Starting off and running your own business brings with it a plethora of dilemmas. For me the main one was, “What do I charge?” and “Will they think I am worth what I am asking them to pay?”
When I had decided to start my own business from home, I was pretty scared, actually terrified, I had a family, a mortgage all the usual debts and bills and I had left a really good, well paying job to do it.
I had done all the research, complied with all the legal requirements and I was ready to go; excited much? A resounding yes!
For the couple of months prior to leaving my job, I had started sourcing clients so that I would hit the ground running, sounds right, yes? Well, yes it was the right thing to do but I had made a huge mistake, a mistake that I would pay for for the next few years. I was willing to charge a reduced rate just so that I could firstly, get new clients, and secondly be able to retain them. Yes, I was getting plenty of work but I was working like a Trojan. I was working 12 to 13 hour days to make the same about of money I was making in a paid job for working eight hours, without the benefits of annual leave, paid public holidays, sick leave etc. Worst of all, I was spending less and less time with my family which was my main reason for wanting to work from home in my own business, flexibility I thought, how wrong I was.
Quite jaded with the whole ‘work for myself’ idea. I had less money, less time and far more stress. I had considered closing my business and looking for a permanent job again, but I was torn, I still wanted the flexibility to spend time with my friends and family, should I ever find the time.
I don’t know exactly when it struck me that I could continue doing was I was then doing, whilst I sourced new opportunities with new clients, but I believe it was my best friend who pointed me in the right direction. She said to me, “If only you saw yourself, the work you do and the way you work the same way as others do.” I remember I just laughed it off and didn’t think too much about it at the time, but she was the turning point for my whole business. I’m not sure that she was 100 percent right about how others saw me, but she certainly opened my eyes to my thoughts of my own self worth.
The opportunities did come in and so did the new clients; very few of them even batted an eye lid when I told them my rates. These days when I’m asked my rate, I don’t even think twice about it, I tell them what it is and if they want me that’s great, and if they don’t that’s great too. As the old saying goes, you get what you pay for and that is what it is.
It is also important to remember that you only get paid what you think you’re worth. If you really believe that you provide the best service and are providing what your clients require, then you should also feel confident that you’re charging a suitable fee. It is easy to doubt your own value and self-worth, but it will show, if you believe in yourself others will believe in you too.
So my lesson here was to re-evaluate my own self worth, I did, and looks who’s coming up roses.
Have a great week!