Leadership Principle 4: Knowing and respecting your value
Last week I re-introduced myself and my multiverse. I want to spend a little time sharing some of the leadership principles that I operate with both my team and clients.
When I reflected on this principle, the two primary places knowing and respecting my value as an entrepreneur has come up the most is in Pricing and Partnerships.
Every business person has to find a tricky balance between the experience they have acquired and competitive pricing. No, small businesses aren’t always significantly cheaper; if you are dealing with experienced individuals who form an expert team, their pricing is competitive.
I remember, when I researched my day rate, the unexpected challenge I had was the assumption that I should just do everything for free. If I didn't respect myself and my value, I wouldn't have a business.
I don’t think a business can be successful without forming Partnerships. These partnerships must be based on respect. If a potential partner doesn’t respect or tries to undermine my value in micro or macro ways, it doesn't start.
I have walked away from clients, partnerships and deals because of this principle.
Shonda Rhimes demonstrated this when she walked away from ABC and now Netflix gets the benefit of her portfolio.