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Iteration Three - You Are Worth More Than You Often Think Yourself

Iteration Three
Iteration Three - You Are Worth More Than You Often Think Yourself
By Oliver Jumpertz • Issue #10 • View online
Hey everyone. I can’t believe it. We are now at issue number 10 and thus enter the area of double-digit issue numbers!
This time, you will learn a little about determining your own value. Although it is not explicitly aimed at Web 3, it will definitely give you many insights and things to think about outside and within Web 3. After all, everyone deserves to be paid what they are really worth.
I hope you enjoy this issue; it will probably take you not more than 10 minutes to read. So, enjoy!

You Are Worth More Than You Often Think Yourself
Oliver Jumpertz
Your worth as a developer is often determined by what you ask for.

Two examples:

1. If you ask for too little, a hiring manager will usually not pay you more
2. An hourly late has a cap; a value-based price is often open-ended

The beginning is to ask for more.
It is often difficult for many employees, freelancers, and even business owners to understand, but your worth is more often than not determined by what you ask for.
If you get into an interview for a position and ask for $80k, even if the company you’re interviewing at has a budget of $190k, you will very likely only get the $80k you asked for (given you pass the interviews). From the company’s point of view, it’s a perfect deal. They have no obligation to pay you more, so why should they if you only ask for such a small amount?
The same is true for other situations. Many companies will probably happily hire you to get their software built if you only ask for $50 an hour as a freelancer, and they will have no incentive at all to pay you more because you never asked.
Even business owners and SaaS founders sometimes have problems with those things. They struggle to raise prices because they fear losing customers. Instead of charging $49 a month for something well worth it, they stay at the $19 they started with.
The first realization you need to come to is this: You will never find out how much you are worth unless you start to ask for more.
It is so much easier said than done, but there are a few things you can actually do to determine your own worth and then get into negotiations prepared and well aware.
Research
There are many ways you can research prices and salaries. Just some ideas for you:
You can become friends with a recruiter. Ask them what ranges they usually look for in positions you want to apply to. Many of them will happily share those ranges with you in exchange for a potential opportunity to place you at a company. This works for both employees and freelancers pretty well.
If you are in the SaaS business or offer services, look at your competitor. Which of them have similar offers to yours, and what do they charge? You can take that as an opportunity to do some market research, and perhaps you find a chance to raise your prices.
Just Try It Out
The most straightforward strategy is sometimes the best strategy. You can only find out what you can potentially ask for by doing so. Just go ahead and ask for a raise or raise your prices and see how the other party reacts.
In the case of a SaaS, you can run A/B tests with different pricing models and see how visitors to your site react. You only use a few potential customers and know that you asked for too much in the worst case.
As an employee and freelancer, go ahead and ask for a raise. Prepare a few compelling reasons why you should get more money and ask your manager for a meeting to discuss this. And if this doesn’t work, try to apply elsewhere. You can still ask your boss whether they want to match an offer you get or let you go.
Improve Your Perceived Value
Your perceived value is the sum of all traits, skills, and offers that someone you do business with might use to determine how much they are willing to pay you. For employees and freelancers, that is usually their performance, their skills, and their experience. For businesses, that are typically the services and/or products they offer.
You can always work on these things and form another picture of what you have to offer. Getting a certification or adding a skill to your CV could make a difference of several $10k a year. Adding another feature or tier to your SaaS can justify asking for a few dollars more each month.
Work On Your Sales Skills
Every interview and meeting with a manager where you talk about money is a sales pitch. You are there to sell yourself and either ask for money or more of it. It is your job to tell the other party why exactly you are worth the amount of money you want. The other side’s job is to either conclude you are right or to tell you why that isn’t possible.
The art of sales is to sell what you have at the best price possible. The better you are, the better the outcome. Good salesmen can sell anything, but they also sell the right things to the right people. They understand what the other party really wants and offer them precisely what they need. It’s not about selling anything in this case, but also knowing when you have the wrong product for the right people.
Work On Your Marketing Skills
Marketing is the art of letting people know you exist, showing that your product is the best thing to solve their problems and that you are the best person to give them exactly what they need.
