As I was getting my nails done a few weeks ago, my nail tech hesitantly informed me she was raising the price on all her services $5. Prices of her supplies had gone up and she’s been doing nails for ten years without raising her prices. She’s COMPLETELY booked out, as in, not even taking new clients and she’s fabulous at what she does. Immediately my first reaction was, YAAASSS! You are worth more than you're charging. You’re booked out, you’re top notch and your service and style in the nail industry is most definitely worth a $5 or more raise per service.
Why was she so hesitant?
She doesn’t know her worth! That’s why. She’s SO good at what she does, but maybe she doesn’t quite believe it? I asked her why she was hesitant and she said, “Because people are hurting out there. People already struggle with money, I don’t want to make it harder on them.” While that thought is extremely kindhearted, as my nail tech is. No matter what others can or cannot afford, she is worth more than she thinks. The clients who cannot afford the $5 raise may leave. I told her “bless and release!” Those who are suppose to continue coming will and those who don’t won’t. It’s business, not personal.
Gals, charge your worth. No one else gets to determine what your worth! If you say your coaching sessions are $50 and hour or $200 an hour, you are worth it! People will pay for your services. It’s a proven fact, if someone wants it bad enough, they WILL get it.
What’s cool is if you charge more for your services, you’ll be able to give more and in turn have happier customers and a growing business. If you charge the bare minimum, you and your business will suffer the consequences. My nail tech is now charging her worth and after I chatted with her, hopefully she was able to pick up on how amazing I think she is.
Another example of charging your worth, because I love hearing real life stories, don't you?!
I have a friend who is a graphic designer and is completely aware of her worth and time. She charges $20 per hour for a certain client. Sometimes it takes a whole hour for one design and sometimes she can pop out 40 designs! Well, when she got all the designs for this particular client done in one hour, she had provided over 10 images and only got paid $20! So she decided to lay out a better compensation plan for herself so that it was WORTH HER TIME. She decided to charge this client $200 a month for 60 designs and a discounted price after 60 (completely reasonable in this industry). She told her client with confidence and her client jumped on this because it was still a smoking deal even through it’s significantly more money. It was a win win for both. My friend is making money that’s worth her time. Her client still has an amazing graphic designer and gets great service for a base monthly fee.
By charging what you’re worth, you may be able to provide more services at a discounted price for those who can’t afford it. Maybe you’ll be able to donate some of your income to charity of your choice! Or heck, maybe you’ll even be able to pay off a car or take that vacation you’ve been wanting to take (but haven’t been able to because you haven’t been making enough!).
Do you see? Believing in yourself as a business woman also means having the confidence to KNOW YOUR WORTH. One of our favorite quotes here at Business Building Women is, “ When you learn how much your worth, you’ll stop giving people discounts.”
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