131. Marginal profit and handling value conversations
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I was talking with a client recently about the value of a project we were considering hiring someone for. The client wanted to know if paying a premium for a high-value writing project was worthwhile.
I was talking with a client recently about the value of a project we were considering hiring someone for. The client wanted to know if paying a premium for a high-value writing project was worthwhile.
It was a fair questions. So, we compared:
- The opportunity costs of not doing the project
- The DIY option and implications
- Hiring a generalist to do the work cheaper—and the trade-offs in that
- Hiring a specialist to do the work—and the benefits of doing that
- The longterm value that can be spun off of a well-produced outcome
In this episode, we go into the nuances of value conversations applied to this particular situation, as well as understanding the impacts of marginal profit and costs in the value conversations you have with your clients.
At the end of the day, you need to be able to articulate the value of working with you (or not working with you). Hope this helps you navigate your next discussions around price and value.
—k
