Dear 25 year old me,
Today we’re thinking about value. Putting a price on you and what you can offer is tough.
You know that you – and in the same analogy, your business – have a great deal to offer. How though, does one put a fair price tag on this? Are your expectations too high? Or is what you’re settling on too low?
There’s really no answer to this question until you stop thinking in terms of “time for money”.
Time is a metric that you literally cannot stretch any further. Setting an hourly rate for your efforts helps you to breakeven, which is nice, however you become limited by the metric itself. How can you make 24 hours in a day stretch further than exactly that?
What about “quality for money”?
As an employer, you’re limited to how much you can pay a great employee in line with what other businesses pay your business to provide services. Seeing a chicken and an egg scenario, anyone?
It’s the answer to this question that most successful entrepreneurs are able to solve.
In terms of value, the method for measuring an employee compared to a business are quite similar. Over time, sure, hard work and years of experience are things that set an individual (& business) apart. It’s not a metric that has much opportunity to grow, however.
Time is a measurement method that has boundaries. Therefore, a much more sustainable, future-proof method needs to be implemented. The alternative is continuing to run around and around in the same circle.
In truth… Time is limited.
To successfully accomplish growing beyond this limitation, you’ll need to realise that your value can stretch further than the standard methods of measurement. Value is relative.
The value that a great employee can provide to an employer and a fantastic business to another business can’t be measured in a such a simplistic, ad hoc way.
Needs – supply – demand.
You’re much more valuable than you might realise. Once you recognise this and find a method to demonstrate it, the quicker you can prepare to keep earning while you sleep. That’s the ultimate, right? Work smarter, not harder?
Remember, the things we do in life are so that we can live our lives.
We’re still figuring this out fully, kiddo, so stay tuned.