I have now met with 3 clients who added goals to pay themselves. What’s the fun in having a business if you can’t pay you? Yes, in the beginning, a lot of money has to go back into the business to keep it going. Even if you only take $20 a week you are a line item and you are paying you. You could also write a full check for you and just not cash it until you are ready but at least you are listed.
Let’s talk a little about pricing especially for those of you who sell a service. How do you determine prices? Products are easier as you take the wholesale price and usually double it to include overhead. Are you including all the expenses? With a service, you must set a price for your time and more importantly for your expertise! Your knowledge is worth something! You evaluate what the competition is doing and begin somewhere in the middle between the high and low ends. Too often people undercut themselves.
I remember colleagues just starting out being so grateful to have a client they low balled the price then because the client kept them on they couldn’t raise it and actually lost money. They were tied into a low paying client and didn’t have time to attract higher paying ones.
Remember this business is because you had a dream, a passion, a purpose, and it would not have existed without your idea. You deserve to be paid
If you want to ask more about pricing, firstname.lastname@example.org