Focus Tips - 5. Make Money Work for You
Nick’s Ten Top Tips for a Healthy Business.
Starting and developing a focussed and holistic business can bring you great rewards in many areas. This can mean money and profit, peace of mind, a secure income stream, the opportunity for self-improvement, perhaps the creation of a legacy to hand on. To get things moving in your favour consider the following pointers and judge for yourself the progress you are making or the progress you might begin to achieve through putting some or all of these into place.
5. Make Money work for You
You can provide great service and support, but ensure that you are being paid for this.
Look at the rates for your own work.
Are they above the market level? Are you undercharging?
Position your pricing to be on the positive side of desirable and understand that in the eyes of your clients cheap pricing often implies to them ‘cheap product’.
Take care to increase your pricing regularly. When I started my own business a wise friend said “Always charge at least 20% more than you feel comfortable with and you will be about right.” Great advice indeed.
Join us again soon for more thinking-time tips.
Nick Sturgeon is a small business owner who has benefitted from the experiences of success, failure and financial recovery. The author of “Small Business BIG Profit” published by FT Prentice Hall, Nick writes and speaks from the heart to audiences about Risk, Reward and the Power of Personal Enterprise. nick@smallbusinessbigprofit.co.uk
