Creating Our Value

Value is a funny thing. We look for it everywhere we go – if it’s not a good value, or doesn’t provide us with benefits, we keep moving. I wonder why it is we don’t feel WE have a value?

Several months ago I spoke to a prospect with a small home-based business. They use a $15/hour person (4-6 per year) to handle their database and eNewsletter. They had high turnover because once they got to the 1099 threshold, they would find someone new. Different concept! The first thing that crossed my mind is that this person had to be spending an awful lot of time interviewing, hiring, and training.

They were unhappy because they were 3-months behind in getting their database updated, weren’t connecting with new prospects, and they were spending at least 3-hours a month going back over the eNewsletter proof to correct assorted problems on a piece that the admin was taking four hours to create.

They charged $200/hour for their services, so I simply said, “So, in essence, you’re spending $660 per month to create this eNewsletter. Are you getting a significant return on it?”

Well that opened up an entirely new conversation. When we started trying to figure out how much time they spent in interviewing, hiring, and training, well, you can imagine!

After three months of working together, their eNewsletter now costs them about $45/month; the database is current, prospect letters are sent within 48-hours of when they met; and we have an extended marketing plan in place. At the time of this writing, sales have increased 37% for this client and we’re talking about adding to the marketing plan.

Why is it difficult for us to remember that our time has value? Don’t sell yourself short. Remember that your time has value and doing it all yourself is really costing you a lot more than your in-house staff and their expenses and liabilities.

What tasks could be outsourced to someone else, leaving you more time to devote to working ON your business instead of IN your business.