Your Time: What is it Worth? Part Three

By Bill Doran

 

How did you make out last month? Did you download the spreadsheet, customize it and figure out what a course costs you to run?

 

Shocking! Right! Are you charging what you are worth? Let us go back and ask once again why so many instructors leave the dive industry. Likely, your calculations gave you the answer…” Money.” More accurately, the lack of money. In business, we call these losses!

 

Remember to look at each of the three parts. List each cost item. Focus on each item. Keep them separate. The student must pay for each part of running a course. This includes a fair value for your time. Whether you are a large store, an independent instructor, a club or another structure, you must charge for your time. Do not look at others for their prices and either match or lower your course price. Charge what it is worth.

 

In this third article in the “What Your Time is Worth” series, I want to address the question I am sure many of you have. How can I charge more than my competitors? The answer is simple, but implementing the solution appears hard for many.

 

The answer is “Value added”. Simply put, give more value by offering what others are not. Perhaps it is through cross-marketing like Jean-Marc discussed on page thirteen of this month’s issue. Maybe it is found in Ryan’s article on page four. Or is it on page nine in my other article?

 

Anyway, you do it, take your course, price it correctly and give it the value-added touch!