Price It Right

You may have started your business for a whole variety of reasons:  flexibility, passion for your mission, totally by accident. But you stay in business for only one:  it makes money. If you don’t make money, you’re out of business. And the key to making money is having the right pricing model. How do you know you’re pricing properly? First, you need to understand your costs. All of your costs. You need to know how much it’s costing you to do business, so that you know when you are making a profit. Once you’ve got a handle on your costs, you’ll need to settle on a pricing strategy. Will you price by the project or by the hour? Will you price high or low relative to your competition? Will you price your products separately or bundle them together, or both? Will you mark up (add on a fixed percentage of profit to your costs) each of your products or services at the same rate? Answering these questions may require you to do some research. What are your competitors charging? Are they charging by the project or by the hour? What are my potential clients willing to pay for these services? If I enter the market at a lower price, will I be perceived as having lower quality? Before finalizing your pricing structure and strategy, it is well worth having as much data as you can about the competition, and, more importantly, about your clients. Don’t sell yourself or your business short by overlooking the importance of well-thought-out pricing. You’ll end up frustrated and resenting your clients–and that’s never good....

Crank Up Your Courage In An Hour

If you are tired of resenting your clients, or feeling like some kind of a sham for asking for what you’re worth, I hope you’ll join me for 5 Ways to Crank Up Your Courage to Ask for–and Get–What You’re Worth. During our hour together, we’ll cover: 1. Getting Clear on What You Really Want 2. Understanding What You’re Really Worth 3. Identifying What You’re Really Afraid Of 4. 3 Key Strategies You Can Use Right Now 5. How to Build Your Confidence to Get Your True Value…Every Time! It’s the quickest way to start banishing your asking-for-money fears, and to grab a whole pile of tools to give you the confidence get your business growing. Book it...

Simplify Your Life! No Really…Simplify Your Life!

We hear it every day. “Buy this product/blueprint/system/whatever, and simplify your life!” Now really, how can buying and having more stuff make your life simpler and easier? I hear it from women all the time, “I have everything I’ve ever wanted, but… “I don’t have time to enjoy it.” “I’m more stressed out than ever.” “I’m still not happy.” What I’ve discovered is the common misconception that we need more—things, tools, gadgets—to make our lives less complicated. Sounds crazy, doesn’t it? I suggest that the road to simplicity is lined with what we cast off or stop doing. And I’d love to see the biggest pile be those items/concepts that enable us to “work more efficiently”. Have you noticed that “work more efficiently” just means “work more”? Anything that makes your life simpler should pass the following test: What is my initial gut reaction? Does it allow me to do more of what I want to do vs. just do more? Can I afford it? Not only in terms of money, but in terms of time, efficiency and stress? If the latest gadget, service, consultant, whatever doesn’t pass all three tests—it’s not worth it! Here’s a way to start simplifying your life TODAY. Cross one item off your to-do list. Go ahead, right now. Just cross something off and not think of it again. You can do it. You probably already have at least one item on there that you know you’ll never do anyway. So rather than subject yourself to the daily guilty of carrying it over, get rid of it! Do this once a week (or once...

A Financial Advisor, A Rabbi and A Women’s Advocate Walk Into A Bar…

Last week I had my annual meeting with my financial advisor. He’s a great guy, really knows his stuff. And believe it or not was a philosophy teacher in his former life. After we go over my numbers (which are doing well, by the way), his new girlfriend, a rabbi, joins us. And the conversation gets interesting. The philosopher-advisor posits: I recently read a statement by an economist who suggested that, if we are paid based on our value, then women are obviously providing 78% of the value a man is providing in the same work. Now, I don’t necessarily agree with this statement, but you do have to consider that women take time off to have children, etc. I rebutted that in countries where parental leave policies are more equal than they are here in the U.S., the time-off argument is much less of an issue. I also stated that many studies have shown that women are much better at multi-tasking at men, so time-in-office shouldn’t be an argument for higher pay. The rabbi quietly agreed. Since this was the first time we had met, I imagine I might have been scaring her a bit with my vehemence. Advisor-philosopher replied, “OK, but I still don’t think that makes up for a 22% shortfall in equity.” “You’re right.” I replied. “It’s because most women either don’t know what they’re worth, or they’re afraid to ask for it.” “Absolutely!” said the rabbi. The three of us then launched into an animated discussion of how to empower women with the data to know what they’re worth and the confidence to ask...

Let the No’s Go

Many professional women in my life have been asking the same question over the last couple of weeks: What if someone unsubscribes from my list? The tone of their questions is usually full of fear, like, “Oh my gosh. Some teeny percentage of my list of contacts has decided not to get info from me anymore!” Now I know we all treat each of our contacts with the utmost respect and love, and deliver seriously great service. We feel close to each one of our contacts, like our list is one big family. If one of our contacts opts out of our list, it’s like we’ve lost one of our own. My good friend and mentor, Nancy Marmolejo over at Viva Visibility, blogged about this very issue a couple of weeks ago:  I Survived a List Purge (You Can Too).  This is what got me thinking about this topic. Then, I started hearing from a whole bunch of women entrepreneurs: “I had one person unsubscribe!” “One of my contacts said they were not interested.” “What do I do if someone opts out?” Like Nancy, I say, “Let ’em go!” Focus on those who have made the conscious decision to stay on your list. You will likely never really know why the one person left your list, so don’t waste energy on tracking them down, finding out why they left, and what you can do to get them back. Use that same energy to thank those who have decided to stay, or offer them some bonus piece of information, or just say hi. I’d love to hear how you, and...

March Forth!

Today is March 4th. Which is a homonym for March Forth! Let me make an argument for doing just that. Awhile back I met a friend and colleague for lunch. We were going to continue a previous discussion about how we might work together. I thought I was so prepared. I had outlined a really cool workshop we could deliver together. Target audiences, key messages, logistics, the whole shebang. She read it through, put down my masterpiece, and said, “That’s it?” I was crestfallen. This woman and I have literally been talking for years about how we could work together to empower women to change their world. “That’s it?” I was crushed. “What do you mean?” I asked. “This is good. But I was thinking we could create a whole program—not just a workshop.” Oh…she wanted more! She was thinking big; I was thinking small. We spent the next half hour brainstorming what a program might look like, and who our ideal clients would be. We were both excited about our prospects, and had clear next steps to research our market. We are now putting the finishing touches on our program description, and getting it ready to present to potential partners. And I’ve discovered that any program can be broken down into smaller workshops or other products, which doubles our revenue possibilities! This experience really challenged me to look at my goals and objectives, and my plans for my life and my business. Was I thinking too small about everything? Possibly. But my brain was beginning to hurt. I couldn’t handle thinking bigger about every aspect of my business...