and everything else.
Looking to break out of the “lessons for dollars” paradigm, and create ongoing relationships with those that choose to go beyond the usual.
I think if I could effectively communicate all I offer, that I could re-invent my own industry, my life experience, and the experience of all those I touch.
Great post
Paul H
Beautiful (snow flurries) CBus Ohio
November 15th, 2008 at 4:58 pm
Glad to see that you and Dorcy are getting a chance to get away and relax. I look forward to reading your Manifesto, Kevin, because I think you are “catching the wave” that is starting to build. Business is changing and the current economic crisis is only going to serve as an impetus for this change. The days of the huge corporation being the dominant economic engine are coming to an end. In my former career, electrical engineering, the old guild pattern of several engineers and designers working for a group of partners in a fixed location is slowly but steadily being replaced by the project specific virtual team concept - a couple of engineers, designers, CAD drafter, and a contracts administrator coming together to do a specific project, reap the rewards and move onto the next project; almost all of it accomplished online from their home offices. Many people are beginning to realize that their expertise and experience is worth much more than company managers are willing to pay and they are striking out on their own. Managers will tell you that they can’t pay anymore because of overhead or shareholders demands for profits, but we are all beginning to see what is really going on here. Big business executives have fallen victim to their own greedy aggregation of ever larger bonuses and perks on the backs of the workers. Technology has restored the sovereignty of the individual worker. Now he needs to discover his own true worth.
November 15th, 2008 at 6:49 pm
I’m moved still from our conversation last week. I reflected a lot on the pain of not charging enough for my services. I have five potential businesses to pitch and what you are saying here locks in the one that I was actually putting the most energy into right now — my career coaching & inspiration business.
I have to say, I kept trying to make the real estate business work, but my heart wasn’t in it. I honestly hated pitching my services, although I liked serving the clients. Then I tried selling the product bHIP Global with several colleagues whom I adore deeply engaged in it. It’s a big “downline” sort of business and I thought i liked it because it is a fun energy drink. But again, my heart wasn’t into it, so i kept falling flat with results.
I write for a living too, and I am still doing that. But I don’t have to try for that, people just find me and pay me to write. So that one is an easy thing that I don’t think about too much.
As I became clear on my gift to the planet right now, I asked God to share with me how I can best be of service. My career coaching business feels like what you’re talking about. I help people get a job, or get focused on what the right job looks like, or let go of resistance to whatever is blocking them from feeling peaceful in their career space.
I increased my prices after we spoke.
It is something about the “right path” that is charging enough for people to value while staying connected to source.
Your words are ringing true and I appreciate it!
One day I wish to swim with dolphins with my entire family in hawaii, too.
Thank you again,
Erica Nelson
November 15th, 2008 at 10:00 pm
Kevin,
Thanks for your insightful observations. I continually try to update my value to my clients. It’s an ongoing challenge - one that energizes me and drives my passion for marketing to new heights. I love all the new information in the marketing space today. I often feel as though I’m the last one to hear about some of new thought leadership perspective and then I’ll chat with a client… I’m ahead of the curve after all!
I’m interested in your perspective on how we can add value by summarizing disparate sources of information and interpreting it in a fresh way for our clients while honoring the thought leaders who are driving the conversation.
Elaine Starling
Starling Media Services, Inc.
November 15th, 2008 at 11:41 pm
Aloha Kevin,
I remember you said on the call that you wouldbe on the Big Island!! Welcome, I live Hilo side.
I also see the corrective change model as we recess over the next years. It is wonderful, the system will offer so many new opportunities,
I am repositioning my business to market a wider range of higher prices widgets and giving my teleconference training for free which maximises satisfaction.
I heard on one of Christine Comaford’s call where she was saying … sell them what they think they want, give them what they really need and then give them a whole lot more!
I have been working on that myself a lot. And it really makes a difference. The group energy is higher and like the pod of dolphins you mentioned you have a lot more fun!
The dusk is setting in the rain forest!
Ben
November 16th, 2008 at 12:23 am
Hey Coach,
Great topic! Especially for us heart centered entrepreneurs. Each year I get clearer and clearer on the value my clients get from our work together and my prices increase accordingly. I do find, however, that a handful of my clients should be charging more for their work, but I know from personal experience that even when I tell them that, until they are ready to embrace their new higher charges, it doesn’t seem to fly. It’s as if they have to be ready.
From our conversation the other night, I gather that you have an alternative perspective, which I’m excited to hear and open to.
It’s funny, as I write this I’m clear that I’m just like them…should be charging a lot more for some of what I provide but just don’t feel all the way “ready”.
Second, my clients and I both seem to also have that lurking concern of wanting to not “price out” people who offer great value, need our help and can’t afford a really big ticket.
Look forward to a new point of view oh wise trail blazer!
Lisa
November 16th, 2008 at 11:43 am
You only have to look at the number of blogs and websites that tail off after the initial enthusiasm to know that you have to be passionate about your subject to keep it going on.. and on.. and on.. I have spent years trying to be something I’m not and only recently did I realize that what I get paid for (quite well I might add) in my day job is what I’m actually good at and also what I enjoy. That is consulting and helping businesses use technology the right way. I hate working for other people, I don’t hate my job. Took me a while to grasp that.
