Entrepreneurs: Ready For A Raise?

The beauty of being an entrepreneur is we can determine our income. One of the ways of the fastest ways raising your income is to give yourself a raise. With the beginning of a new year, it’s time to think about if you want to do that.

Here are a few questions to ask yourself?

1. When is the last time you increased your rates?

2. Do you feel good about what you are charging?

If this article is giving you a nudge to look at your pricing, that’s a good thing. It would be really easy for me to say, “ok, raise your rates” and end the article there, but it’s much more complicated than that. That’s because of the misalignment between money and mindset.

The most common reasons for that are:

1. You are not comfortable with talking about money

2. You don’t think you’re worth that amount

3. You don’t believe anyone would pay you that amount

4. No one else in your industry is charging that much

Those beliefs will keep you stuck at your income level.

Let me share a story with you. One of my clients, “Lisa”, had a fairly new business as a coach. She was so excited about her business but equally as uncomfortable about talking about money. Every time she would have a conversation with a potential client the subject of money (how much she charges) would come up. “Lisa” would tell them it was " x amount" to work with.

Here's where "Lisa" would get in trouble. She’d then add:

1. They were in a networking group together so they could have a discount

2. Today is Thursday so they could have a discount

3. The person’s first name begins with the letter “J” so they could have a discount

4. She had pizza for dinner tonight so we was offering a special price on her services

Bottom line, she was very uncomfortable talking about money. She would do this over and over again with everyone she spoke to. “Lisa” would get clients but she didn’t feel good about the process or the money she was receiving.
Does that sound familiar? I have had this happen with dozens and dozens of my clients.

The way I helped “Lisa” and the others was to teach them be able to talk about money. This was done through mindset and marketing shifts. “Lisa” was able to talk about money and gave herself a nice raise, as well.

Many of you will play it safe. You’ll keep your rates exactly where they are instead of getting out of your comfort zone and charging what you’re worth. I get that. But, understand that you own that decision and the outcome that comes from staying in that place. If you don’t shift, your business will never grow. As a result, you’ll end up frustrated, disappointed and maybe even angry at what’s going on with your business.

The choice is yours. If you’re satisfied with your income. Great!
If you’re ready to give yourself a raise. Great!

But, if you’re like most entrepreneurs, you’re uncomfortable with the conversation about money. So, no matter how much you'd like to charge more, you will stumble, change the subject or give it away. To be able to talk about money, you have to come from a place of confidence.

join me at the BRILLIANCE Breakthrough Intensive where with an intimate group of 15 entrepreneurs, we’ll spend 2.5 days getting you on the road to success. http://www.KateBeeders.com/brilliancebreakthrough