{"id":5083,"date":"2018-02-12T11:58:03","date_gmt":"2018-02-12T19:58:03","guid":{"rendered":"http:\/\/charlesavemktg.com\/blog\/?p=5083"},"modified":"2019-07-25T13:53:14","modified_gmt":"2019-07-25T20:53:14","slug":"top-tip-female-entrepreneurs","status":"publish","type":"post","link":"https:\/\/charlesavemktg.com\/blog\/top-tip-female-entrepreneurs\/","title":{"rendered":"My Top Tip to Female Entrepreneurs"},"content":{"rendered":"\n

I\u2019ve been in business for myself since 2013. Launching my marketing agency has been one of my life\u2019s most rewarding accomplishments, but the intervening years have been filled with hard lessons, too.<\/span><\/p>\n\n\n\n

While no piece of advice will spare you from the ups and downs of entrepreneurship, almost every struggle I have had as a female business owner is overcome when I remind myself to know what I’m worth.<\/span><\/p>\n\n\n\n

For me, knowing my worth means two things: being unapologetic about the rates that I charge and being equally unapologetic about collecting those rates.<\/span><\/p>\n\n\n\n

Charge what you are worth.<\/b><\/span><\/h3>\n\n\n\n

We all know that salaried women earn less on average than men, but a business owner, especially one who provides professional services, is in the unique position to set her own rates.<\/span><\/p>\n\n\n\n

Ask for what you’re worth, and don\u2019t hedge or apologize when you\u2019re not the best bargain around. My accountant and business mentor Vicki Knight has a sign in her office that reads, \u201cMost industry surveys confirm that the fees we charge for our professional service are very reasonable and competitive. They are also not negotiable. If price is your most important consideration, and you find someone else who will work cheaper, go for it, but remember that you get what you pay for.\u201d<\/span><\/p>\n\n\n\n

You certainly don\u2019t have to be as bold or forthright. But you also shouldn\u2019t demur.<\/span><\/p>\n\n\n\n

\"marketing-rates\"<\/figure>\n\n\n\n

Think of it this way: Have you ever gone on vacation and haggled over the price of a souvenir? If you\u2019re like me, no matter how little you paid, you walk away feeling like you probably got taken. In contrast, if you go to a souvenir shop with set prices, you decide on your own whether the price is fair and make a purchase based on that decision.<\/span><\/p>\n\n\n\n

In other words, you never want your clients to resent what they pay. You want them to think that your rate is fair and worth every penny. Standing firm about your rates sets a tone in the business relationship that you take your time seriously and know how that time should be valued. If a potential customer does not agree, your precious time is better served elsewhere.<\/span><\/p>\n\n\n\n

I don\u2019t wish to imply that clients are trying to take advantage of you or that they might try to negotiate your rates simply because you are a woman. But because you are a woman, you have been socialized to concede to them in the interest of avoiding conflict. When a potential client disputes your rates, don\u2019t shrink from the question. Instead, use it as an opportunity to explain how you arrived at your pricing, delineate what sets your business apart and offer to connect them with references who are satisfied with your work.<\/span><\/p>\n\n\n\n

Collect what you are worth.<\/b><\/span><\/h3>\n\n\n\n

Once you have an agreement in place, approach payment collection as firmly as you did at the outset of your business relationship. If you\u2019ve set the right expectations, this won\u2019t come across negatively to clients who are late on payments. On the contrary, most clients will quickly address any issues and appreciate your bringing them to their attention. <\/span><\/p>\n\n\n\n

Unfortunately, there will likely come a time when a client refuses to pay. I\u2019ve had this happen twice so far. In each instance, there were never any outright insults about my being a woman, and I certainly never remarked on their being men. But regardless of whether there was any sexism in the nonpayment, I wasn\u2019t about to be a pushover. When we have an agreement, I intend to enforce it.<\/span><\/p>\n\n\n\n

Knowing what I am worth at the start of (and throughout) my business relationships has been foundational to my success. I wish for every female entrepreneur to be confident and unapologetic in how she commits her time and to make her clients feel that her time is well worth it.<\/span><\/p>\n\n\n\n

This column originally appeared on Forbes<\/a>. <\/em><\/p>\n\n\n\n

A snapshot of entrepreneurial women<\/h3>\n\n\n\n

According to Freshbooks, there are more of us than ever: women represent 40% of new entrepreneurs in the US. But, as the graphic shows, they still hesitate to charge what they’re worth, and they’re still likely to accept work that undervalues them. Even though self-employment gives us the power to set our own rates, self-employed women still earn 28% less than our male peers<\/a>.<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"

I\u2019ve been in business for myself since 2013. Launching my marketing agency has been one of my life\u2019s most rewarding accomplishments, but the intervening years have been filled with hard lessons, too. 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