From Hobby to Business: Understanding the True Value of Your Work

Value vs. Cost

A Facebook debate about the price of a pan and the cost of a cake made in that pan put me in a reflective space.

I have been an entrepreneur for 15 years. And, I have been blessed to be able to run a company and support my family.

But, that wasn’t always the case.

At one time, KinderJam was a hobby that I got paid for.

It brought a little shoe and shopping money in the house.

However, after I reclaimed my independence and the financial responsibility of adulthood landed square on my shoulders, I had to reframe my thinking around money.

Money is currency…it’s an energy that moves between entities to make living easier as we meet the demands of life.

So, I had to start thinking about value versus cost.

You see, when I first started KinderJam in 2008, I charged $15 a month per child (four 45-minute Parent and Me classes per month). AND!!! That was on a 70/30 split with the Army…so I really made $10.50 per child per month.

Money meant nothing to me, then. I was a housewife, who had a talent, and just wanted to get out of the house and feel useful.

As the demand for my services increased, so did my cost.

But I was still thinking cost…instead of value. So, I was charging significantly more…but it still wasn’t “I have a business” money.

Fast forward to 2014, I was about to become head of household and I had a WHOLE CHILD to take care of.

I was forced to take an honest look at the business I’d built and the people and organizations it served.

I realized that I was creating value for everyone but me.

What good is it to have a talent, if I can’t effectively monetize it in my business, so I can take care of my family????

So, I had to put on my Big Girl Panties and graduate from a hobby to a business.

That transformation occurred with a shift in mindset…Cost vs. Value.

You see…cost and value are different.

Cost represents resources, such as money, time, or effort, that you have to give up or expend in order to obtain something. Cost is more objective and can be quantified. It's what you have to sacrifice or pay to acquire or produce a product, service, or experience.

However, value refers to the worth or importance of something to an individual or a group. It's subjective and can vary from person to person. Value is what you gain or benefit from a product, service, or action and it's often associated with benefits, utility, or satisfaction.

Once I recognized the value and results I offered my clients…I had a business.

AND very happy clients!!!

Because, they weren’t ever paying me for a class and finally understood their desire and my role.

They were paying me for results that they could quantify to their supervisors.

They were paying me for happy children and satisfied parents.

They were paying me for peace of mind…they could move on to other tasks and responsibilities because that job was effectively handled.

They were paying me for my expertise and lived experience…I walk my talk and I invest in increasing my knowledge and skill base. So, my clients get a walking, talking, smiling encyclopedia of all things family and team engagement within their reach.

BOOM!!!! Everybody WINS!!! I get to take care of my family, while operating in my gift and purpose and my clients get a Hip Pocket Girl and her team on speed dial!!

My clients and I don’t spend our time talking about cost…we discuss value and results.

The cost is on the invoice.

The value is in my solutions, knowledge, and reliable service.

The results are evident in their team members and the families and children they serve.

Know your worth and understand your value…then don’t settle for less…EVER…in any domain of LIFE!!!! #YouGotThis so #TrustYourDOPEness