Ha! What a way to start a blog post! Well, after going on my weekend blitz of reading (well, I do this daily, but this weekend has been especially motivating), I’ve found out why most of US aren’t making the money we want. I do believe there is a bad economic situation going on but I also believe that there are many who aren’t broke. So what to do?
I think many of us girls think that we have to be competitive in our pricing to a fault. We’ve all heard of value-based services, but don’t really get what that means. Instead of pricing based simply on what others in the industry are doing, we aren’t taking into consideration our skill and what we bring to a client.
Marquesa Pettway, The Reinvention Expert, and former client of mine taught me this during a sales training she offered. Ask a client, “How much will NOT doing this cost you?” Say what??? Yes, if a client doesn’t invest X amount in you, it just may cost them tons more than if they invest in your seemingly overpriced offering.
Peep this, I think of business and dating in a similar vein. Would you date a guy who was looking simply for a girl, any girl, just so that he can have her, OR would you prefer to date someone who wasn’t searching for a quick hit, and was willing to invest his time and energy into finding a quality woman to be with?
Let’s hope you want the guy who values you and finds something unique that makes you stand out from the rest. And for your business, pricing yourself only based on the going rate is the same and throwing yourself at the sleezy guy just to have a man…at least in my humble opinion.
True, you want to attract clients and sales and discounts or low prices may be great for your business model, but all too often, I consult with those who price points are far too low, not even taking into consideration the cost of materials, time, or operating expenses.
The goal is to be prosperous in business. I heard B. Michelle Pippen of Women Who Wow say that if her business is no longer prosperous for her, she’s going to quit. I’m with her! We aren’t doing this for our health!!! There’s money to be made!!
The simplest thing you can do to make money is RAISE YOUR (INSERT ADJECTIVE) PRICES!!! Now, people will want to know that you deliver but if you didn’t deliver, you couldn’t call yourself a business, now could you? So if you’re good at what you do, get results, and impact peoples lives, you should lose the Mother Teresa mentality and get some cash.
That sounds soooo money hungry and not girly and soft and like the humble little women we’re told to be. But if we’re going to get the results we want, we can’t do things conventionally.
Want to hear more of my mama-Jasmine fussing about how you, yes, you in particular can change your business with a tweak, please email me at [email protected] I respond to every email and would love to talk to you.