sales are generally not a good business idea, unless
you're that person getting things on the cheap and
putting them up on ebay for ten times the
yet, we held a garage sale a couple of weekends ago.
a lot of work for little return. Making $200 for
two 10 hour days of work is just a bit above minimum
wage...but not when there were two of us
somehow working this hard has a psychological benefit of
getting rid of things that you have held on to past the
point you should have. Things that no longer hold any
value to you.
there is another non-financial value of seeing people
light up when they find something they want or need at a
great price! It adds value to where
there may not have been any.
The whole experience certainly
made me think about value and pricing, especially when I
was exhausted, cold and just wondering why we were doing
see, whether you are looking for a job, seeking a
promotion or pricing your services to a customer as an
entrepreneur, how you price yourself for the value you
provide is always a tricky and complicated matter.
Especially if all you are thinking about is the price
instead of value.
daughter reminded me of this when after the garage sale
was finished I asked her how she enjoyed it. She
said that she didn't.
asked her why, she went on to say that she didn't feel
like she had done any important work since no shopper
had given her any attention by asking for a price or for
any help. She felt passed over and
unimportant. Then she went on to say, "and I would
have had to ask you anyway, so what would be the point?"
response surprised her.
said, "First, if you had told people that you were there
to help, they probably would have asked you some
questions. Secondly, if you did go and find me to
find the answer they were looking for, then they would
have had more time to shop. You would be doing
something for them that they now didn't have to do
themselves. That would have been very
described to her was how to create value.
the value that you offer allows you to price yourself
people often first think about price, without fully
understanding their value proposition. Pricing
yourself without fully understanding the value you
create can lead you to give away too much or to
overprice yourself out of an opportunity.
marketing your services to an employer or a customer,
you can't disregard price as part of your overall brand,
since a brand is based on an economic exchange, but you
always need to put it into the context of the value you
are creating for your target market.
For my daughter, understanding
that people who are shopping at a garage sale prefer
looking and digging vs. constantly asking for prices can
create an opportunity for her to deliver against.
Finding a place in which to add value.
This could have provided her
with the important work she was looking for... even if
she wasn't yet naming her price!
will I do another garage sale?
value is more than just a price paid or in this case the
money earned for the time spent. For me, there was
enough non-monetary value created to offset working for
less than minimum wage.
since it provided a meaningful teaching moment for my
about you? Do you know your value?
the ways that you create value both financially and
non-monetarily to get a better understanding of your
true value and it won't be such a tricky and complicated
manner determining your price.
you wondering what your next step should be?
Consider one-on-one business
coaching to help you get clear on what's next and how to
position yourself for success. Contact Laura for
and personalized coaching.
Laura Lopez is an
award-winning author of The
Connected and Committed Leader.
She is also a consultant, and a Birkman Method
certified business coach who has been featured on the
Today Show and Fox News.
In addition, her
accomplishments have been highlighted in several
business periodicals including Personal
Excellence, The Long Beach Business Journal, The Houston
Chronicle, Latina Magazine, and Central Valley Business
Times. Her articles on management and leadership are
regularly seen in Leadership Excellence.
Laura can be
contacted via her Web site at: