I get questions from people periodically. I thought there might be others that have these same questions. So, I wanted to share some of the questions, along with my responses, in my blog.
I hope you enjoy reading these.
Q: How do you determine pricing that is both fair and produces a profit?
Consider the value of what you have to offer. What are similar things going for in the marketplace? What need does my service fulfill? What is the fulfillment of that need worth in my community?
What would you need to make to make it worth your while? If you undercharge, you also undervalue yourself. When you undercharge, you will most likely end up resenting the work you’re doing. What do you want what you offer to be worth? Start there, then overdeliver. Re-evaluate periodically.
Q: How do I go about starting my own business?
To start your own business, first evaluate what you have to offer the marketplace? What is your compelling reason for starting a business? In my experience, money is not a compelling reason.
There are much easier ways to make money, so when the going gets tough in starting and building a new business, it’s too easy to quit if money is your motive.
What do you hope to accomplish? What gifts does God want you to use for the greater good? What would be a rewarding way to spend your time? What would that be worth to people? Who would you sell to? Where would you find them? What would they be willing to pay? Is that would you would be willing to take?
Depending on the business you want to start, there may be additional steps you need to take in order to comply with Federal, State and Local laws. Your Small Business Administration, other entrepreneurs and small business owners in your community (either virtual or local community), CPAs and Attorneys are good resources. Start building a network of people that you can get to know and that are willing to be a resource as you take the first steps. Set your intentions and then follow through with an action plan.
Q: First steps to take to pay off bills?
You need to first set your own compelling reason for paying off bills. What is your timeline? What are you willing to sacrifice? What obstacles will you encounter? How will you handle these obstacles? What strategies will help you overcome these obstacles? Will you cut other expenses? Will you create more income? How will you follow through on each of these? What are the actions you will take? How will you stay committed to your goal?
Q: Help with budget?
What type of help would you like with your budget? If you want help starting or building a budget that works for you and your family’s lifestyle, book a free strategy session at http://bit.ly/MoneyConsult
Q: How do I attract more money into my life without obsessing about it?
To gain more clarity around money, answer these questions:
- How much money do you want?
- What do you want that money for?
- Is this consistent with what you currently believe about money?
- What is your current relationship with money? Is it one where you only pursue money when you want something?
- Do you connect with money from a place of peace and purpose or from a place of fear and lack?
- How do you treat the money you already have? In a way that invites more or in a way that is abusive or disrespectful?
- What would you need to do to create more money in your life? How do you feel about that?
- Do you resist those things or embrace them?
- How do you feel about those with money? Do you want to be more like them or less like them?
- What makes you obsess about money?