That eventful night, right after I was done with day job shift, I was about to land on Netflix for the last season of The Vikings, when that day’s Quora digest caught my eye.
Especially, one question: “How can we become rich?”
Who does not want to! Out of curiosity, or perhaps, spontaneity, I ended up on the thread. One answer was rather interesting, which approached the whole question in a whole different light.
He broached in Socrates’ quote, “The beginning of wisdom is the definition of terms.” So, what is the meaning of money? As per Merriam Webster, money is defined as: “something generally accepted as a medium of exchange, a measure of value, or a means of payment.”
In other words, money is what someone gives you in exchange of the VALUE you give to that person. To understand the meaning of the term ‘value’, let’s hit the dictionary again.
As it goes, value is defined as: “something of worth, utility or importance; something desirable.”
Do you see where I am getting at?
Your paycheck, your fees or your salary is directly proportional to the utility of the service you are providing.
If your one-liner ad is capable of bringing THOUSANDS of dollars in revenue, you can charge hundreds for that piece.
Going by the same logic, if you can write an article and help the client get it ranked higher on the search engines, you are providing bigger value than most of your peers could. You can charge $999 for the same piece (writing + SEO) whereas your peers would probably get an average of $250 for the same.
Takeaway: When pitching to a client, first ascertain the monetary value of the service you are providing. Then start negotiating.