Undercharging is a very common practice among female entrepreneurs, especially service providers. Unfortunately, many of us still struggle with knowing that our time and expertise are worth a premium.
If you’ve been struggling with charging your worth, here are three keys to getting paid what you’re worth for your services.
1. Implement a Daily Mindset Practice
Most Entrepreneurs underestimate the importance of a mindset practice. It’s everything. Having a mindset practice can not only help you come up great, money making ideas, but it can also help you remain connected to your value and price your offers accordingly.
My daily practice doesn’t take forever, but it includes what I believe to be the essentials. A few minutes of clearing my monkey mind and focusing on my breath, some visualizations of what I want to achieve or create in my life, writing down what I want and how it will feel to have it and finally some quiet time. You don’t have to do an hour of mindset work for it to work, you just need to be consistent.
2. Create a Leveraged Income Stream that Brings in Consistent Income
Having a leveraged income stream can help you even out your revenue so that you’re not caught in the feast/famine cycle that many coaches and service providers often find themselves in. By creating a lower priced offer such as a group coaching program, membership or other offering where your time is leveraged, you can serve those in your community who aren’t ready or able to invest in your higher priced programs.
Not only will a recurring leveraged income stream allow you to serve more people in less time, it also helps you to be able to charge a premium for your signature programs or your high-level one-on-one packages by helping you stay out of the feast or famine cycle that leads to undercharging just to make ends meet.
3. Create a Signature Program Where You Over Deliver in Value
If you have not created a Signature program yet, please do. Your signature program is like your special sauce. It’s a culmination of all your experience, training and the modalities you use to help your ideal clients get from where they are to where they want to be.
You should create an amazing Signature program that is packed with tons of value. The more value you pack in it the more confident you’ll feel that what you’re offering is worth charging a premium price.