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Knowing your Worth
Happy Tuesday Queens!!
Can you believe we are almost finished with the month of May?!?
I really wanted to chat about knowing your worth. As someone who has been contracted for the past 5+ years I can tell you I had to learn a lot. In the beginning, I was just happy to get work. I would say YES to any, and every project that came my way. Whatever rate they offered I took! In the back of my mind, I thought I was doing AMAZING! I had steady work, personal income and finally could call my self "Self employed." The only down part was I watered down my worth. I wasn't charging for the long nights of work, the events I traveled to, and even the meals consumed for working events. It took a lot for me to become confident in they way I market myself, and setting a rate I knew I needed to maintain my business.
I wanted to share my top 3 tips on establishing your worth.
#1 The word NO is not a bad word
It is okay for people to say "that is not in our budget" That doesn't mean a sale is over. Ask them: "What is your budget, and I can let you know what services are cover under that rate." That allows you to get paid, and to set service boundaries.
#2 Payment Boundaries
Boundaries are a must. Whether you are setting up times or payments. Add payment times, penalties, and rate on ALL contracts, so you know you are getting paid. Depending on your business, decide if you like to get paid upfront, half before and after, or once the project is completed.
#3 Research rates similar to your profession (and add 10%). The difference with being an enterpreneur is that clients get a one on one experience that they wont get with other companies. QUEEN, you deserve that payment. (then go back to tip #1).
I hope this helps you ladies in your quest, especially during this pandemic. What are your tips for securing the bag?