In this episode, Jay provides a succinct guide to understanding your value and what you should charge.
We all face the challenge of potentially overcharging for or undervaluing our services in this podcast, Jay provides information we can all use to get it right every time, listen in now to find out more.
- You may be providing a range of different products or services, but the key question is always ‘What should I charge’
- You need to understand what your value is and what you are offering.
- How much experience do you have in the service you are offering? How much value can you bring through your experience and knowledge? Answering these questions will help you to position yourself in the market.
- Look at what you can offer, if your consultancy is going to change a business then it is worth something.
- If you are sending a product to market possibly buy the product to see the funnel as often the initial purchase is the entry level to deeper upselling.
- Detailed research of your competitors is vital in establishing how much you should charge.
- Compiling data about a range of competitors will result in a well-informed understanding of the market.
‘Find out what your competitors are doing’
‘The market will always pay for value’
‘Do the work make the effort’
‘Then you can charge what you are worth’
‘Don’t make a guess’
ABOUT THE HOST
Jay Dhillon is a serial entrepreneur, investor and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0-500 employees and three locations, racking up sales of over £30 million – all without any investment other than a small amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota and New Look, to name a few.
Its huge success inevitably brought about outside interest and at the age of 33, Jay eventually sold the company to a London investment firm in Doyen Resources. Today, Jay owns several businesses in different sectors and helps entrepreneurs achieve success.
A calling to give back and help others led to Jay being chosen for the highly-coveted role as a Prince’s Trust mentor, where his achievements were marked by a personal invitation to Buckingham Palace to meet Prince Charles.
After helping several young entrepreneurs to success as a mentor for the Trust, Jay’s burning desire to bring his wisdom and knowledge to a wider audience ultimately triggered the concept of The Business Mentor Podcast.
Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.
In the UK alone 95% of business fail within the first five years and Jay’s aim is to reduce that number.
Backed with the hard-earned knowledge and experience from his time in business, The Business Mentor Podcast will share Jay’s personal business lessons as well those of other successful entrepreneur guests who share their wisdom and secrets on the show.