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Marketing Strategy 38: Know Your Value

August 31, 2016Tam Le

The lesson for today is probably the most important lesson so far. It’s the difference between making a lot of money, and losing your shirt.

What could be that important?

What I call ‘knowing your value’…

Here’s the story…

One of the most common mistakes carpet cleaners make is not valuing their time.

For example, you might be using a marketing strategy that costs $100 to set up, but takes 10 hours. The strategy makes you $500 and looks profitable on paper.

But if you take into account that you charge $100 an hour for cleaning, the strategy actually cost you $1,100.

The lesson here is that you need to always place value on your time if you want to find the true return from a marketing campaign.

And in order to do that, you need to figure out your ‘actual hour rate’…

TODAY’S TASK: Figure Out Your Working Hour Rate
  1. Write down your average daily income for the last two months. This is the total amount of money divided by the number of days you worked.
  2. Figure out how many hours on average you spend at work every day.
  3. Divide your daily income by hours at work. This is your ‘actual hourly rate’ right now.

Once you have this number, you should take it into account in all your marketing costings. Also, there is another advantage of having this number.

If your actual hourly rate is $50 an hour, but you make $100 an hour from cleaning, then you need to look at ways to spend more time cleaning and less time doing other work. Every hour you spend doing something other than cleaning actually costs you $50.

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Course Navigation

  • Marketing Strategy 01: Goal Setting
  • Marketing Strategy 02: Clients, Not Customers
  • Marketing Strategy 03: Discover Direct Response
  • Marketing Strategy 04: A Wealth of Knowledge
  • Marketing Strategy 05: Model Successful Ideas
  • Marketing Strategy 06: Unique Selling Point
  • Marketing Strategy 07: A Cash Flow Surge
  • Marketing Strategy 08: Direct Mail Alive & Well
  • Marketing Strategy 09: Never Use Bait & Switch
  • Marketing Strategy 10: Raise Your Prices
  • Marketing Strategy 11: Have a Big, Bold, Solid Guarantee
  • Marketing Strategy 12: Get In The Newspaper
  • Marketing Strategy 13: Use Letters, Not Brochures
  • Marketing Strategy 14: 3-Step Letter
  • Marketing Strategy 15: Tell the Whole Story
  • Marketing Strategy 16: Don’t Be Boring
  • Marketing Strategy 17: Lifetime Value
  • Marketing Strategy 18: Networking
  • Marketing Strategy 19: Find Your Niche
  • Marketing Strategy 20: The Front End
  • Marketing Strategy 21: How To Get Business Contracts
  • Marketing Strategy 22: How To Get A Flood Of Clients From Yellow Pages Even In Today’s Online World
  • Marketing Strategy 23: Turn Your Website Into A Sales Machine
  • Marketing Strategy 24: You Are Not Your Client
  • Marketing Strategy 25: Dealing With Bait & Switch
  • Marketing Strategy 26: Creating Content If You’re Not A Writer
  • Marketing Strategy 27: Become A Trusted Expert
  • Marketing Strategy 28: Why You Really Advertise
  • Marketing Strategy 29: Don’t Be An Advertising Victim
  • Marketing Strategy 30: Learn Marketing Yourself
  • Marketing Strategy 31: Why Test, Test and Then Test Again
  • Marketing Strategy 32: Partnering With Real Estate Agents
  • Marketing Strategy 33: How To Make Even MORE Money From Real Estate Referrals
  • Marketing Strategy 34: Meet The Host And The Beneficiary… Also Known As…“The Joint Venture”
  • Marketing Strategy 35: How To Successfully Advertise In The Newspaper
  • Marketing Strategy 36: How To Spread Your Marketing Message
  • Marketing Strategy 37: Skyrocket Your Business With Celebrity Endorsements
  • Marketing Strategy 38: Know Your Value
  • Marketing Strategy 39: This One Simple Word Can Make Or Break You
  • Marketing Strategy 40: Reasons People Fail
  • Marketing Strategy 41: How To Remove Mental Garbage
  • Marketing Strategy 42: Your Success Is Dependent On This One Action…
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