1
00:00:17,420 --> 00:00:19,460
No one will ever pay you
what you're worth.

2
00:00:22,540 --> 00:00:24,876
No one will ever pay you

3
00:00:24,900 --> 00:00:26,100
what you're worth.

4
00:00:28,500 --> 00:00:30,436
They'll only ever pay you

5
00:00:30,460 --> 00:00:31,841
what they think you're worth,

6
00:00:33,100 --> 00:00:34,660
and you control their thinking,

7
00:00:36,260 --> 00:00:37,460
not like this,

8
00:00:38,180 --> 00:00:39,516
although that would be cool.

9
00:00:39,540 --> 00:00:41,156
(Laughter)

10
00:00:41,180 --> 00:00:42,460
That would be really cool.

11
00:00:44,060 --> 00:00:45,300
Instead, like this:

12
00:00:46,060 --> 00:00:51,296
clearly defining and communicating
your value are essential

13
00:00:51,320 --> 00:00:53,200
to being paid well for your excellence.

14
00:00:54,190 --> 00:00:55,790
Anyone here want to be paid well?

15
00:00:56,750 --> 00:00:58,046
OK, good,

16
00:00:58,070 --> 00:00:59,550
then this talk is for everyone.

17
00:01:00,390 --> 00:01:02,366
It's got universal applicability.

18
00:01:02,390 --> 00:01:05,886
It's true if you're a business owner,
if you're an employee,

19
00:01:05,910 --> 00:01:07,366
if you're a job seeker.

20
00:01:07,390 --> 00:01:09,190
It's true if you're a man or a woman.

21
00:01:09,990 --> 00:01:13,526
Now, I approach this today through
the lens of the woman business owner,

22
00:01:13,550 --> 00:01:16,950
because in my work I've observed
that women underprice more so than men.

23
00:01:20,050 --> 00:01:23,226
The gender wage gap is
a well-traveled narrative in this country.

24
00:01:24,190 --> 00:01:26,286
According to the Bureau
of Labor Statistics,

25
00:01:26,310 --> 00:01:31,566
a woman employee earns just 83 cents
for every dollar a man earns.

26
00:01:33,390 --> 00:01:34,806
What may surprise you

27
00:01:34,830 --> 00:01:38,446
is that this trend continues
even into the entrepreneurial sphere.

28
00:01:38,470 --> 00:01:43,566
A woman business owner earns just
80 cents for every dollar a man earns.

29
00:01:45,025 --> 00:01:47,426
In my work, I've often heard women express

30
00:01:47,450 --> 00:01:50,226
that they're uncomfortable
communicating their value,

31
00:01:50,250 --> 00:01:52,410
especially early on in business ownership.

32
00:01:53,640 --> 00:01:55,176
They say things like,

33
00:01:55,200 --> 00:01:56,880
"I don't like to toot my own horn."

34
00:01:57,720 --> 00:01:59,760
"I'd rather let the work
speak for itself."

35
00:02:00,680 --> 00:02:02,490
"I don't like to sing my own praises."

36
00:02:03,280 --> 00:02:06,776
I hear very different narratives
in working with male business owners,

37
00:02:06,800 --> 00:02:10,000
and I think this difference
is costing women 20 cents on the dollar.

38
00:02:11,560 --> 00:02:13,976
I'd like to tell you the story
of a consulting firm

39
00:02:14,000 --> 00:02:17,216
that helps their clients
dramatically improve their profitability.

40
00:02:17,240 --> 00:02:18,640
That company is my company.

41
00:02:19,760 --> 00:02:22,936
After my first year in business,
I saw the profit increases

42
00:02:22,960 --> 00:02:25,440
that my clients were realizing
in working with me,

43
00:02:26,360 --> 00:02:28,920
and I realized that I needed
to reevaluate my pricing.

44
00:02:29,840 --> 00:02:32,880
I was really underpriced
relative to the value I was delivering.

45
00:02:33,560 --> 00:02:36,720
It's hard for me to admit to you,
because I'm a pricing consultant.

46
00:02:37,240 --> 00:02:38,936
(Laughter)

47
00:02:38,960 --> 00:02:40,176
It's what I do.

48
00:02:40,200 --> 00:02:42,000
I help companies price for value,

49
00:02:43,040 --> 00:02:44,656
but nonetheless, it's what I saw,

50
00:02:44,680 --> 00:02:48,560
and so I sat down to evaluate my pricing,
evaluate my value,

51
00:02:49,320 --> 00:02:52,200
and I did that
by asking key value questions.

52
00:02:52,960 --> 00:02:55,656
What are my clients' needs
and how do I meet them?

53
00:02:57,432 --> 00:03:01,272
What is my unique skill set that makes me
better qualified to serve my clients?

54
00:03:02,360 --> 00:03:04,040
What do I do that no one else does?

55
00:03:04,860 --> 00:03:07,496
What problems do I solve for clients?

56
00:03:07,520 --> 00:03:08,960
What value do I add?

