It's Not What You Think
Wasn't this video something?
"No one will ever pay you what you're worth,
They'll only ever pay you what they think you're worth.
And you control their thinking;
By clearly defining and communicating your worth."
I put up this video to watch first because I am making the assumption that I am speaking to a purpose-driven, value-based, and value-adding leader that repeatedly delivers excellence.
In other words,
My assumption is that you create great value for your employer or clients.
The only challenge then, is getting paid what you want.
Casey Brown gave you the first strategy to getting paid what you want:
1. Define & Communicate Your Worth.
This takes actual calculation and articulation of the value of the solution you uniquely bring to your employer or clients.
Pro Tip: Do this when you are not under pressure, not in the moment of the negotiation, or, you will likely agree to terms you will later regret.
For example: Before a job interview, before a performance evaluation meeting, before drafting or reviewing a draft for a business contract.
2. Prepare Terms Together
My Executive Coaching Certification Trainer, Andrew Neitlich, said that he never sends proposals to clients he is about to work with. Instead, he asks of their availability to sit down together to discuss the terms of the engagement they are about to enter into.
His rationale is that sometimes "send us a proposal" is just an excuse others use to avoid saying no upfront, taking the proposal you submit only to benchmark with others, or an exercise in futility because there is no seriousness or urgency to engage you or your business.
Creating new or tailoring existing terms of employment or business engagement together, fosters a greater understanding of work scope, your investment, KPIs, and delivery metrics.
This, in turn, elevates the employer or client's estimation of your contribution and thus value, allowing you to also name a price that is commensurate to the return on investment you will generate for them.
Pro Tip: Know your non-negotiables and deal-breakers so that you can determine beforehand how far you are willing to compromise, and when it's time to leave the table.
Check out this video on Deal Breakers: Negotiate or Walk-Away?"
Love it: Subscribe, and Share with your largest WhatsApp Group.
Hate it: Subscribe, Share it with your largest WhatsApp Group, and let me know in the comments.
3. Get Marketing Mileage
You may not get paid what you want (or at all) sometimes but, you can ALWAYS get marketing mileage out of it.
"Modesta, I thought the point was to get paid what I want, period."
It is, and you will. Just stick with me.
You may get strategic opportunities that although not lucrative at first, could potentially help you earn many times your initial ask.
What's key is to know how to position today, to profit tomorrow.
Pro Tip: Here's a proven approach to get marketing mileage today, and mula (money), tomorrow:
1. Let the employer or client (they really are the same) know what your asking price is and that what you are agreeing to is a compromise (state the exact figure in your currency or percentage deviation from the ideal figure you wanted).
2. Tell them you are making an exception for them (so they shouldn't advertise this amount to others) as an investment towards the future on one or more of these terms:
i. They refer you to others (specify exactly who if you know the size and value of their network).
ii. They profile you and or your brand as far as it is related to the work you do together and you can do the same (when you engage with a reputable brand, it goes far to reference your association with them).
iii. They revise and increase your pay after a specific delivery, period, or other defined condition is met.
3. Ask for written or video testimonials, recommendations you can share on your CV, Bio, LinkedIn Profile, website, etcetera, to showcase your value add and attract other high net worth engagements.
Not Getting Paid Your Worth?
Need help with preparing and positioning for your next-level income?
Click the link below to book a Consultation Call with Modesta.