11 – Knowledge is Valuable

Are You Afraid to Ask for Money?

Have you ever had to ask someone to return a tool or other borrowed item? For most of us, it can be an uncomfortable situation – especially if you’ve already asked for it several times. Asking for money from a client or customer can also be uncomfortable, even though you’re providing valuable information.

This is especially true for new entrepreneurs who may be unsure of the real value of the information they’re providing. The consequences include giving your information away for free – or at a highly discounted price – and never getting your business off the ground floor.

You may wonder why customers don’t simply hand over payment when they’re helped without being asked or invoiced. You need to feel more confident about closing the deal and asking for the payment you deserve.

Understanding the Value of Information

There are dozens of online entrepreneurs who get paid very well for the information they research and provide. These successful entrepreneurs have built their businesses on the quality and uniqueness of the information they offer and aren’t shy about setting a price and expecting to be paid.

They know their worth. If you’re afraid or lack the self-confidence to put a price on your entrepreneurial efforts, you should begin to understand the value of the information you’re providing by doing some simple research.

Understand that people are willing to pay for well-thought-out and researched information that will help them in their own endeavors. See what other marketers are charging for their own products and pay attention to how they ask for payment.

Do Your Research

Also, research the quality of information provided on other sites. When you know you have a quality product, you’ll be able to tout it much more effectively. Pay attention to the type of information people are offering, too.

Some products may be seasonal (such as Halloween costumes) while others are called evergreen, meaning that they can be promoted throughout the year. Your marketing campaign for each product should be based on the latest and most accurate information.

Be crystal clear in your efforts to encourage clients and customers to pay for the information you provide. When you’re specific, you come across as more confident and will build trust within your customer base.

Communicate the Value of Your Product

Your customers want to know they’re getting monetary value out of the information you’re providing, so it’s necessary for you to communicate that message before asking for payment.

Once you have the inner self-confidence that you’re offering a product of value, you’ll have less fear of asking for money – and your customers will be more willing to pay for a product that is unique and well worth the asking price.