It’s a new year and it’s time to own your value. Around this time we get hyped up about health and fitness and I think that strengthening our self-worth muscles are just as important.
I know recently I have been reflecting on the ways I want to bring in more to my own life. It’s great to wish for things and tell yourself that you are awesome but wishes are fleeting and positive self-talk can disappear the moment a challenge arises.
However, when you provide your mind proof of your value by reflecting on concrete experiences a whole new value proposition opens up. Also, when you have these three tools that I am about to share with you in your back pocket. Not only do YOU know your worth, when you need to share your value for that next raise or to showcase your skills to land that next big client, THEY will know it too.
So here are 3 Ways To Know Your Worth:
1. Get CLEAR.
Take out a piece of paper or open the notes app on your phone. Get clear on all the unique gifts and talents you have and list them out. Write out everything, BIG or SMALL. From how fast you can type, to your dancing skills, to your ability to multi task or focus, to the different languages you speak, to how well you listen or stay calm in intense settings. Whatever makes YOU uniquely YOU. Remember this list has no limit so write out everything that makes you, YOU.
Quantify everything you have invested into yourself, your growth, and professional development over the years. List out your school costs, educational workshop costs, coaching costs, therapy costs, retreat costs, etc. The point is to see how much you’ve actually invested into yourself, expertise, and growth over the years and know this number. Even time spent reading books or watching educational YouTube videos. You might surprise yourself. The total could be $250,000 or $500,000 or even a million.
3. YOUR VALUE
Now divide that total investment amount by the hours you want to work per year to come up with your new hourly rate. Anything below this rate, you need to learn how to delegate. For example, let’s say you’ve invested $250,000 into your growth and expertise over the years. And you want to work 48 weeks a year at 40 hours a week for a total of 1,920 hours a year. $250,000 divided by 1,920 is $130 an hour.
This is your hourly rate. Even if you are not actually making $130 an hour, use this number as a GUIDE to start delegating more tasks, to feel more confident with the amount you are charging for your services, or the amount you will ask for as a raise.
I know when I did this years ago, it was SO MUCH EASIER for me to go out and make the decisions I needed, to charge my worth, make more money, and have more time back in my life because I was delegating more.
I hope this article helped you realize your value is crazy important to know and connect with on a DAILY basis. Happy New Year!
The above blog is by Brittney Castro originally published in Brittney Castro’s Blog – Financially Wise Women.
About the author: Brittney Castro, CERTIFIED FINANCIAL PLANNER™ is the Founder and CEO of Financially Wise Women, a Los Angeles based financial planning firm for women. She specializes in working with busy professional and entrepreneurial women who are passionate about life and want to gain clarity around their money. Brittney’s mission is to help women plan and create the life of their dreams, free from anxiety about money. She is known for her non-judgmental, compassionate approach to financial planning. She has been featured in the Wall Street Journal, New York Times, Financial Planning Magazine, Investment News, and Registered Rep Magazine. Away from the office, you can find Brittney working out, drinking green juice, reading, playing at the park with her dog Arya and of course dancing. Visit her at http://www.financiallywisewomen.com and request a FREE 30-minute Discovery Session to discuss how financial planning can help you use your money to live a life you love. Financially Wise Women is a registered investment adviser offering advisory services in the State of California and in other jurisdictions where exempted.