57
00:03:10,560 --> 00:03:12,336
I answered these questions

58
00:03:12,360 --> 00:03:15,976
and defined the value that my clients
get from working with me,

59
00:03:16,000 --> 00:03:17,856
calculated their return on investment,

60
00:03:17,880 --> 00:03:20,560
and what I saw was
that I needed to double my price,

61
00:03:21,640 --> 00:03:22,856
double it.

62
00:03:24,180 --> 00:03:27,620
Now, I confess to you, this terrified me.

63
00:03:29,340 --> 00:03:32,020
I'm supposed to be the expert in this,
but I'm not cured.

64
00:03:32,820 --> 00:03:34,356
I knew the value was there.

65
00:03:34,380 --> 00:03:36,396
I was convinced the value was there

66
00:03:36,420 --> 00:03:38,230
and I was still scared out of my wits.

67
00:03:38,980 --> 00:03:40,956
What if nobody would pay me that?

68
00:03:40,980 --> 00:03:43,236
What if clients said, "That's ridiculous.

69
00:03:43,260 --> 00:03:44,460
You're ridiculous."

70
00:03:45,460 --> 00:03:46,660
Was I really worth that?

71
00:03:48,180 --> 00:03:49,740
Not my work, mind you, but me.

72
00:03:51,484 --> 00:03:52,764
Was I worth that?

73
00:03:56,860 --> 00:03:59,916
I'm the mother of two beautiful
little girls who depend upon me.

74
00:04:02,580 --> 00:04:04,076
I'm a single mom.

75
00:04:05,469 --> 00:04:06,669
It's all up to me.

76
00:04:08,860 --> 00:04:10,460
What if my business fails?

77
00:04:14,240 --> 00:04:15,440
What if I fail?

78
00:04:22,470 --> 00:04:24,350
But I know how to take my own medicine,

79
00:04:25,270 --> 00:04:27,806
the medicine that I
prescribe to my clients.

80
00:04:27,830 --> 00:04:29,526
I had done the homework.

81
00:04:29,550 --> 00:04:30,990
I knew the value was there.

82
00:04:31,910 --> 00:04:33,430
So when prospects came,

83
00:04:34,590 --> 00:04:37,606
I prepared the proposals
with the new higher pricing

84
00:04:37,630 --> 00:04:38,926
and sent them out

85
00:04:38,950 --> 00:04:40,236
and communicated the value.

86
00:04:41,654 --> 00:04:42,854
How's the story end?

87
00:04:44,070 --> 00:04:46,046
Clients continued to hire me

88
00:04:46,070 --> 00:04:48,430
and refer me and recommend me,
and I'm still here.

89
00:04:50,270 --> 00:04:51,526
And I share this story

90
00:04:51,550 --> 00:04:53,990
because doubts and fears
are natural and normal.

91
00:04:54,630 --> 00:04:57,086
But they don't define our value

92
00:04:57,110 --> 00:04:59,310
and they shouldn't limit
our earning potential.

93
00:05:01,790 --> 00:05:03,566
I'd like to share another story,

94
00:05:03,590 --> 00:05:06,406
about a woman who learned
to communicate her value

95
00:05:06,430 --> 00:05:07,629
and found her own voice.

96
00:05:09,190 --> 00:05:11,566
She runs a successful
web development company

97
00:05:11,590 --> 00:05:12,876
and employs several people.

98
00:05:13,830 --> 00:05:17,046
When she first started her firm
and for several years thereafter,

99
00:05:17,070 --> 00:05:20,030
she would say, "I have
a little web design company."

100
00:05:21,070 --> 00:05:23,606
She'd actually use
those words with clients.

101
00:05:23,630 --> 00:05:25,430
"I have a little web design company."

102
00:05:26,590 --> 00:05:28,406
In this and in many other small ways,

103
00:05:28,430 --> 00:05:32,326
she was diminishing her company
in the eyes of prospects and clients,

104
00:05:32,350 --> 00:05:33,590
and diminishing herself.

105
00:05:35,270 --> 00:05:38,310
It was really impacting her ability
to earn what she was worth.

106
00:05:39,310 --> 00:05:42,206
I believe her language and her style

107
00:05:42,230 --> 00:05:44,486
communicated that she didn't believe

108
00:05:44,510 --> 00:05:45,844
she had much value to offer.

109
00:05:48,030 --> 00:05:50,990
In her own words, she was practically
giving her services away.

110
00:05:52,270 --> 00:05:54,566
And so she began her journey

111
00:05:54,590 --> 00:05:57,766
to take responsibility
for communicating value to clients

112
00:05:57,790 --> 00:05:58,990
and changing her message.

113
00:06:00,790 --> 00:06:02,286
One thing I shared with her

114
00:06:02,310 --> 00:06:04,366
is that it's so important

115
00:06:04,390 --> 00:06:05,886
to find your own voice,

116
00:06:05,910 --> 00:06:07,966
a voice that's authentic and true to you.

