‘Value’ is the way one considers importance, worth and usefulness of something or someone. An emotional or monetary consideration is placed, when estimating or appraising value.
How do you value your service to others? Do you base your value based on others, competitors or ‘perceived’ accepted market value? As you consider this, how do you measure your value to yourself? The reasonable expectation of others is based on custom, beliefs and personal gain. Therefore, what is acceptable for one person, may not be the bar that another considers reasonable if there are major differences present.
Entrepreneurs and business people start their businesses with ideas of ‘real value’ until they get to market, and suddenly reality steps in. Adjustments are needed to be competitive and confidence is needed – to avoid undervaluing offer. Its easy to make changes when conditions become desperate and ‘survival needs’ adds pressure. Staying strong while negotiating and leveraging value, is something one should learn early in this journey. Flexibility does not mean undervaluing what you have to offer. It means positioning and getting your strategy sufficiently ready for your value to be received.
Remember, everyone wants to be rich, but riches to everyone is not the same. Take time to understand what is valuable to the buyer before you give away your value!
Enjoy your valuable day!
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