Chrono log #3 – Value creation & Unpaid Internships

It is finally time for the third installment of my vloggythingy. It has been awhile but I am back! Talking about value creation and unpaid internships, tying into the blog post about schibsted’s unpaid internships. Fun stuff! Check out the video below!

Value creation / generation is the fundamental pillar of business. This is also why unpaid internships are so awful, if a company cannot create value from your employment then they should not employ that position in the first place. I am of the opinion that unpaid internships is a scourge that should be purged from the corporate environment.

More importantly on value creation: Basically, anything you do to increase revenue and profits for the company. It may be direct or indirect but it should (and mostly does) affect your wage. If you have a proven track record with increased conversion rates for example, then use that to leverage your future wage or rate.

A consultant rate might be very high per hour (compared to a normal worker) but it is high for a reason: extra costs (overhead, taxes, social costs etc) and expertise. For the most part you pay a freelancer or a consultant a high rate because they are the experts and it is not financially viable for you to hire a full-time employee with that skill level for such a task.

Does your clients think your hourly rate is high? Charge per day or week. The client no longer pays for the means (hours) to the end but rather the end and the means are of little significance