Bargain vs. Value: Are You Sabotaging Your Business?

Honestly, who doesn't LOVE a bargain? 50% off tags make our eyes boggle and an arduous quest for the perfect _______ is forgotten when, at some unexpected moment, we find our treasure at a deep discount. Ah, in those moments, all seems right with the world.

The word "bargain" relates to the price of something; specifically a low price.

What about "value"? And what about a distinction between the two? Are these words significant in the application to business services we delegate to freelancers?

Bargain. Value. Hmmmm.

Lord Byron had a few thoughts on the subject of bargains:

"A bargain is in its very essence a hostile transaction. Do not all men try to
abate the price of all they buy? I contend that a bargain even between brethren is a
declaration of war."

It sounds like Lord Byron spoke from experience. Why else would he be so impassioned? "Hostile transaction. Declaration of war." Those are strong words.

When hiring pros to make their valuable contribution to the success of our businesses, rarely do we look for a bargain. We want many things, but a bargain is not one of them. We want quality, we want integrity, we want dependability and we want all that at a price that has value to us: the price is high enough so we know we're engaging the services of a skilled professional, but low enough so we can realistically work it into our business budget.

Getting a bargain may mean we compromise value and quality in the process of building our businesses. And how can that ever serve our vision and goals?

As business owners,

confine bargain hunting
to actual goods and
seek value
when hunting for services

It's a clean distinction and one that fits into big business plans for growth, efficiency, simplicity and continued forward momentum.

So, what's the most effective method to getting value when hiring freelancers?

1. Ask for referrals from your colleagues and friends.
2. Compare services offered AND pricing based on your needs.
3. Contact references.
4. Establish clear contractual parameters.
5. Start with a small project.
6. Remain actively involved with open and ongoing communication.
7. At the conclusion of the first job, conduct a brief assessment to determine if a second assignment is warranted.

For the most part, pros who are compensated fairly do work comparable to their compensation. A bargain price often means bargain deliverables resulting in lost time, effort and the need to start from "square one." After a bargain-based experience, many entrepreneurs start over with an important lesson learned and a keen eye for getting value, instead of a bargain.

Bargains will cost you in the long-run. Learn from others and shorten your learning curve in business. There are plenty of other lessons to learn on your own. This doesn't
have to be one of them.

Bargains are good. Services are valuable.

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