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Article Directory :: Business - General Articles
Let’s face it, there’s one time when the topic of money makes many business owners squirm and that’s when they have to discuss money with their clients.
Funnily enough, your clients have the capacity to feel equally squeamish on the topic. This occurs when you have not adequately established your self-worth and can be easily avoided.
If you’re able to show that what you offer your clients is worth way more than what you charge you will always find clients willing to pay for your services.
So how much are you really worth and how do you ensure that you get it?
How you come across to your clients will pre-determine exactly how many zeros you can happily ask for on your invoices. If you’re not sure of your worth your clients will pick up on this and their value perceptions of you will diminish – and so will your fees.
It is critical to charge a fair price for your services because if you don’t you as a business owner will feel underpaid and this will lead to feelings of resentment and impact on your business relationships. And this could ultimately lead to their destruction.
SELF-VALUATION TIP 1 – This is going to sound a little funny but this really works. You need to sell your value and your worth to yourself first before you can sell it to anyone else. So set a few minutes aside and look at your achievements and successes as a result of your hard work.
Answer these questions:
(1) In what way do I improve my clients’ successes? (2) What do my clients get from me? (3) What do my clients get from doing business with me?
Now is not the time to be shy. You need to dig real deep because all too often we forget the real value of our work and our achievements.
Ask for feedback from your clients; request testimonials from past clients; and talk to friends and associates about what they get as a result of doing business with you.
Even better, type up your name and your business name in a search engine online and find out what others have to say about you. You could appear anywhere from message boards, articles, testimonials, reviews, recommendations, etc.
Now that you’ve taken the time to explore the many ways that you help people grow their businesses you need to change your way of thinking from “Why should clients use me?” to “How can clients not afford to use me?” Take the time to read through all the positive feedback you have received in tip 1 and everything else will be easy.
SELF-VALUATION TIP 2 – Now you need to put a real dollar figure on what you think is a fair fee for your service. Remember that if you price yourself too low your clients won’t think you have anything valuable to offer. If you price yourself too high your clients may be worried that they won’t receive value for money.
Reach a happy medium by being priced high enough to build a perceived value in your service but low enough so that you don’t price yourself altogether out of the market.
Exceed your clients’ expectations by adding value to your services. Think of ways that you could offer higher priced services by adding more value.
(1) Give a better service (2) Share more of your knowledge and resources (3) Offer different levels of service ie. Basic, medium and premium so that your clients cover a range of demographics (4) Offer joint venture promotions with other consultants
Once you start writing the list you may have trouble stopping :O).
Bear in mind that you should earn good money for good work and that does not include making your clients pay for your past mistakes. It is not up to your clients to pay for any financial messes you have created along the way, so make your reasons for needing money realistic and honest.
If after this simple process discussing money with your clients still makes you feel awkward then think about the signals you are transmitting and demonstrate that you are open on the topic of money and it will become less of an issue for you.
Be generous and open-minded enough to realise that clients, like you, do experience financial difficulties at times and if they cannot afford your current level of service then consider offering them the parts of your service that they can afford.
After all, a client is much better in your pocket than in your competitors’ and if you take the time to prove your worth then they may very well stay for life.
That will put far more money in your bank account in the long term than being stubborn over a few hundred dollars in the short term, don’t you think?
Karin Manning has been marketing online since 2002. To access a “just released” SPECIAL REPORT where a leading expert reveals Step-by-Step Internet marketing strategies scientifically tested and proven to instantly INCREASE your online profits by 437% or more visit: http://www.marketingtips.com/t.cgi/878348
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