117
00:06:07,990 --> 00:06:11,686
Don't try to channel your sister-in-law
just because she's a great salesperson

118
00:06:11,710 --> 00:06:14,830
or your neighbor who tells a great joke
if that's not who you are.

119
00:06:15,910 --> 00:06:18,366
Give up this notion
that it's tooting your own horn.

120
00:06:18,390 --> 00:06:20,126
Make it about the other party.

121
00:06:20,150 --> 00:06:23,430
Focus on serving and adding value,
and it won't feel like bragging.

122
00:06:24,670 --> 00:06:27,286
What do you love about what you do?

123
00:06:27,310 --> 00:06:29,406
What excites you
about the work that you do?

124
00:06:29,430 --> 00:06:32,830
If you connect with that, communicating
your value will come naturally.

125
00:06:34,750 --> 00:06:37,006
So she embraced her natural style,

126
00:06:37,030 --> 00:06:39,190
found her voice and changed her message.

127
00:06:40,350 --> 00:06:44,326
For one thing, she stopped calling herself
a little web design company.

128
00:06:44,350 --> 00:06:48,190
She really found a lot of strength
and power in communicating her message.

129
00:06:49,510 --> 00:06:52,446
She's now charging three times
as much for web design

130
00:06:52,470 --> 00:06:53,804
and her business is growing.

131
00:06:55,110 --> 00:06:56,766
She told me about a recent meeting

132
00:06:56,790 --> 00:06:58,966
with a gruff and sometimes
difficult client

133
00:06:58,990 --> 00:07:02,590
who had called a meeting questioning
progress on search engine optimization.

134
00:07:03,710 --> 00:07:04,926
She said in the old days,

135
00:07:04,950 --> 00:07:07,726
that would have been
a really intimidating meeting for her,

136
00:07:07,750 --> 00:07:09,206
but her mindset was different.

137
00:07:09,230 --> 00:07:12,926
She said, she prepared the information,
sat down with the client,

138
00:07:12,950 --> 00:07:15,726
said this isn't about me,
it's not personal,

139
00:07:15,750 --> 00:07:17,086
it's about the client.

140
00:07:17,110 --> 00:07:19,705
She took them through the data,
through the numbers ...

141
00:07:22,270 --> 00:07:26,206
laid out the trends and the progress
in her own voice and in her own way,

142
00:07:26,230 --> 00:07:28,926
but very directly said,
"Here's what we've done for you."

143
00:07:28,950 --> 00:07:31,790
The client sat up and took notice,
and said, "OK, I got it."

144
00:07:33,790 --> 00:07:35,726
And she said in describing that meeting,

145
00:07:35,750 --> 00:07:38,590
"I didn't feel scared or panicky

146
00:07:39,390 --> 00:07:40,590
or small,

147
00:07:41,630 --> 00:07:42,964
which is how I used to feel.

148
00:07:43,630 --> 00:07:47,150
Instead I feel like, "OK, I got this.

149
00:07:48,110 --> 00:07:50,750
I know what I'm doing. I'm confident."

150
00:07:53,630 --> 00:07:56,246
Being properly valued is so important.

151
00:07:56,270 --> 00:07:57,926
You can hear in this story

152
00:07:57,950 --> 00:08:01,166
that the implications
range far beyond just finances

153
00:08:01,190 --> 00:08:04,630
into the realm of self-respect
and self-confidence.

154
00:08:06,190 --> 00:08:09,726
Today I've told two stories,
one about defining our value

155
00:08:09,750 --> 00:08:12,566
and the other about
communicating our value,

156
00:08:12,590 --> 00:08:16,366
and these are the two elements
to realizing our full earning potential.

157
00:08:16,390 --> 00:08:17,590
That's the equation.

158
00:08:18,670 --> 00:08:20,750
And if you're sitting
in the audience today

159
00:08:21,390 --> 00:08:23,846
and you're not being paid
what you're worth,

160
00:08:23,870 --> 00:08:25,910
I'd like to welcome you
into this equation.

161
00:08:28,330 --> 00:08:30,706
Just imagine what life could be like,

162
00:08:30,730 --> 00:08:32,586
how much more we could do,

163
00:08:32,610 --> 00:08:34,706
how much more we could give back,

164
00:08:34,730 --> 00:08:37,266
how much more we could
plan for the future,

165
00:08:37,290 --> 00:08:39,490
how validated and respected we would feel

166
00:08:40,490 --> 00:08:43,186
if we could earn our full potential,

167
00:08:43,210 --> 00:08:44,530
realize our full value.

168
00:08:46,450 --> 00:08:48,490
No one will ever pay you
what you're worth.

169
00:08:49,050 --> 00:08:51,666
They'll only ever pay you
what they think you're worth,

170
00:08:51,690 --> 00:08:53,210
and you control their thinking.

171
00:08:53,970 --> 00:08:55,346
Thank you.

172
00:08:55,370 --> 00:09:01,785
(Applause)