How to Name Your Price with Value

March 8th, 2017 | by College AD
How to Name Your Price with Value
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Value

In a previous article, we explored the contrast between excellence as it compares to experience alone. One of the key takeaways centered on the importance of not allowing your compensation level to determine the amount of value you supply or lack thereof. In this follow-up piece, we continue that narrative by exploring a core marketing concept as it applies to career advancement.

Last year at a conference, I gleaned a critical piece of advice that forever changed my perspective on career advancement. One of the panelists spoke in great detail about the importance of having an “and also” attached to your brand. That is to say, aside from what is outlined in the job description, what else are you able to offer the organization? This, in essence, may be regarded as your professional value proposition (PVP).

Often referred to as a unique value proposition (UVP), your professionalvalue proposition is merely your brand covenant manifested in your behaviors, character, and worth to your team. It is that one trait, or collection of traits, that lends you a competitive advantage over others vying for the same job opportunities.

In other words, if everyone is a superstar, how do you distinguish yourself from the rest of the group?

Answer: By conveying your professional value proposition to the leadership.

Value Source: Will Baggett (Executive Image Presentation)

Value propositions are at the core of every interaction in our personal and professional lives. Whether we are selecting friends or prospecting mentors, we subconsciously assess the benefits others may add to our lives compared against any potential costs. Essentially, at any time someone is preparing to spend his time or money, the following question arises:

Why should I listen to, buy from, (or in this scenario) hire YOU?

Taking the Japanese business principle of Kaizen into account, which professes the continuous improvement of working practices and personal efficiency, an example of a great PVP may involve one’s ability to produce at a higher level, with fewer resources, and in less time than the average person.

Value

This rare combination of execution with efficiency makes for a highly attractive value proposition in the eyes of hiring managers. Over time, and with consistency, this mere proposition will evolve into your professional brand promise.This very promise is what will lead employers to call upon you in particular when opportunities come available, and not necessarily the cheapest or most accessible option.

After all, once you know your value, you can begin naming your price.

If your athletic department is interested in booking an Executive Image training seminar, please contact me for more information.

About Will BaggettWill Baggett

Will BaggettStrategic Brand Management–IMG-CLC,is an honor graduate of both the University of Mississippi (2012) as well as Baylor University (2014). He began his career as a graduate assistant with the American Football Coaches Association (AFCA) and later completed an internship with the Chick-fil-A Peach Bowl. He is the author of The Blueprint for a Successful Careerand recently founded The Executive Image, a professional presence and strategic communication training program. A self-proclaimed “high school has-been” basketball player, Will resides in Atlanta, Georgia.

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