Lessons for the entrepreneur
These same messages apply to the entrepreneur and business owner just as much as the full-time employee. Many entrepreneurs charge the least amount possible out of fear that clients won’t pay more. Then they worry what will happen if they ask to raise their prices.
Remember that at its most basic level, a business is all about earning the money that’s deserved for whatever value you bring to customers. By undercharging clients, you send the message that your services and talents are worth less. You undermine the unique value you bring to the table and open the door to resentment down the road. And you end up attracting clients who are pure bargain shoppers, the ones who are looking to get a lot for a little. If you run your own business, don’t be afraid to ask for more upfront. And don’t be afraid to raise your prices. It will make for a more successful, more sustainable business in the long run.
At the end of the day, whether you’re an employee or entrepreneur, you need to be your own advocate throughout your entire career. If you don’t promote your own achievements or ask for what you deserve, you can be sure that no one else will do it for you either.
- The Hiscox Authors Series for Entrepreneurs Returns (hiscoxusa.com)
- Small Business Owners Losing Sleep but Not Losing Hope in 2012 [INFOGRAPHIC] (hiscoxusa.com)
- Rebekah Epstein: Love Connection: 5 Dating Tips for Entrepreneurs and Small Business Owners (internetsuccess4you.wordpress.com)
- Five minutes with an entrepreneur: Jon Slinn (hiscox.co.uk)
- Entrepreneurship is Genetic – 3 Lessons in Business from Dad (krispennella.com)
- Investors Seek Out Entrepreneurs With Resilience (businessinsider.com)
- Investors Seek Out Entrepreneurs With Resilience (startupprofessionals.com)