In my experience with working with women entrepreneurs I find a recurring theme. Some are not making the type of money in their businesses or seeing the abundant results that they deserve. One of the main reasons for this is that many do not value the service that they’re offering. This undervaluing shows up loud and clear in their undercharging and in their lack of confidence.
Many times we as women entrepreneurs self sabotage our business success, because we don’t truly believe that what we have to offer is providing value. I call this the “insecure financial mindset” and it can hold you back from attracting those clients into your business who see your high value. This paralyzing mindset can also keep you from potential clients who are willing to pay for your value. It also prevents you from setting prices and fees that reflect your worth. While there are many ways to determine if you may not be valuing what you have to offer, I’ve picked out two common indicators. These will help you to identify if there’s some undervaluing happening in your business.
- You find it difficult to quote your fee in fear that someone may not be able to afford it – you may feel that what you charge is too high and no one is going to pay for it. You may ask yourself “Why would someone give me x amount of dollars for this and that”? One way to overcome this is to think about the issues that your clients face and what solutions you offer to solve their problems. More often than not those solutions you offer will convert to additional cash or more clients for many years to come. Can you say “high value”? When you create high value and results for the clients you serve then yes someone will pay for that!
- You give a lot of your time away for free – If you’re like me, I am one who loves to give and I don’t mind sharing my knowledge and expertise. However, I set boundaries that I am comfortable with. It’s okay to offer complimentary sessions and advice through email, but there should be a cap. For instance, maybe have a limit to the number (5-7) of complimentary sessions you offer in one month. Realize that your time is valuable and is not unlimited! So ensure that you are spending most of your time serving those clients who match your ideal client profile and with those who appreciate your value.
Let me assure you, that there are potential high-caliber clients out there who need what you have to offer and are awaiting a service and product just like yours. They also will pay you top dollar for providing a solution to their problem, that no one else has helped them with before. But they will not come if you continue to undervalue your gifts and talents! You have to change your financial mindset, revisit your fees and pricing structure, recognize and realize the unique gifts you have to offer, establish your fees accordingly, and invite those high-caliber clients in! You have what it takes and I can help you get there!
This was a guest post from Antonina Greer. Contact her today at firstname.lastname@example.org for help with gaining an abundance financial mindset and commanding higher fees that reflect your value or visit simplisticfinancials.com!
Antonina Geer and Simplistic Financials are not affiliated with LPL Financial or Financially Wise Women. This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal expert.