Best of luck and look forward to hearing more from you Kevin.
November 16th, 2008 at 1:11 pm
Your post provked a number of questions I have been asking myself (and as yet am unable to answer satisfactorily!). I am both passionate about what I do and good at it. What I am not so good at is articulating what I offer in a simple and compelling way — it is too broad which makes it fuzzy. I am being coached in defining it so I can market directly to “what my clients think they need/want” so I can then have the opportunity to “tell them what they actually need”.
If your manifesto can help me answer these questions I am all ears!
1. How do I “know” what the “right” price is to charge for my services? I know what the market rate is based on what my competitors are charging. I am neither the cheapest nor the most expensive, but is it all based on a day rate. It’s easy to say raise your rates, but what’s the thinking behind the raise? How will I have to be and think different and what will I have to do differently to get paid those higher rates?
2. How do I transform from a dollars for hours model to a pay for value model, especially when that is the model my clients and their procurement processes are stuck in? I have an unfortunate habit of underestimating what it will take but once I am at work my focus is on delivering what I promised. Sometimes I go back and ask for more and sometimes that just feels out of integrity. But it si a pattern I both want and need to change and I haven’t figured out how to change it.
3. My business has also been entirely word of mouth and I am ready to create an identity for myself in the marketplace. Right now I have no identity out there beyond my clients. I am working on that, but are there ways to do this BOTH quickly and effectively to get to monetizing?
I am sure my questions themselves speak volumes about what I don’t know I don’t know in this whole arena. Not even sure I know how I ended up getting this e-mail but it always seems that when the student is ready the teacher appears. Perhaps you will become one of my teachers.
November 16th, 2008 at 2:13 pm
i would love to make auburn insurance agency llc a gem ; an agency people turn to because they know they are better off than before by having done business with us ; with other agencies saturating the market , i wonder how i can start to make this happen ; increased profitability is of course as important as being highly regarded ;
November 16th, 2008 at 2:31 pm
I love it when “Expansive thinkers” generate additional space for other creative thinkers to join them.
I too am wrapping my mind around how to implement a pay for results program where my service gives life changing results and in a big way.
I look forward to reading your new manifesto!
November 16th, 2008 at 4:02 pm
Hi and thank you… I find, in the material I read, the conference calls I tune into, and the overwhelming amount of “marketing” information that’s out there, that things seem to be so idealistic and thoughtful but not entirely clear. For example, one responder wrote above: sell them what they think they want, give them what they really need and then give them a whole lot more! <– What does that mean???? I need guidance. I love what I do (as a holistic nutrition & wellness coach) and it seems like this is a “specialty service” that people can only afford when they’re wealthy or incredibly sick. Why not all the time? Cooking, shopping, growing your own food, using alternatives to medicines, and coming back to a more natural way of living, eating, and thriving is so important… how can I make it important enough to get paid for it?
November 16th, 2008 at 4:09 pm
Okay, Kevin, I’ll bite. LOL
I’m very passionate about financial literacy and making managing your money simple - no elaborate budget that takes hours a month to figure out and keep updated. Simple system. Easy-Peasy. We also have a 3-part teleseminar series (recorded, e-book in process) Credit Scores: Insider Secrets from an Expert–Your Blueprint for Perfect Credit and Lower Interest Rates. Who doesn’t need that, right? It’s amazing how much money is “going out the door” in higher interest rates because of Universal Default (even one day late — no more “grace periods”) and two other laws passed under our noses. The general public doesn’t know these things, but they should!
I am admittedly not a marketeer. BUT I am passionate about helping people not only save money by being informed, but methodically growing their stash by simple methods.
SO, I’m looking forward to reading your manifesto!
November 16th, 2008 at 6:33 pm
Aloha Kevin!
I was already very excited to start working with you on Tues. Now…oh my gosh! I had been struggling about what my “Big Ticket” program should be…instead I look at it as what type of transformation do I want to make. Once I addressed that (which came very easy) the process to accomplish this was very clear.
I’m now even more excited about the people lives I’m going change…actually I’m not going to change anybody’s life, they are going to do the changing, I’m going to provide the environment for that to happen.
I’m in 100% resonance with your message and I’m looking forward to working with you so that all of us can be the change we want to see.
To Your Inner Strength,
Gregg Swanson
November 16th, 2008 at 8:18 pm
Dear Kevin,
Thank you for your post. For those of us in the helping/healing professions, thinking about marketing and pricing our services can be particularly challenging (it doesn’t come naturally to many of us). Adopting a mindset that it is ok to expect to be adequately compensated for our services and for living our mission, and learning to effectively communicate the value of what we do (and keeping in mind that without attending to the business part, we can’t even go on offering the services that benefit our clients) are areas many of us are working on. It is a work in progress for me, and I certainly appreciate the reminder!
