Do you want to stop undercharging and find smart ways how to make money work for you?
Money, for so many people it's a difficult subject. Strangely especially for entrepreneurs.
My advice to you is to really talk about this openly and not care too much of what other people think about it.
The past year I have invested a lot in my relationship with money and that relationship was… not good.
I see so many entrepreneurs struggle on how to value their work and therefore I would like to share with you some questions that really helped me change my idea of how to value money.
1. Rate your experience
How many years of work experience do you have? And I don't mean just entrepreneurial experience. Just how much hours a year did you spend and do you think it matches your hourly rate? Many entrepreneurs have the same hourly rate years on end. Every day you put in the work, you learn more. Do not underestimate your experience and charge accordingly.
2. Rate your education
Sure, you have been to school and university but what else did you learn? Think about all the conferences, in-house trainings and business courses you have been taking. Many people choose not tot invest in themselves, but I guess you are because you are reading this. Write down all of the education you took and be amazed in how much you've invested in yourself. Aren't you investing in your own knowledge and skills yet? No worries, now is the time to start.
3. Think about the future: which yearly income makes you happy?
Imagine in three years time: where do you want to be income-wise? Which kind of life do you prefer? Would you like to move to a different house or city, do you finally want to buy that car? What is still on your wishlist that you would like to work for? Once you know your life goals it's easier for you to reach it.
Think about the hours a year you want to work and then calculate the rate that fits your goal.
4. Raise your standard, you don't always have to do what you did
I see so many entrepreneurs getting stuck with the clients they have. But why should you? There are so many businesses, clients, sectors you can work for. You bring even more value if you are changing your field of work from time to time. Be honest to you and your business: are these clients I still want to work for?
5. Never ever ‘feel' what is your rate, but always calculate your rate
I know this still happens, so I have to say this, do not ‘feel' what would be your best rate, or guess your rate, but do all of the above and do serious market research on what others around you are charging and see which fits you in your new standard.
Make 2022 your year by setting realistic goals, using my free pricing guide.
Good luck and lots of love,
Sarah
P.S. Do you want weekly mini trainings on business development? Follow me on Instagram!
