Free doesn't pay the billsApr 05, 2023
As a female entrepreneur, it is crucial to understand the importance of charging for your services and not working for free. While it may seem like a good idea to work for free when starting out in business, it can undervalue your work and make it difficult to raise your prices later on.
Eroding the value of your work
One of the biggest reasons why working for free is not beneficial is that it erodes the value of your work. When you start working for free, it becomes difficult to raise your prices later on. People will begin to question whether you are good at what you do and may not be willing to pay for your services. This is especially true for coaches who offer free services as part of their training. While this may be necessary to get certified, it is important to start charging for your services once you are qualified.
Attract paying clients not bargain hunters
Another reason why working for free is not beneficial is that it can create a perception that you are not worth paying for. When word gets around that you are providing services for free, people will either expect to get them for free or question your abilities. This can harm your reputation and make it difficult to attract paying clients. Therefore, it is important to establish yourself as an expert in your field and charge what you are worth.
One of the most frustrating things for entrepreneurs is when large companies ask for big discounts or expect free services in exchange for exposure. While it may be tempting to accept these offers, it is important to consider the long-term effects of working for free. Even if a company promises to tell everyone about you, it is unlikely that you will be able to charge your desired rate in the future. Therefore, it is important to stand in your power and charge what you are worth.
Exposure doesn't pay the bills - or cover the cost of your time
When it comes to events like International Women's Day, many companies ask female entrepreneurs to speak or lead workshops for free. While it may seem like a great opportunity to get exposure, it is important to consider whether the company is your ideal paying customer. If they are not, it is important to charge for your services and stand in your power as an expert in your field.
Stand in your power - and charge a fee
So, what can you do to ensure that you are charging what you are worth? Here are some action steps to consider:
Establish yourself as an expert in your field: It is important to establish yourself as an expert in your field and provide value to your clients. This will help you attract paying clients and charge what you are worth.
Set your rates: Determine how much you want to charge for your services and stick to it. Create a rate card, and do not allow anyone to undervalue your work or negotiate your rates.
Create a portfolio: Build a portfolio of your work to showcase your expertise and attract paying clients. This will also help you establish your value in the marketplace.
Network with other entrepreneurs: Networking with other entrepreneurs can help you find paying clients and establish yourself as an expert in your field.
As a female entrepreneur, it is important to understand the value of your work and charge what you are worth. While it may be tempting to work for free, it can harm your reputation and make it difficult to attract paying clients. Therefore, it is important to establish yourself as an expert in your field, set your rates, and stand in your power as a business owner. By doing so, you will attract paying clients who will value the products or services that you provide and help you build the foundations of a successful business.
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