Dec 25, 2017
One major pain point for speakers and consultants is putting a real dollar value on their services. Businesses and business owners often want us to justify our fees so they, in turn, can justify paying them. The best way to approach this is to think about their problems in terms of time – their time – and use the Value Calculation to give them a concrete number of what it will cost NOT to solve the problem.
What is the value of 10 minutes?
How much is 10 minutes worth to your client? It doesn't seem like very much in the short term, but consider how quickly it adds up over the course of a year. It's lost time your client could have spent not worrying about the problem you can solve, and since you're calculating hours, you can put an actual number to the value you bring.
In addition to the lost time, how much more is spent trying to get back to the original task? Once you've done your job for the client, how will your work continue to benefit the company in time saved? What will it cost the company NOT to solve the problem? Teach your client the value of 10 minutes.
Is every problem really a time problem?
Short answer, yes. Virtually every problem either affects time directly, or it affects how people USE their time. Time is the way to frame a problem to get the conversation started.
Why should I teach a client the value of 10 minutes?
Because it's very likely they haven't thought of it that way. You might not be a productivity or time management expert, but that doesn't mean you can't use that thinking to open a client's eyes to how much the problem is costing them.
Doesn't this calculation underestimate the true cost of the problem?
Indeed, it does. Using the calculator, the numbers can balloon, especially when you're figuring multiple people. The point is to have a simple, 'back-of-the-napkin' math to open a dialogue with any client.
Download the free Value Calculator and put it to work. Think about how to include it in a conversation with a potential client and embrace the power of the value of 10 minutes.