Help with Starting a New Business – 3 Tips for Pricing without reinforcing your Low Self Esteem

About two or three years ago, when I was still chasing an hourly rate,  I was trying to find an evening position as a Pharmacist at my local Independent Pharmacy.  I had decided to prospect all the pharmacies in my area that opened until 9, 10 or 11 pm or even until midnight.  As a self- employed pharmacist and stay at home mum, I was determined to figure out a way to bring in an income and yet do it around my princesses and my family.

I remember driving round with my brother and princesses in tow, so I could run into the pharmacies with my newly updated CVs without lugging the princesses out each time.  I would ask if they were looking for a regular evening/night pharmacist.  It was interesting…

Help with Starting a New business

Obtained From: http://www.publicdomainpictures.net/view-image.php?image=17993&picture=british-pound

Anyway, I finally got a bite from a pharmacy pretty close to me.  It opened until Midnight and I would be required there fairly regularly.  All sounded great!; especially when I got a call from the owner asking me if I was available to pop into the store and have a chat that very evening.

Off I went, having pulled in my ‘recently birthed a child’ belly and wearing my best MAC Makeup.  I was ready to convince this guy he needed me.  Usually, I come across quite well in these situations but I was feeling a little under – confident having just had a baby, still weighing 2 stone more than I liked and having to pull in my belly :-D.

I get to the store and he goes over my CV with me while selling the shop and all its upsides to me, it seemed he was convincing me to work for him which was a pleasant surprise.  I went around with him and ‘oohed’ and ‘aahed’ in all the right places.  Everything was going well.  He mentioned he was interested in my CV Opening Statement which went…

Now seeking an opportunity to demonstrate abilities and make a significant contribution within a dynamic organisation

He particularly loved that statement.  Bear in mind that a family friend had placed this on my CV when I was 17, it wasn’t something I had truly thought through.

All this to say, we got to the end of this very positive sounding conversation with him asking me if I would accept a very, very, VERY low version of my wage.  I said I would think about it and after 2 hours of smiling and answering questions, I returned to my home feeling irritated.

I KNOW I am worth more than this paltry amount and yet, I desperately wanted an evening job so I was kinda tempted…

You ever felt that way? Do not Give in.  You need to have an abundance mentality that allows you to walk away, knowing that you are opening the door to the next better thing.

Lots of people forget the worth of their service or product in the face of the immediate offer.  You get all worried that nothing else is going to come your way so you accept the first penny anyone throws your way.

The truth is, this guy would never accept someone paying him this sum BUT at the same time, he offers it to me. Yes, I honour him for his ability to run a thriving business, however I needed to know my worth and refuse to work for anything less than that.

You Do too!

Three Tips to Pricing Yourself Right – A little Help with Starting a New Business

1. Figure out what your product/service can bring to the table.  What numerical difference can you make to your service user’s bottom line?

2. How much is the bare minimum you want to earn based on your experience and the market for your service?

3. Put those two together and have an internal figure that you will automatically say ‘No’ too.  Anything above that then becomes negotiable.


 

How do you decide what your product or service is worth?  Have you ever given in to the first offer?  I would love to hear how you go about pricing yourself, leave me a comment below.  And if you are interested in earning a little money from home, just fill in that form at the top right of the website.

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