What it means to charge your worth

Emma Bowdler | The Women's Accountant

EMMA BOWDLER

I’m a cheerleader for women and an accountant bursting with personality. 

When you first quit your day job and start working for yourself, it can be liberating to be able to charge clients as much (or as little) as you like. But it can also be intimidating. Many people who are new to being self-employed – particularly women – tend to doubt just how much their services are worth. Paired with the threat of competition, this can make it easy to fall into the trap of trying to get any work, rather than aiming to secure good work.

But while it’s true that some people will walk away if your quote is out of their budget, others who value your services will still happily sign up, and it’s this latter group who you should be focusing the bulk of your energy on. Worth is a feedback loop: once you value your own expertise, your clients will do so as well. This blog post is aimed at debunking common business myths and providing strategies to help empower you to charge your real worth, like the L’Oréal ad says: because you’re worth it.

“Worth is a feedback loop: once you value your own expertise, your clients will do so as well.” 

EMMA BOWDLER

But won’t I lose business by charging more?

The short answer is no. In fact, by charging a higher price, you will automatically place yourself on a tier with people who are willing to pay more for premium services. You may find yourself working with a lower quantity of clients, but the ones who you do secure will be higher in quality – i.e. more professional, better at communicating, more involved, and more eager to make real progress. This type of client is always a pleasure to work with, and they make business all the more rewarding for you. Trust us!

Isn’t discounting the key to winning business?

It’s a complete myth that offering discounts is the best way to secure long-term business. Sure, some companies will opt for low quotes because they’re on a shoestring budget, but most people are looking for best value rather than lowest cost. When you stop undercharging for your services, you stop undercutting others, and then when you do offer the occasional discount, you’ll really stand out from the competition.

How do I know my worth?

Worth comes from the inside out, honey! If you’re a woman in business, it is crucial that you know how intelligent and capable you are. Of course, these qualities are invaluable, but you’ll need to quantify them if you hope to get any work. Scour your competition to determine where you sit in comparison to the output quality of others in your industry. Aim higher rather than lower because, more likely than not, you’re underestimating yourself.

How do I communicate my worth?

You should feel empowered to communicate your worth clearly to potential clients. Remember that you’re the one who calls the shots – not them. If someone says “my budget for this project is $1000”, simply say: “I appreciate your budget limitations, but my offer stands firm at $2000”. Follow up with some details about why your experience comes with a higher price tag. Clients won’t be able to argue with you – the worst they can do is say no, and you’ll find that many say yes.

“Follow up with some details about why your experience comes with a higher price tag. Clients won’t be able to argue with you – the worst they can do is say no, and you’ll find that many say yes.”

EMMA BOWDLER

Want no-BS insights into business and life?Jump off the hamster wheel and join our party of badass women taking control of their business and life!