3 Hints, Clues, & Tell Tale Signs It’s Time To Raise Your Fees
When it comes to fees and charging, most women feel a lot of conflict. We care. we’re women… it’s a double-whammy of cultural conditioning that says “give it all away.”
The thing is, this leads to women chronically undercharging and waiting far too long to charge what their work is really worth. It may feel giving and generous, but as the saying goes, you can’t give from an empty cup. Ultimately, undercharging leaves you depleted and defeats your purpose of making a big impact in the world.
Here are 3 “dead giveaways” (and one bonus!) that both you and your clients will be better served by giving yourself a raise:
Hint #1: You’re exhausted instead of exhilarated.
In the beginning of my journey, I would spend hours and hours and hours and hours (did I mention hours?) on projects that paid very little. I’d package together credit repair, debt repayment plans, building business credit and helping my clients fund their business all in a done for you package.Sure, the money was nice when it was coming in, but 40+ hours on the project later or 9 months later … let’s just say it was hard to stay motivated. And I love helping people get to the next level in their businesses.
Doing what you love should inspire, well, love. And gratitude. If you’re not feeling the love, that’s a big clue that you’re falling far short of receiving money in alignment with the energy you’re giving – and you simply can’t sustain that for the long haul.
Clue #2: You feel resentful towards your clients.
Ironically, women who undercharge often find themselves attracting needy and demanding clients. But even the best of clients can become a drain when you’re not charging enough. (Or not charging enough and over delivering!) If you’re feeling resentful and feeling guilty… it’s time for a shift.
Tell-Tale Sign #3: You’re working constantly and still just getting by.
You can always create more money, but you can never create more time. So when you’re signing on clients and charging too little, what happens? You get burned out… quickly.
One of my past Diamond clients was in a situation where she had two choices: continue to serve the last few clients in the “old way” of working (dollars for hours), or release them with love if they weren’t ready to step into her new high-end packages. The decision was really weighing on her because they were awesome clients who she deeply cared about. (There was a lot of history there, too – all of them had been with her for years.)
With a little coaching, she had a huge breakthrough: saying yes to those old clients would have meant saying no to herself – her own needs, self-care, time with her family, and her dreams of a much bigger business. (And the opportunity to give those clients something bigger to step into, as well.)
And here’s one more hint, clue, & tell-tale sign you’re charging too little…
When clients consistently buck and complain about your already-low fees, chances are it’s time to raise them. Counter-intuitive, I know, but experience has shown this again and again. (Definitely in the early part of my journey, increasing the price of a struggling offer would often increase conversion.)
“But Shameca,” you may be saying, “My fees are already way too low and people are complaining. How can I raise them when I can’t even get them to say yes now?” (I hear this all the time!)
The way to authentically increasing your fees is this…
To increase your fees and feel great about it, you must stay connected to the value of the transformation your clients get. What really gets to happen for them as a result of your work? How can their lives change when they step up and you step up… together?
Often this means letting go of the clients who aren’t a fit for the value you provide, and turning your attention to those who are. Remember, Like attracts Like. When you own your value first, you’ll naturally attract clients who value you… and themselves as well.
Want to use this article on your website or your own ezine?
No problem! But here’s what you MUST include:
Shameca Tankerson, is a Speaker, Trainer, Author, and Cash Flow Success Mentor to entrepreneurs and service professionals. Using a proven system, she opens a candid dialogue about money that teaches her clients how to breakthrough to their next income level and expand into a cash flowing business with a new collaborative business model that is liberating, Inspiring and Powerful. To Get your F.R.E.E. “Spark Your Cash Flow Financial Success Kit” – Making Room For Money: 5 Financial Mistakes Entrepreneurs Make That Sabotage Their Cash Flow (And How To Avoid Them). Visit: http://www.MakingRoomForMoney.com
Posted on March 7, 2012, in Encourage Me Girl, money, Money Moxie & Financial Mojo and tagged credit savvy CEO, How to Fund Your Business, iewbc, SCORE, women owned loans. Bookmark the permalink. Leave a comment.