How do I know what price to charge?

Do you ever find yourself having a bit of a heated internal debate about whether you’ve got the pricing right in your business? I know that for a lot of people who are growing a business, price is one of the most difficult and often most uncomfortable areas of business. It brings up all sorts of questions about worth and about value; it really does have a huge amount of emotion connected to it. It can trigger lots of questions like: “What’s my value? What’s my product or my service worth? What’s my worth? What does value really mean to my customers?…

Why You Deserve A Payrise!

I’ve been talking to several clients recently about their business goals. It’s reminded me how common it is to see people running a business, working tirelessly to deliver a fantastic service to their clients but paying themselves a frankly measly salary. So many people pay everyone and everything else before they pay themselves, and are almost grateful if there’s anything actually left for themselves once everything else is covered. It’s a very British trait. But it’s bad for business! And here’s why … Because You’re Worth It! There’s absolutely nothing wrong with wanting to earn a fair wage for a fair day’s work….

3 Ways To Get Paid Faster

One of the most damaging things to a small business is having clients that pay late.  The best laid plans can be shattered when expected payments don’t arrive. You may then find yourself in that awkward situation of having to juggle the payments due out of your own business and working out what’s the most urgent versus what can wait. You might have to put marketing or outsourcing plans on hold because you no longer have the budget. And of course you have the headache of how and when to follow up. How do you chase up this money…

Does Putting Your Prices Up Fill You With Dread?

At this time of year I always find myself talking to a lot of people about their prices. There’s a natural trend within all the new-year target setting for people to decide that the time has come to charge what they’re truly worth instead of underselling themselves. Price is a hugely emotive issue though, and that makes it very difficult to be objective about it when it comes to your own business. You may well know that you’re undercharging but still have a mountain of doubts about putting your prices up. Many people worry over questions like: Will people think I’m worth…

Untangling The Confusion Around Cashflow Forecasts – Part 1

I’m a firm believer that every business large or small, well-established or brand-new, needs a cash flow forecast in place yet only around 10% of the businesses I talked to actually have one and use it regularly. The 3 main reasons people give me for not having this in place are: They don’t know how to do it They don’t see any benefit in having it so they’re not sold on why to do it (I know I’ve got enough cash in the bank to pay for everything, isn’t that enough?) They don’t want to face up to the truth…