Shahrzad Arasteh
November 17th, 2008 at 1:47 am
Hi Kevin:
Our conversation last week has had a profound effect on how I need to communicate best to my market. You made clear that if my market truly realized what it’s costing them to stay where they are then they would certainly pay more!
Above, you wrote: If ‘the market is not willing to invest in your service’ to a degree that serves you, unfortunately that means that you are not serving your market in a way that is apparently valuable!
In thinking of my business your point opens my eyes to the fact that I’m not fully COMMUNICATING my value because I’m not articulating to my market what their “pain” (your word) is.
I’m eager for your Manifesto. Thanks again for sharing.
Best of Energy!
Ashley
November 17th, 2008 at 5:10 am
i am a part of this world & you know the situation.
thanks a lot.
November 17th, 2008 at 5:12 am
Thanks
November 17th, 2008 at 6:22 am
Hi Kevin,
thanks for sharing your Aloha photos etc- inspiring. You are amazing not even a switch off from twitter or email while your are holidaying.:)
This resonated for me- and I see many other readers- my passion for many years has been to make a true difference in the world-to walk a different path
“Many of my readers share the same core desire - to create HUGE transformation in their world.
However, many times we can react to the OTHER extreme. Idolizing our mission so much that we become martyrs. Defending a profitless business as our plight for serving such a noble cause.”
profitless hit a chord with me- yet I know from what I read and feedback I get I inspire and I want to continue to do that with out losing momentum-
as well as profit so i can continue to feed my soul so I can truly make a difference
I Thank Mari Smith for introducing you to me and i look forward to working with you
November 17th, 2008 at 11:37 am
Great words of wisdom Kevin (as usual)!
You certainly understand the business model of Value in the Marketplace. Once someone realizes exactly the value that they bring to a client - what they do does for their client - that’s when raising their fees happens.
You are a Master at helping people unveil their own Value and giving them the ability to raise their fees to match their service (value).
See you soon!
Bill Covert
Accelerator for Success
November 17th, 2008 at 12:20 pm
Hi Kevin
Great points worth thinking about.
As business growth specialists, we’ve
continually raised our prices and rates
over the last 2 years. So far, almost no
objections from cleints and prospects!
Appreciate more details on what type of
content and communication is MOST
effective, by priority.
thanks,
Des
November 17th, 2008 at 2:02 pm
WOW! Thank you thank you for your powerful responses.
Many of you are already impacting your markets powerfully (I know) and others are soon to (I can see)!
I can’t wait to share this Manifesto with you soon and have each of US step up higher and higher to the pinnacle of success that our respective Missions demand.
Kevin
November 17th, 2008 at 2:24 pm
Well done Kevin!! Can’t wait for the Manifesto to be released. I really resonate with your comments on “missionless marketing”. It is so true!
I’m currently writing a book called “Soulful Networking” that is very much in line with what you’re sharing here particularly on the impact AND profit we can create - together - when we connect based upon a shared passion/purpose/mission. I’d love to speak with you further on this… perhaps quote you in the book
Enjoy your remaining time in Hawaii and I’ll be watching for your Manifesto!
My Best,
Gina
November 18th, 2008 at 4:27 am
Hello Kevin,
since I participated in your Big Tecket Call with Mari Smith -July 15 - I knew I had to wortk with you. This was the most amzing Telecast I ever was in. I know about the work of Jay Abraham too. it seems what you and Mari communicated can be a breakthrough to values based Joint Ventures. To change with purpose. For a new generation.
For 10 years now I am searching for answers -real results focused answers! - how to bring values to the market. How to create impact in a changing world with values.
Transforming my life, aligning passion, people, planet, purpose and profit.
To do it in a joyful way. Playfully, yes. but absolutely committed to all the work too.
Will email you personally too and ready to learn more about your 2009 perspectives and projects. And to check out how we can cooperate.
Best,
Albert
November 18th, 2008 at 7:33 am
This is the perfect message for me at this time.
They say that when you are ready for the lesson, the teacher will appear. You’re here and I’m ready. I’ll be meeting you in San Francisco at the seminar this week, I hope.
I am so ready to get honest, get help and work the program to success.
I look forward to all that you have to share. Thank you. Mary Ross
November 18th, 2008 at 9:11 pm
I have been getting that lesson over and over lately. Working on putting into practice. Love the advice and you are right.
November 24th, 2008 at 12:58 pm
I appreciate the fine-tuning of focus that you provide. My company is new. We are right now creating all of our communications including our website, offers and ads. We do want to be perceived as offering the greatest transformation and value to our market, and by my market so I look forward to reading more from you that will help us achieve just that! I have a big agenda for my business and I need big profits to make it all happen.
Thank you, Kevin.
I am tuned in.
Leannie
BLUE EGG ENTERTAINMENT
November 28th, 2008 at 9:45 am
Excellent comments and thoughts. Reading your post made me feel you were talking directly to me, as of late. I’ve allowed myself to get out of focus, and therefore deliver less value to my market. No worries, borrowing a quote from above, I am bringing the light of my message back to the searing heat it was three weeks ago.
Thank you,
Mark
PS I look forward to your full-length Manifesto.