Unlike sales, marketing aims at creating awareness without specifically targeting individuals. It’s not about calling a specific person, scheduling an appointment, and then talking them into buying something. It’s about letting people know something exists and awakening the urge in as many of them as possible to buy your product.
A better landing page can increase subscriptions by 10+%. Being known in the community can lead to incredible job offers. The better you become at presenting yourself, the more you can often ask for. It becomes easier to put a value tag on your offer because you are open about what you do and often showcase publicly what you are capable of.
Be Confident
The last and most important thing you need to do is to become confident in yourself. You must believe yourself when you ask for something. If you can’t confidently ask for that raise because you don’t think you deserve it (hello impostor syndrome), your negotiation partner probably also won’t believe it.
When you are confident, your tone and posture usually reflect that. You’ll be able to express and explain your worth way more easily this way. A good manager will notice that you are dead serious about the matter, and this can have a pretty positive effect on negotiations.
As a business owner, you also need to believe in your product. Your product is not “probably the best,” it is “the best.” You solve those problems awesomely well because you can back it with many happy customers. Don’t be shy, and express the worth of your products properly. You also don’t need to lie but don’t try to talk your own product down because you want to be humble.
I Need Your Help
Those of you who have already known me for longer know that I do not ask for much, but I need your help this time.
Some time ago, I started cross-posting my blog posts from my personal blog to Medium. My reason for this is simple: On Medium, I can put my articles behind their paywall and earn at least some money with it on the side. But at the same time, my articles all remain open and accessible by anyone on my personal blog. I don’t want to charge for content, but the more time I sink into content creation, the less time I have for other things. I also do not want to move blogging platforms and start to place ads on my site because I think this hurts your experience in the long run.
Here is my issue now: Medium recently changed its policy and threatened to remove writers with under 100 followers from their partner program.
All I want to ask you is to hit the follow button on Medium if you have an account there. You don’t need to read my articles there, and you don’t need to pay a Medium subscription to do so. My articles remain free on my personal blog. Getting above the 100 follower mark will simply help me to stay in the partner program.
Thank you very much for your help. I really appreciate it! You can find my Medium profile below.
Oliver Jumpertz – Medium
I Will Give My First Talk
Web3 with the experts: The Monthly Dev #14
The time had to come: I will give my first talk at The Monthly Dev! On February 22nd at 08:00 AM PST, I will join a panel of incredible speakers to talk about Web 3.
My talk has the title “Web 3 is both easy and difficult,” and I will speak of Web 3 and its pitfalls. It is often super easy to build the beginning of features, but the more advanced they become, the faster you hit limits.
The Monthly Dev is also being recorded and will be made available to watch on YouTube afterward. So, you don’t need to worry if you can’t make it.
New Articles By Me
Projects Every Smart Contract And Web 3 Developer Should Build
Another article has found its way onto my blog. This time, it’s about projects every developer in Web 3 should build at some point.
If you have already read issue #7 of this newsletter, you probably already know this one. If you haven’t, you might enjoy learning a little more about the standards developers in Web 3 should take a deeper look at.
My eBook Is Finally Out
Explained - 100++ Infographics Covering JavaScript, TypeScript, And Solidity
Explained is my free ebook containing all infographics I posted on Twitter, LinkedIn, and Instagram until now, and it is finally out on Gumroad!
I put a lot of thought and work into getting this right. Everyone who hasn’t downloaded it yet: Please give it a try. It costs you nothing and might be pretty worth the time reading it.
To everyone of you who already downloaded it: Thanks a lot for your support! It really means a lot to me.
Highlighted Learning Resource Of The Week
Figment is a great platform, and it aims at teaching you everything about Web 3 you might want to learn. And the best thing? It’s built by developers for developers.
It covers many different blockchains, with Ethereum resources being on the way. This platform is definitely worth a try if you want to look at all the other blockchains out there besides Ethereum.
That's It For This Issue
This issue has now come to an end. I hope you enjoyed reading it, and that you took something worthwhile with you.
As usual, if you have any feedback, feel free to provide it. Even if you have any ideas, share them with me. I’ll do my best to find out how I can incorporate them into this newsletter.
Until then, stay safe, and work on your and our future!
Yours sincerely,
Oliver
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Oliver Jumpertz

Hey, I'm Oliver, and Iteration Three is my newsletter focused on Web 3 and me. One that I would love to get every week.

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