This isn’t the first time I have talked to you small business owners and entrepreneurs about handing out freebies or discounts when you feel pressured. And it won’t be the last because this is a disease that must be stopped.
I run into this nonsense every day in my small business coaching. No comprende why customers feel they are entitled to your wisdom and skill. More confusing is why you as the expert/purveyor would even consider such a request. You set your price, not them.
Here’s the reality: Money makes the world go ‘round. It’s not evil. It is our transactional cheese whiz, spread on everything we touch. Try living without it. It is how we pay bills and buy stuff we don’t need.
Small business does not mean slight, minor, unimportant, trifling, trivial, insignificant, inconsequential, negligible, nugatory or infinitesimal. It means business. And anyway the SBA defines a small business as a company independently owned and operated, organized for profit, with revenues are generally under $21 million, depending on the industry. That kind of money does not drop from the sky now does it?
What are you worth? That is the real issue here. You’ve gone to all the trouble of opening a small business, perhaps taking on a partner, hiring employees, buying office stuff and doing your thing. What is that thing worth? What is its value? Here are a couple a questions you might want to ask yourself:
- Do you feel you are worth anything or are you suffering from low self-esteem-itis, a malady created entirely by you?
- Do you feel your product or service has value? Why or why not? If you have a sucky product or service that people don’t value it’s clearly time to review it and perhaps make a change. If you are spot on with something fab, then the problem is you.
- Do you feel like you’re going to throw up when you have the money conversation with clients?
- Do you feel stupid about money and avoid learning about it at all costs? (And man oh man, the cost of doing this will frizz your hair even if you have none.)
- Do you even have a clue about how much you make, need to make, spend, save and can earn if you invest wisely?
I didn’t think so.
Things to consider:
- Call me to help you understand why money is your personal boogeyman. (Yup, I’m shameless because I’ve been where you are and knowing your why will help fix the problem. It’s a process . . .)
- Get yourself educated about money and finance. A great place to start is by reading/listening to Tony Robbins’ new book MONEY Master the Game: 7 Simple Steps to Financial Freedom and working with his free app that will clear your mind like a good storm clears the sky. He will tell you where to find it. It cannot be easier than this. (Nope. I’m not an affiliate. Of anyone. I just love this book for my clients.)
- Develop a budget and investment plan and then nurture it as you would a child, flower or new boyfriend/girlfriend. Money is just energy that needs to move, shift, change, grow, deflate and all the things energy does. It will get your attention one way or another. Best if you make friends and create positive vibes.
- Go have a glass of wine and congratulate yourself for slaying this dragon. Don’t worry . . . there will be others. I guarantee it.