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Value Billing
Summary:
The conversation explores different ways of getting paid for services and billing methods. The hosts discuss hourly rates, value-based billing, and success-based fees. They provide examples such as a mechanic charging by the hour, a kid charging a fixed amount to cut lawns, and a real estate agent earning a commission only if a transaction closes. They also touch on the fairness of these billing methods and the importance of expertise and experience in determining value. The hosts encourage listeners to develop a unique skill and become experts in their field to command higher rates.
Connect with Highly Curious on Social Media:
TikTok - https://www.tiktok.com/@highlycuriouspodcast
Instagram - https://www.instagram.com/highlycuriouspodcast/
YouTube - https://www.youtube.com/@highlycuriouspodcast
Facebook - https://www.facebook.com/highlycurious
Takeaways:
There are different ways to get paid for services, including hourly rates, value-based billing, and success-based fees.
Value-based billing is when the price is determined by the perceived value of the service, regardless of the time it takes to complete.
Success-based fees are only paid if a successful outcome is achieved, such as a real estate agent earning a commission upon closing a deal.
The fairness of billing methods can be subjective, but it is important to consider the risk, expertise, and experience involved.
Becoming an expert in a specific field and being unconsciously competent can lead to higher rates and success in the industry.
Chapters:
00:00 Introduction and Overview
01:04 Different Ways of Getting Paid
08:15 The Fairness Debate: Is It Fair to Charge Based on Value?
10:41 The Importance of Expertise and Experience in Determining Value
25:03 Conclusion and Call to Action
View all episodes
By The Highly Curious PodcastSummary:
The conversation explores different ways of getting paid for services and billing methods. The hosts discuss hourly rates, value-based billing, and success-based fees. They provide examples such as a mechanic charging by the hour, a kid charging a fixed amount to cut lawns, and a real estate agent earning a commission only if a transaction closes. They also touch on the fairness of these billing methods and the importance of expertise and experience in determining value. The hosts encourage listeners to develop a unique skill and become experts in their field to command higher rates.
Connect with Highly Curious on Social Media:
TikTok - https://www.tiktok.com/@highlycuriouspodcast
Instagram - https://www.instagram.com/highlycuriouspodcast/
YouTube - https://www.youtube.com/@highlycuriouspodcast
Facebook - https://www.facebook.com/highlycurious
Takeaways:
There are different ways to get paid for services, including hourly rates, value-based billing, and success-based fees.
Value-based billing is when the price is determined by the perceived value of the service, regardless of the time it takes to complete.
Success-based fees are only paid if a successful outcome is achieved, such as a real estate agent earning a commission upon closing a deal.
The fairness of billing methods can be subjective, but it is important to consider the risk, expertise, and experience involved.
Becoming an expert in a specific field and being unconsciously competent can lead to higher rates and success in the industry.
Chapters:
00:00 Introduction and Overview
01:04 Different Ways of Getting Paid
08:15 The Fairness Debate: Is It Fair to Charge Based on Value?
10:41 The Importance of Expertise and Experience in Determining Value
25:03 Conclusion and Call to Action