Your Value Proposition -- What You Are Worth In the MarketplaceWhen you suddenly find yourself out of work and facing the prospect of a lengthy period of unemployment while you look for a new job, you may be tempted to hit the panic button. Before you do, let’s take a close look at your value proposition to a prospective new employer. You may be quite surprised – pleasantly surprised – at the result . . . if you’ve done your homework. What Are You Worth to an Employer?What are you really worth to a potential employer? If you have documented at least 25 of your Accomplishments according to the formula we recommend – and you should be able to complete more like 50 to 100 once you get really into it – you will begin to see what kind of financial impact your skills have had on organizations in the past.There’s no set formula for this, but you should be able to say with confidence that your services have produced three to five times as much revenue for an enterprise as your compensation has cost it overall . . . and posibly a great deal more.
Your Value Proposition Makes You a Big Dollar Sale!Assuming your compensation package starts at $150,000, the decision to hire you is a major one . . . not just for the direct costs, but for the ramp up time necessary for you to become productive for the enterprise. Now, step back for a moment and think about it from the "selling" side. Your side.Imagine that you are selling a $250,000 - $500,000 product and you’re willing to pay 10% commission plus 10% more in advertising costs to book that sale. That’s twenty percent or $50,000 in “Allowable Cost of Acquisition” for the endgame. Let’s say that you will make at least 20 presentations to prospective customers in order to make one sale. Spreading out the promotional costs and your commission over all twenty prospects = $2,500 per prospect. And, you might have generated ten leads for each prospect at a cost of $250 each. If you “sell yourself short” by not investing both time and resources in your Executive Job Search you may never know what opportunities you are missing out on. It can mean a potentially major loss to you over the long run. And (at the risk of sounding like a broken record) remember, the real key to discovering your true value lies in a thorough documentation of your Accomplishments. Your Real Value and Your Perceived Value are the same When It Comes to Making the Hiring Decision.Now these aren’t precise numbers by any stretch of the imagination. But, they represent a realistic way of arriving at your own formula. And you need to understand the value of each real prospective employer to you (as well as you to them) so that you don’t skimp on the research you do, or the means of communication you employ.These are big dollars and the “value” of the product (you and your services) needs to be properly represented by your phone communications, your business card, your stationery and the quality of your writing. You don’t have to overdo it, but you don’t want to send a folded resume in a handwritten addressed #10 envelope when a Priority Mail Package will get more (and possibly even immediate) attention. Yes, conducting a Professional Job Search is expensive and time consuming. But, when you are in the big leagues, if you settle for less than you are really worth because you feel you can’t afford to be without income, you may be giving up a considerable amount of money in the long run. You need to consider all the alternatives, including taking interim employment to finance a real Job Search and buy yourself time. But, until you have completed the Accomplishments program and are fully convinced of your true potential value to a prospective employer, you are only guessing at your value proposition and you won’t be negotiating at full strength. Return from Your Value Proposition to Marketing Tool Kit. Return from Your Value Proposition to Job Search Training home page. |
