Tara Joyce of the Elastic Mind joins us from Canada. Tara is fascinated by character, communication, connection and culture. Tara uses and has written extensively on – Pay what it’s worth pricing.
What if the customer set the price?
Tara was and is confident in value of what she provided.
How do you communicate the value where you don’t set the price? Tara felt she would devalue herself in previous conversations.
People both undervalue and also over-value themselves. We talk a lot about the problem of undervaluing, but it is also an issue where they over-value themselves.
Tara started, pay what you’re worth’s pricing with services, not products.
It works based when the intention of both people is clear in the transaction.
Create systems to deal with customer selection. This means 1. accountability – It needs to be present that the customer and you are accountable for the service and 2. disclosure – you must provide as much information and transparency as possible.
Both people are responsible for the exchange.
Tara has had people take advantage of this pricing, but regard that not as a negative, but rather as a piece of information to adjust your system.
The relationship is the foundation of pay what it’s worth pricing. Too often, relationships are based on power over or power under, but if you have a true, caring, intimate relationship with your customer then pay what it’s worth pricing will generate a far better outcome.
It is a tool to understand value.
Not – Pay what I am worth. Our worth is not measured by a number.
1. What is your intention? – It is going to be communicated.
2. Be mindful of communication.
3. Do your best work.
Communication. What are you asking people to value?
Innerpreneur – building a business from the inside out. Building a business that you’re passionate about. Passion is a tough conversation and in general, people don’t see it as a priority.
Tara’s website – Elastic Mind
Twitter – @Elasticmind