Today is my birthday.
And I’m going to give myself a gift that I’d like for you to give yourself, as well.
Stop undervaluing yourself.
Last week, I had a speaking gig opportunity that I was really excited about. I received an email through my website asking if I could come speak for an hour for a state REALTOR® association. It would be at their first in-person event in over a year, which they were all really excited about, and the plan was to get the workshop approved as an official CE course.
If you know me, you know my family has been in real estate for a couple decades and it’s also a passion of mine. You probably don’t know, though, that I’ve worked with the National Association of REALTORS®, NC REALTORS®, and many other real estate companies.
I love it. And I was excited about this job.
Maybe that’s why I made the mistake. Or maybe COVID had my game off, since I hadn’t done an in-person speaking gig in quite a while.
But I underbid myself by quite a bit.
So much so that the coordinator said “Rain, that’s not enough. I’ve seen you speak before.”
I got the gig, still, and the coordinator even went above my asking price, which was completely gracious and generous of him. But I was embarrassed.
I’m usually pretty good about asking for what I’m worth.
This is what allowed me to go from my first public speaking job (which was unpaid) in the basement of a public library in October 2018, to a five-figure fee for a national keynote in July 2019, just nine months later.
But when you don’t value yourself and charge what you’re worth, it tends to have the opposite effect that you may have intended. Many times, when people low-ball their quotes, it’s to show that they are willing to work with the company, or to try and make sure they underbid competitors. It usually means they really want the job.
What it really says to the client, though, is that you’re either 1) not confident in your ability, or 2) not as experienced or qualified as they thought.
People perceive price as an indicator of value.
If you charge less, they psychologically assume you (or the product) is worth less.
On the flip side, it is so hard to have the confidence to boldly proclaim what you are worth and stand by it. Our insecurities mess with our minds a lot. I know a lot of my peers, colleagues, and mentees also struggle with this issue.
To combat it, there are two things you must do.
First, do your due diligence to understand the market rates and ranges for experience levels.
This is hard because it varies widely, is often subjective, and people can be very cagey and opaque with the information. Do your research. Learn from others in your field.
But after that, and this is way harder, once you know the right range for your experience level, then you have to quiet that voice of scarcity in your head and believe in your worth.
Stand confidently in your quote. And be ready to stand your ground if your worth isn’t acknowledged. Know that you will bring the value to your client that you claim you will.
But then… It’s on you to deliver it.
Rain Bennett is a two-time Emmy-nominated filmmaker, writer, and competitive storyteller with over a decade of experience producing documentary films that focus on health and wellness. His mission is simple: to make the world happier and healthier by sharing stories of change.
You can read the rest of “Right as Rain” here, and check back every Wednesday on Chapelboro for a new column!
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