Charge What You’re Worth: Pricing Lesson from Picasso
- ES Raphael
- Jan 31
- 3 min read
There’s a story about Pablo Picasso that I love because its lesson is timeless. As the tale goes, Picasso was sitting in a café when a woman approached him, asking if he’d sketch her portrait. In just five minutes, he handed her a beautiful work of art—but when he asked for a hefty payment, she balked: “That only took you five minutes!” Without missing a beat, Picasso replied, “No, it took me 40 years to be able to do this in five minutes.”
It’s a story about value—real value—not the kind measured in minutes, but in the expertise, skill, and years of effort it takes to produce something remarkable. And here’s the kicker: If you don’t recognize your own value, no one else will. It’s time to put some swagger in your pricing.
Why Many Undervalue Their Work
Throughout my career, I’ve seen business owners trip over their own feet when it comes to pricing. They’re scared to charge what they’re worth, worried they’ll scare off customers or seem too big for their britches. So, they set prices that barely cover costs, let alone reward their effort, and wonder why they feel like hamsters on a wheel. Here's the truth: Undercharging is like selling steak at hamburger prices. Sure, you might get customers, but they’ll be the bargain hunters who don’t appreciate the quality you’re offering—and worse, you’ll resent every underpaid second.
Confidence: The Secret Sauce of Pricing
Pricing is more than math—it’s a mindset. When you charge what you’re worth, you’re saying, “I know my value, and I’m not apologizing for it.” Customers pick up on that confidence, and it creates trust. After all, would you rather hire someone who’s afraid to set a fair price or someone who stands firm and delivers? Personally, I never hired anyone who I felt was floppy on his/her pricing: if they can't advocate for themselves, will they really fight for my business when they represent our interests? In Texas, we’d say it like this: Don’t squat with your spurs on. If you undervalue yourself, you’re setting yourself up for pain down the line—burnout, frustration, and a business that’s barely scraping by. Smart prospects will pass on your services.
The Hidden Costs of Undervaluing Yourself
When you undercharge, the damage goes beyond your bank account. Here’s what happens:
Burnout: Charging too little often means you’re working more for less. It’s exhausting, and eventually, you’ll find yourself running on fumes.
Brand Devaluation: Customers associate low prices with low value. When you price too low, you’re not competing; you’re diminishing your worth.
Missed Opportunities: Underpricing leaves you without the resources to invest in your business—whether it’s hiring help, upgrading tools, or marketing to a broader audience.
How to Build Pricing Confidence
Breaking out of the underpricing trap starts with a shift in perspective. Here’s how to get there:
Recognize the Full Value You Bring: Your price isn’t just for the time you spend; it’s for the years you’ve spent honing your craft, the solutions you provide, and the peace of mind you offer. That’s not just a product or service—it’s a package deal only you can deliver.
Get a Handle on Your Costs: Too many business owners focus only on direct costs like materials or labor. But what about overhead, marketing, and your own time? Build those into your pricing to ensure you’re not just scraping by.
Do Your Homework: Research the market and see what others in your industry are charging. Use it as a benchmark, but never a ceiling. If your prices are lower, ask yourself why—and whether you’re undervaluing your offering. Are you really providing below average work product?
Sell Value, Not Price: Instead of focusing on what you charge, focus on what your customers get. You’re not selling a product; you’re selling results, solutions, and expertise. That’s worth paying for.
Raise Your Prices Gradually: Start small. Test the waters. See how your customers respond. You might be surprised to find that the world doesn’t end when you charge what you’re worth—in fact, it often gets better.
The Bottom Line
Picasso didn’t charge for the five minutes it took to sketch yet another masterpiece—he charged for the decades it took to master his craft. The same principle applies to you. Your value isn’t just in the time you spend but in the expertise, experience, and solutions you bring to the table. Recognize it. Own it. Charge for it. Because here’s the truth: If you keep selling yourself short, you’ll end up feeling shortchanged. It’s time to step up, price with confidence, and build a business that rewards you for the value you deliver.
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