Tuesday, February 19, 2013
Let's Talk About Money: How to Earn Exactly What You WANT
We don't like to talk about money, but we need it. We're thrifty so we can have more of it to spend on food and fun. I've been soul-searching and reached a conclusion: I need to re-focus my money goals! Here's how you and I can make our income exactly what we want it to be:
1) STOP UNDERSELLING YOURSELF
Flashback, 2008. I was 21-years-young. The company president sat behind his desk and maintained a perfect poker face, his eyes burned into me like lasers. He asks what I expect to make, I squeak, "I can't make less than $10.00 an hour." It's amazing he didn't crack the professional mask he wore with peals of laughter over his victory. He offered $11.00. My pay continued to rise but I was always the lowest paid marketer at the company.
NEVER AGAIN! Now I know my value. I make websites, design graphics, take bright, clear photos, market effectively, know SEO, draw, and write my ass off- and fast! Other designers I charge $25 to $45+ an hour to do 20% of what I did! I'm worth more and I will charge more. You should, too!
2) PEOPLE WILL PAY FOR WHAT YOU CAN DO
The picker skill is not universal, not everyone can pick out special items in thrift stores. Some don't have the eye to curate a collection. Not everyone can cook or craft. You have a special skill and people WILL pay for it.
Consider this: You pay a mechanic good money because you can't switch out a catalytic converter, right? People will pay good money for your special skills.
3) RAISE YOUR PRICES
I was stubborn here. People often suggest I should raise prices for my merchandise and services but I stuck to my lows, wanting to pass on savings to the customers I sincerely appreciate. But by doing so, I'm robbing myself of the type of income I need to make.
Do This: Track the hours it takes you to find, clean, photograph, and list your items as a reseller or make your items as a crafter. If you're paying yourself $20 an hour, incorporate that into your prices. You deserve to be paid for the hours it takes you to curate your online shop!
4) COMMUNICATE YOUR SERVICE, COMMUNICATE QUALITY
If people aren't buying there are two problems: 1) You're not providing the best quality you can in every aspect of your business and two 2) You're not effectively communicating exactly why your customer needs your product. I work every day on improving my message and quality, it's essential to raising pay.
5) SET TANGIBLE MONEY GOALS AND HIT THEM
Write down exactly what you want to earn for the year. Divide this by the months in the year so you know your monthly money goals to hit. It helps to go further and divide that into weekly and daily money goals. Do whatever it takes to hit those money goals! Get busy!
For real now, most people know what they need to do to earn more money, but they're just not doing it. I was there, too. The hardest part is getting started, but once the momentum is going it's hard to stop. I'm earning more and my creative energy and drive is ON FIRE. I can't stop making things and improving. Let's get on it and make the money we want to make!
If you've got any success tips to share in the comments, I want to read them!