Archive for September, 2012

3 Simple Steps to Charging What You’re Worth

Two of the problems that I see many entrepreneurs facing is how to set their prices, and how to convey to potential clients or customers what is the value in working with you, buying your product, or using your services. This is most often because you’re not clear on it, or 100% convinced of it yourself. This lack of clarity undermines your confidence and can lead to behaviors that sabotage your business instead of building it if you try to compensate by over delivering. This may show up as undercharging, putting up with problem clients, not sticking to session times or prices, answering emails in the middle of the night (just stop that one right now!) answering the phone outside of business hours or not putting strong systems in place to really support your business growth.

Here are 3 Simple Steps to help you get clear on the value you deliver, and to charge fees that are in line with that.

Step # 1: A quick, simple and super effective exercise is to list 30 results that your clients get in working with you, or purchasing your products or services. Be sure to list the tangible as well as the non-tangible i.e. Paying down 5 figure debt (tangible) and greatly reduced stress (non-tangible). List 30. Not 12, not 25. Be tenacious and dig deep. If you’re new in business, then look at the results that are typical of your particular profession or industry, and ask yourself how you can help people create that.

Step # 2: Once you have made your basic list, look for the secondary results.

Example: Paying down 5 figure debt = less stress = fewer headaches and physical problems, better sleep, more disposable income

Fewer headaches and physical problems = fewer healthcare expenses = more money in the bank (which equals less stress )

More disposable income = more vacations, nicer car/house/clothes, quality of life for family

See how this works?

Step # 3: Now that you know, it’s important for clients or customers to be aware of it too. Be sure to ask them frequently what they value most about working with you or buying your products. It’s a great ego boost for you to hear this, and it helps to bring this to the forefront of your clients’ minds as well, and keeps them coming back for more.

Remember, that you are irreplaceable, and money alone can never reflect your true worth. What you’re charging for is the difference you make in the world, and to other people’s lives.

If you’re doing great things in this world, it’s up to you to let people know and to share it! We can all create big change together!

So what is the value to you in receiving this coaching tip? How much more income do you think you can bring into your business by focusing on the value you deliver, and charging what you’re worth?

Essential Project Management For Small Business Owners

If you’ve ever wondered how your small business can ever succeed in a rapidly changing world, where customer preferences change almost daily, new competitors are constant, there’s new technology at every turn and new suppliers coming at us from all directions, then the answer is project management.

Project management is such a powerful tool, and I would even go so far as to say one of the most powerful tools that your business could ever have. Why? Because it helps us realize our dreams, take advantage of opportunities, and solve our problems when things are changing right beneath our very feet.

If you own a small business, like I do, you know that success depends on doing the right thing and on getting it done right.

We need to deliver the right results, on time, and within our budget and do a really good job. But more than that, we need to be constantly innovating, giving out customers and clients reasons to do business with us.

We need to be offering them solutions to their problems and we need to be able to provide this in the most productive, efficient and streamlined way possible. When we don’t do this, or we don’t do it very well, our customers and clients aren’t happy and our bank accounts are soon empty.

So, what is a project, really.

Well, a project could be two things from a business perspective:

  • A dream or opportunity with a deadline
  • A problem that has been scheduled for resolution.

Do you have a dream for your business? Do you:

  • Want to create more products?
  • Want to add additional services to your business?
  • Want to grow to a certain size?
  • Want to be the best at what you do?

If you’re not sure, then ask, “What is the biggest opportunity for my business?”

When you’ve defined your dream or your opportunity, then you’ve set direction.

But, when you’ve set direction, you head out on the highway, and wham! You drive straight into a ditch.

Each dream with a deadline or an opportunity we want to realize is a project. And that project defines the problems we face. And when we face those problems and solve them, that’s a project, too.

Projects come in all sizes.

In a small business, some might take months, such as launching a new arm to the business and others might be fulltime work for a few weeks, such as creating a new product, service or revamping an old website. And then, some projects take just a few hours such as setting up a scheduling system so clients can self schedule their appointments with you.

Whatever it may be, it’s always a good idea to think of y our opportunities and problems as projects. If you can say, “Here’s where I am now and here’s where I want to be,” then you’ve defined a project.

Copyright @2012 Small Business Ideas.