It’s official. Effective January 1, 2012, I’m raising my legal and coaching fees across the board. I’ve spent the last two weeks poring over 2011’s financials and which goals I met and which goals I didn’t. And it’s clear. I didn’t make two of my 2011 goals. I didn’t open as many new clients (or [...]
As we discussed last time, at some point, you will have to deal with delinquent invoices. Clients who fail to pay, or pay slowly are serious threats to a small business, so they must be handled swiftly and directly. Here are my recommendations. First, as soon as the invoice goes past due, call the client. [...]
For any small business, cash is King. Without a doubt, the single most damaging risk to you as a small business owner is negative cash flow. One of the many reasons for negative cash flow are slow or no paying clients. They can sink you faster than you can say “small claims court”, if you [...]
I’ve discussed this before here, but after a recent coaching session with a client, it bears repeating. Lowering your fees to beat the competition is not a good, long-term strategy. What do you think? Leave me a comment!
Here’s a great follow up to my previous post about getting paid. This article points to the problem small business owners have in setting fees. Can you relate to this? How did you figure out how much to charge? Is it an art? A science? Post a comment. I’d love to hear from you!
When it comes to negotiating your fees, I tell women all the time, that’s a slippery slope to the “out of business” pit. So, how do you get paid what you’re worth instead of discounting your fees just to get a client? First, always use a contract or fee agreement with every client. There are [...]
As the therapist around here, I believe in being transparent, honest, putting-the-naked-monkey-on-the-table…you get the picture. So, in the spirit of being/doing all those things, I have a confession to make. Today’s therapy session is a weakness of mine. In other words, I need therapy on this issue myself. Charging. What. I’m. Worth. And based on [...]