As a business coach, I am constantly looking for ways to assist my clients as they map out their goals. While doing some research on what motivates people, I stumbled across an interesting story about knowing your own value. I’ve coined the phrase “The Picasso Factor” and use it as part of my coaching curriculum.
Here is the story:
Many years ago, a woman was sitting in a restaurant having dinner when she noticed a man sitting at a neighboring table. She quickly realized that he resembled one of her favorite artists, Pablo Picasso. Apparently, he was drawing on a cocktail napkin and after he finished, she approached him, introduced herself, and asked if she could have the drawing. He politely said “no” but offered to let her buy it for $20,000. She said, “But I watched you draw this and it only took a few minutes.” He paused studying his work, and in a calm voice said, “What you haven’t seen is that it took me a lifetime to be able to draw like that, that quickly.”
This story clearly illustrates that Picasso understood his own value and he wasn’t willing to compromise the price of his work just because it took a few minutes to create it. The Picasso Factor is about knowing your own value by recognizing all of the time it took you to become an expert in your chosen field. In addition, it is also about the growing body of knowledge that you have acquired along the way.
Understanding Your Picasso Factor
After reading the story, I pondered over the 22,000-plus hours of coaching sessions I have conducted over the past decade and previous to that when I had been a financial adviser. It is helpful to think about the following things as you fully comprehend what makes you unique and valuable:
Take stock of your experience. Oftentimes, it can be easy to overlook how far we have come when all we are doing is thinking about how far we have yet to go. Does this sound familiar? If so, take a minute and reflect on the time and energy that it took you to get to where you are in your career. Nobody did it for you. It was you who decided to take this journey and it was you who has continued every step of the way!
Take stock of your knowledge. Maybe you don’t have years of experience under your belt, but I’m sure you weren’t just handed everything on a silver platter. No, you had to acquire knowledge in your chosen field. Did you need an industry-specific license? Did you need an advanced degree? No matter how long you have been in your career, your clients and customers are paying you for your knowledge. And, if you are still taking the time to continue to learn then you are continuing to increase your value!
Take stock of your character. One of the most important things that you do not want to overlook when determining your value is your character. Sure, there are probably plenty of people in your line of work that have knowledge and expertise, but if you were to ask those who do business with you why they do so, they would probably say that they trust you. Your character is something that defines who you are, and a person with more integrity and honesty will outshine the competition.
Why Knowing Your Value Works
It’s been said, “Price is what you pay but value is what you get.” These words are very true and when you realize your value, you shouldn’t compromise on your price. One of the reasons why knowing your value benefits you is because you understand that you don’t have to work with everyone if they don’t recognize or respect your value. In fact, you can be selective about what type of clients and customers you want to work with. It is my hope that after reading this brief article, you see your own value from a different perspective and realize that you are your own masterpiece!
Dan Finley has a 25-plus year successful brokerage career that began in 1993 and includes 14 years as a successful financial adviser. He has accumulated over 22,000 hours of individual and group sessions coaching financial advisers and insurance agents since 2004. He can be reached at 715-262-2040 or http://advisersolutionsinc.com.