Do you ever get all choked up when it comes to invoicing your client for the first time or just even giving your prices to a new customer? Entering business for yourself is such an achievement, but knowing how to grow it and maintain it is a whole different story. However, knowing what your worth is something you should know beforehand. It’s called being confident in what your products or services provide.
It’s the most expressed concern from business owners. That is why it’s important to do your research and determine what to price your products or services. One of the biggest mistakes can be pricing them too low. It’ll become hard to get people to understand why they should spend more when it’s time to raise prices or worse…. some people can think you’re not a legit business when others charge a higher, but reasonable cost. On the other hand, charging too high for services or products that cannot be justified can hurt you too.
Take the time to know yourself, your business, its offerings and from there you’ll find your worth. If you aren’t comfortable with a service or product that you sell, learn to get comfortable with it or don’t offer it. Another option is to partner with a business that you may have synergy with like we do with PR. I went to graduate school for business and marketing. Though there are some elements of public relations that I can utilize, I leave it for the person or business who does it best. Therefore, I’ve partnered with Wright Media to help clients get media attention, while LOOKLIVELUXE markets them. Makes sense?
So next time you start to doubt yourself or begin to fret when bringing up money, do some business soul-searching or…. just let your confidence speak for itself by knowing your worth and then adding tax to it! I’m hoping you do the latter!