Valuing the Hustle

The goal of the Hustler, of course, is to be able to maintain, sustain and grow your business. To that end, we must charge our clients for our endeavors & expertise.

In theory, everyone loves a bargain but part of the way clients determine the WORTH of your services is based on how much you decide to charge for them. If someone offered you a 2010 BMW for $10k, how would you react? The majority of people that I know would immediately begin asking questions - what's wrong with it, where did it come from, etc. The value that we associate with the BMW brand does not support a $10K price tag so we're naturally skeptical.

The same holds true for your business. If you are the best at what you do - hairstylist, mechanic, lawyer, consultant, musician, THE BEST - let your fees reflect what you tell your clients about your abilities. Don't give away BMW service and expertise for Kia prices!

Your clients will accept the discounted price because it helps their bottom line but they will wonder if they are getting the best service. Just as you might look in your rear view mirror driving your $10k BMW...wondering if the real owner (or the police!) would be following. Nothing that you can put your finger on, just a nagging doubt that something isn't quite right.

In trying to get new business and make ourselves acceptable to potential clients it is tempting to discount fees or offer extra services. Resist the temptation! If clients tell you that they can't afford your services, thank them and keep hustling.

What is a Righteous Hustle?

In light of some recent business decisions I've had to make, I've been thinking. Does the end always justify the means when one's intentions are good? Is it acceptable (more appropriately, understandable) for a convicted felon to sell drugs to feed his family and pay for his mother's cancer treatment? Is it ok for a stripper to use her body to send her kids to private school? More specifically, should I deal in an industry that conflicts with some of my beliefs for the sake of growing my business?

I while doing some research to locate potential clients for my mobile marketing services I found that the adult entertainment industry fits the client profile perfectly. They have a very specific target audience, an extremely limited number of advertising venues and very large profit margins and advertising budgets. Now, in the not so distant past I used to patronize certain adult establishments however in my ever-changing quest to "get my life right" I have tried to stay away from them. But the entrepreneur in me would not let me pass up an opportunity that could quite possibly grow my business significantly. So, I gathered my sales materials (text messaging statistics, cell phone usage info etc...) and started making sales calls. I had a few pretty solid leads and some very promising sales presentations, then it happened. I was talking to a family member who had invested very heavily in my company, in fact his investments were a big part of the reason I was able to quit my 9 to 5 and work on my business full time. After listening to me talk about the niche I had been pursuing, he explained that as a Christian he could not consider himself being a good steward over what God had blessed him with if he supported a business that dealt in an industry that conflicted with his beliefs. I understood completely after all, they were my beliefs too. But the problem was the entrepreneur in me had (and still does at times) a problem with "leaving money on the table."

And that is what led to my dilemma. Do I compromise my beliefs, walk away from one of my biggest investors to date and pursue the business in this niche? Or do I stick to my "moral code" and look for business elsewhere? Well, I chose the latter and while I can say that things are look up and I've made a little more progress in my spiritual walk I still have not seen the revenue I think we would have seen working with the adult entertainment industry. I'd like to believe that's because we're being prepared to see even more prosperity than that because of our faithfulness. I'll keep you posted.