Help More People by Charging What You’re Worth

Women entrepreneurs commonly undervalue their time and expertise by under-charging for their services. To be honest, there are several 'Worth' highlighted, under 'Value'reasons why women entrepreneurs do this: from lack of confidence to trying to do a good deed (and everything in between). Some women entrepreneurs routinely barter or discount their services so they can “serve more people.” Usually that’s just a cover for not owning their true value.

Let me be clear; under-charging is good for no one. It’s not good for you. It’s not good for your clients. It’s not good for your potential clients. It’s not good for the people you are meant to serve. Under-charging obviously siphons money from your bottom line but it also makes you work harder and longer than you would if you just charged what you’re worth. If you’re struggling with low profits, lack of time, lack of energy, and lack of resources because you are charging too little for your services, how does that help you help more people? It doesn’t.

It took me a while to figure this out. When I first started my business, I charged so little and gave away so much service for free that it was a struggle to take on new clients. The clients I was working with received a lot of value for their money, but I couldn’t afford to help more people because my existing clients were consuming all of my resources without truly compensating me for the value I was providing. Even non-profits need cash flowing in to meet their client’s needs and compensate for the services they provide. Luckily, I figured out that undercharging was an express ticket to overworking, under-earning and going out of business.

Continue Reading

5 Things You Must Do to Break the Cycle of Under Charging, Under-Earning, and Overworking

Time, energy, and money. These three resources influence everything we do (or don’t do) on a daily basis. They impact our ability to live our paidpeanutsgreat lives and they are undeniably intertwined.   I guess that’s why I hate to waste any of them (especially time).   If you think about it, how you choose to use, guard, and maximize these resources directly affects your success in your business and your personal life.  Not making the best use of any one of these resources could send you in a downward spiral.

For instance, if you aren’t using your time as efficiently as you could be, you’re probably working too hard (expending too much energy), working on the wrong things (wasting or misdirecting energy), or working too little (not maximizing or capitalizing on your energy).  Each one of these scenarios leads to under-earning (not maximizing the amount of money coming in).  This, in turn, leads you to feel like you need to work harder and longer.  The result is a vicious cycle of over-working for way too little money, and way too little satisfaction.

Continue Reading