Today's guest post is from Kate Beeders.
If you don’t have this just right, it can make or break you!
That’s a big buzz phrase that I’ve been hearing since I started my business 4 years ago and I’m guessing that it’s been around a lot longer.
What does this mean?
On a simple level, it means not giving away your services. Not undervaluing yourself or what you have to offer.
On a much deeper level (and this is where the mindset “fun” really begins) is to understand your worth and what you are contributing to the world.
For this blog, I'm going to focus on not giving away your services.
So many entrepreneurs do this through the following ways:
1) Trades: This is when you give your product/service to someone and someone else gives their product/service to you. No money is exchanged.
I have told the members of my BRILLIANCE Coaching Program ™ to never do trades again. I have them receiving money for all of their services – which they much prefer. Truthfully, it made them a bit uncomfortable in the beginning, but now they are much happier this way.
2) Discount: This is when you are quick to offer a discount on your product or services to get someone to sign up. Someone you’re talking to will inquire about your services and without them even asking, you’ll offer a special price because it’s Tuesday, or they’re in your networking group or they have blonde hair…or whatever. Stop doing that!
3) Not Collecting Money For Services Rendered: This is when you don’t bill your clients, “forget” to ask for payment or else when the subject of money comes up, you respond with “don’t worry about it”. Ask for the money!
The reason this happens is that so many entrepreneurs are uncomfortable with the subject of money. Here are some of the common reasons:
1) They don’t believe they are worth it
2) They don’t believe the services they offer are worth it
3) They’re afraid they won’t be able to deliver at a higher investment
4) They want to help everyone (no matter what someone’s financial situation)
5) They have lots and lots of blocks around money from their childhood(that’s a subject for another time)
6) No one else is charging that much
7) They’re too young/too old
8) If someone actually paid them that much, what would they have to do?
9) They don’t believe they should get paid for their “passion”
10) They can’t talk about money. Their voice changes (either they speed up, stumble on their words, change the pitch of their voice or change the subject).
My guess, based on the hundreds and hundreds of entrepreneurs I have personally worked with and helped clear out these negative beliefs that you probably have at least of few of the reasons I mentioned above. I recommend you write down the ones that resonate with you and make it a goal this year to clear those old beliefs out.
Here’s one more action step to get you going:
Practice asking a potential client for money. Practice with a friend, an accountability buddy or with your coach. Practice over and over and over again until the amount starts to automatically flow off of the tip of your tongue.
Mindset, Money & Marketing Expert
P.S. Visit www.KateBeeders.com and get your BRAND NEW COMPLIMENTARY MINI VIDEO SERIES: “Stop Procrastinating: Start Mastering the 3 Keys to Unlimited Business Success Now”
As my mentor/boss during my insurance industry days told me, one has to look out for oneself and if I didn’t ask, I wouldn’t get what I wanted. Of course, this was more in the context of getting more benefits and career opportunities but it holds good for business as well. If the mechanic or plumber don’t have an issue asking to be paid for valuable services, then why should we feel uncomfortable? It helps to talk about the investment and have engagement contracts signed at the very beginning. As a recent prospect told me just a few days back, if you want value then you have to pay for it!
What a great post. I like the idea of practicing with a friend over and over and over and over again until it rolls naturally off my tongue. Thanks for the great tips.