Yellow Dog Consulting

Sales & Marketing Consulting for solo-preneurs.

Why Don’t (some) Women Charge What They’re Worth?

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Hank walked by a 3 year old
Sometimes a 3 year old WANTS to walk Hank and so you pay him in Auntie hugs instead of his hourly rate of apple juice

I had a great call with someone today – it was a free 1:1 consult and it was exactly what I needed. After we finished, I realized I would have gladly paid for the time, it was incredibly valuable. Obviously it was a lead generation tool right? Offer the free call, show what you know and what you do and then overwhelm me so I have to hire you to do it for me. That’s the point of the “free” call. At the end of the call I said that I could use some help with some of what we talked about and asked about rates and availability. And the hourly rate needed to be at LEAST double. And I told them so. “Well, I’m new and I want to be affordable and…”

Charge what you’re worth.

I scheduled Hank at the dog sitter for next week while I’m out-of-town and noticed the rate increased $5/day. Not a problem, but I did inquire since she hadn’t mentioned it.

Yes! My rate increased. Sorry to change things up, but I’ve been realizing my demand has been increasing.

Excellent, you SHOULD increase your rate when your demand increases. And we are so grateful for her, she could honestly charge us whatever she wants and we’d pay it since we have the world’s most coddled dog…And so I wrote back, “great, glad you’re charging what you’re worth!”

Thanks so much! I’m not sure if I’m worth it, but I know people enjoy having me watch their dogs:)

Oh honey. You’re worth it.

Why do we, as women specifically, do this? When I started my business I charged about half of what I charge now. I did a couple of big price jumps and you know what? One client, who’s contract was up (and was kind of a pain to work with) didn’t renew. And then two more awesome clients signed on and had no problem with my rate.

Charge what you are worth, not what you think the market can afford.

I outsource a lot of things in my life (less now, but still a good chunk), and I couldn’t go without a house keeper (we’ve tried, the shower turns a weird pink in corners…) but if I can bill one hour in the time the housekeeper is here, it’s paid for itself.

It may be time to reevaluate your rate, and if no one flinches at your rate or comments on the “great deal” they’re getting, it’s time.

I am happy to give you that kick in the butt pep talk if you need it!

Time is Money People!

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time is moneyI met up with a friend the other day who had a lunch meeting earlier in the day. I knew she had a meeting so asked how it went . Short answer: frustrating.

  1. The lunch meeting was 2 and a half hours long! When my friend got into her car she thought maybe it was 1:30, but no, 2:30! So none of her afternoon tasks were going to get accomplished, which COST HER MONEY.
  2. Everyone there was in a direct sales business, and entirely too much time was spent on this piece of the “pitch.” Read the room people, it’s rude!
  3. They dismissed my friend’s business, business model and price/value of her products. WOW. Sure I’ll give you my money and buy your crap now!

If you have a boss in town, or up-line director visiting and you need to impress them, that’s just fine. And by all means, stack the room with your friends. But also make sure that everyone is on the same page: how long will this be, who’s paying, are they hoping to sell products or bring you into the business, etc.

Don’t be disrespectful of people’s time. Often times if a meeting goes long, I’ll just leave. Even if I don’t have to be somewhere, I do have places to be, and a schedule to keep. Every hour I’m not at my desk working or meeting with a client, is time I’m not making money. Sometimes that’s okay, but just because you have no plans the rest of the afternoon, doesn’t mean your guest doesn’t. Be respectful of people’s time.

As we all know, time is money!

Who Do You Help First?

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how may I help youI was chatting with a friend today about poor customer service. We all know it when we see it, and we’ve all had it. I mentioned that at my vision center if I called to order something and a certain sales rep answered, I’d just hangup and try again later. And if he was working when I walked in, I’d turn around and come back later. It was that bad. One time while he was “helping” me he answered the phone and then spent the next 10 minutes helping that person and leaving me hanging. Which brings up the question: who’s your priority?

The Client in Front of You

This is the priority. The person you’re talking to in real life deserves your undivided attention. Now, if you work in a location and you need to answer the phones (like at a vision center) do it quickly and call that person back. But better yet, send it to voicemail. The person in front of you is the person most likely to give you their money if they haven’t already. And if they HAVE, don’t touch that phone or email, this person deserves your undivided attention.

The Person on the Phone

If they can’t get off their butt and come to you then they can wait. Now, if you work in a situation like me where people don’t come to my office, then the phone caller is the top priority right? YES. If I don’t recognize a phone number I won’t usually answer it. It can go to voicemail and I’ll call them back when I have a minute. But I will call them back, or take care of any request they leave for me.

The Person in your Inbox

You should respond to emails within 1 business day if you ask me (and I know you wish you hadn’t). When I get to my desk in the morning I do a quick run through my emails to see what clients I need to work on for the day, and clean out all the other “stuff,” (newsletters, spam, meetings, personal stuff) quickly so I can focus on the clients who need me. Figure out how to prioritize your inbox. If it’s an emergency they’ll usually call or show up.