Rise of the Innerpreneur

Perceived Value Pricing

The Emotion of Money

photo credit Doug Wheller

I want to share this fantastic example of how much we are motivated by our emotions when it comes to money, and valuing things.

Ask yourself:

Is the value of the Empire State Building high because the value of rent is high, or vice versa, is the value of rent high because the building is highly valued?

What do you think?

Does it change if I asked you to substitute WHAT you are valuing?

Is the value of a cow high because the value of calves and milk is high, or vice versa, is the value of milk and calves high because cows are highly valued?

In altering WHAT you are valuing, did your willingness to pay change?

This analogy’s purpose is to highlight that your willingness to pay is fluid, and not set. How you value things and what you are willing to pay depends on how you feel about (yourself and) the thing you are valuing.

Fascinating, isn’t it?

photo credit: Doug Wheller

Pay What It’s Worth: The Book

Pay What Its Worth - the book

After five years of experimenting with not setting prices, in Pay What It’s Worth: Building Your Sustainable System for Not Setting Prices, I introduce this pricing innovation and share integral strategies for creating a balanced exchange experience, empowering both your customer and you to fairly value what’s being exchanged.

Diamond

Pay What It’s Worth: Building Your Sustainable System for Not Setting Prices

explore how an open pricing system with

Accountability. Norms. Disclosure.

creates and sustains a relationship of

Mutual benefit. Exchange. Connection.

between customer and creator

shaping an economy of integrity for your business to be valued in and grow from

Learn more and read the book

Diamond

Pay What It’s Worth is self-published by Tara Joyce under Elastic Mind Press. Currently you can purchase a PDF version of the book, and pre-order your print, kindle or EPUB version.

The Thing That Means SO MUCH

Means so much

A Calling

I’ve always wanted to — and knew I needed to — WRITE a BOOK.

If I knew anything about myself, I KNEW this. And this KNOWING was so powerful that it became incredibly painful.

Resistance

But I didn’t know how, so I tried to escape from IT. The pressure of IT. For a while.

With time and practice, it became not so much the WRITING that weighed, but THE (unwritten) BOOK itself. As did my resistance to ALL THE MEANING I had now placed on IT.

Nothing meant more than creating THE BOOK I always dreamed of, and so under this heavy weight IT sat stagnant.

IT meant too much to move, the fear of not getting IT right or not getting THERE at all hovered. The seriousness of the endeavour weighed. I NEEDED to do this.

Acceptance

Five year ago I started writing THE BOOK I dreamed of creating, and today I am ready to share it with you.

It’s taken lots of work on myself, and spending the last year writing the start of a fiction series, to reach THIS place where I am ready, willing, and able to write and share my BOOK that meant so much.

I can now see and trust that this BOOK that means so much, is one of many inside me. I now know I am able to do IT.

And IT doesn’t mean as much as I made it out to. And yet IT means so much more.

I feel ready now to step fully into who I am. To feel FREE to collect and share my words and thoughts with you. And to KNOW it means something when I do, but this meaning isn’t there to scare me, only motivate.

A Heroic Journey

And so, with no further ado, I am proud to share with you my first book, Pay What It’s Worth: Building Your Sustainable System for Not Setting Prices.

May it take you on an adventure the way it has taken me.

Building Blocks on My PWIW Path

BuildingBlocks

I was all set to release my first book on Pay What It’s Worth pricing last week, a book I’ve been writing in one form or another for, I don’t know… six years or so, but life got in the way, as it does.

Life, it seems, had a bunch to teach me, and specifically about PWIW.

Life had me thinking my book was a terrible lie. And then it had me thinking that there was so much missing from it.

See, that’s my problem with Pay What It’s Worth… always has been. There’s just too much to say. And it keeps growing. And I can’t get it down fast enough before it teaches me something new.

A New Truth

I’ve always felt very strongly about the communication around Pay What It’s Worth, in that I feel strongly about the importance of how I communicate what I am asking my customers to do when I allow them to set the price they pay.

It is my feeling that to be happy in the exchange both participants need to feel empowered, and that means holding both buyer and seller responsible for their contributions to the exchange.

Last week, as a seller, it became very clear that the biggest part of my job (beyond creating value) is to guide my customers towards a fair exchange with me — to support them in being responsible with their giving and in their relationship with me.

We all have our money stuff, and in choosing a system where I allow my customers to determine my value, I am entering into a relationship with their money stuff too.

A New Block to Build From

In asking my customers to pay what it’s worth, I’m asking them to experience the value they are receiving and to give fair monetary value in return for it.

And while that sounds simple in words, it’s terribly difficult in practice. And what I haven’t been totally responsible for, I can see now as a seller (and as a writer on the topic), is the truth of this.

It’s fucking hard to stay balanced and in integrity with money. It’s fucking hard to pay what it’s worth.

The truth is, if I’m asking people and all their money stuff to value me fairly, I had better provide ample support and understanding. Because what I am really asking is for them to be in a balanced relationship with me.

Is it fair of me to expect that they know what this looks or feels like? Especially in a “business” relationship?

Support for Giving Freely

Our relationship is not one where the customer gets to pay what they want. In offering that, I’d be creating a relationship where they’re free to put their money stuff on me, and I’m free to put my money stuff on them.

The intention for our exchange is empowerment and wealth creation. It’s not about want, it’s about meeting needs and exchanging fair value.

If I want this intention of need and fair value to stay true throughout my exchanges, I need to ensure all my guideposts indicate this. In my offering of paying what it’s worth, I need to ensure that I’m not creating space for my customers to default to paying what they want.

It’s important I protect myself from how easy it is, when our money stuff arrives, to make it about want.

As a seller it’s imperative I continue to do what I can to guide my customers towards being responsible in how they value me. This, it seems, is my biggest responsibility in our exchange outside of providing great value.

If I sincerely want our exchange to be about what we both can give, I need to acknowledge how hard that can be to act on. Only in my acceptance of this can I help my customers to be responsible to it.

photo credit: Kaytee Riek

Some Customers: Reflections on Pay What It’s Worth Pricing

Balance
Some customers pay less; some customers pay more.

Some customers pay less and buy more; while some customers pay more and buy less.

Some customers appreciate more; some customers appreciate less.

Some customers appreciate more and share you less; while some customers appreciate less and share you more.

Whatever their way of expressing it, they’re happily choosing the experience and to share their satisfaction.

They’re actively valuing what they love.

And the monetary value of this love and word-of-mouth is something truly hard to measure.

I’m super duper excited to share with you that I’ve completed my first book on Pay What It’s Worth pricing! The Ingredients of Integrity: Strategies for Building Your Pay What It’s Worth Pricing System will be available for purchase on my site next week.

photo credit: katsrcool