I love this time of year. It holds both the wisdom of the year past and excitement for a fresh start! I find myself with a renewed energy in looking forward, planning, creating and infusing vigor into my own business, giving it a makeover!
I am sharing with you three behaviors that will give your business a renewed energy, more respect and more money! Let me know how they work out for you.
Ask For More
If you’ve been to the gas pumps and grocery store you know prices have gone up. My favorite bag of lettuce went up over a dollar a package at Trader Joe’s. Inflation goes up about 4 percent a year.
Are you keeping up with inflation by raising your rates for the services you provide? There’s no better time. Clients expect you will raise your rates annually, it’s part of doing business. If your clients are receiving great outcomes from the work they are doing with you, rarely will they complain or leave you if you give yourself a 10 percent rate increase. It’s also more fair to your client if you raise your rates annually rather than keep your rates stationary for a period of years and then give yourself a big rate hike. The latter can be confusing to your client and create more upset.
Your fee also sends a message and reflects how good you think you are. Your fee influences the buyer’s perception of value. When I first started my business, I marketed myself in a directory with other colleagues who provided similar services. The fee I charged for my services was more than my colleagues charged. A prospective client called me, after interviewing every single counselor in the directory and told me she wanted to work with me. When I asked her why, she said, “Because you charge the most so you must be the best.”
Practice the Pause
The “Pause” is a negotiating technique where short moments of silence are used in order to give you time to think before you say “yes” to an agreed price for your services. Women have a tendency to “automatically accommodate” others first while putting their needs and wants second. Using the “pause” will help remind you to “ask for what you want and need” first! This technique allows you to think before you speak.
One of my clients recently did an outstanding job using the “pause.” A person had asked her to do some free lance work and told her their budget could afford $500 for a few hours of work. She “paused” which gave her time to gather her thoughts and she negotiated back with this response. “ For this amount of work, I normally charge $750. What will make this work for me is if you pay me in cash.” She got what she asked for!
Practise “pausing!” It’s empowering! The next time you are asked to provide a service for a certain fee, create the time and space you need before you answer back. You can use this in your personal life too, when requests are made of your time, money or energy. When you check in with yourself and respond back to others with your authentic voice, you are more honoring of yourself and give others permission to do the same. It’s great role modeling and outstanding self-care!
Only Work With Ideal Clients
This year I am committed to working only with “ideal clients.” In fact, after I declared this intention for myself, within one week, all of my non-ideal clients cancelled appointments indefinitely! To be honest, some fear set in and then I remembered my intention and took a deep breath and thanked the Universe!
I find my energy and joy are at their highest when there is a good fit between the services I offer and a client’s commitment to their own internal work. This is when great outcomes happen!
So, one step I am doing is identifying my “ideal client.” Here’s my list so far. My ideal client:
- Is open to change and has the courage to walk through fear and resistance
- Enjoys celebrating ah-hah moments
- Values my time and efforts by accepting my hourly rate and paying me per my office policy
- Has the capacity to explore the connection of body, mind and spirit in regard to money
- Has a commitment to live a life of joy and abundance
- Shows up for the process and themselves
- Has a commitment to authenticity
Recently, I read a great on-line article by Rashid Kotwal, titled, “Are You A Zombie Hunter?” Rashid says we business women need to shed the belief that, “The more clients you have, the more money you will make.” While up to a point this is true, they have to be the “right” clients.
She says non-ideal clients take up our time and drain us. We spend more time worrying about challenging client relationships which affects our happiness and productivity. Rashid tells us to follow the “Pareto principle of the 80-20 rule, 20% of your clients will be creating 80% of your revenue. Another 20% will be creating 80% of your problems and 80% of your results will come from 20% of your work.
The trick is to find out which group is which, and spend your energy meeting the needs of the 20% who make you money, while gently, but firmly, sending on the rest to do business with your competitors!”
Asking for more, practicing the “pause” and only taking on ideal clients are great ways to create a financial makeover in your business! Taking these three steps will increase your energy and give your business a fresh start from the inside out!
