3 Steps to Charging Your Worth As a Business Owner
Over the next few weeks, you’ll hear stories from the Miocoa Strategies’ network on what we wish we knew about business or marketing. This is to help give insight into entrepreneurship and the impact of marketing/branding.
We hope you enjoy!
Story Provided by Jasmine C. Green (Pictured)
I know that as a black woman in America, we often devalue ourselves.
What I essentially mean by that is, we often downplay our capabilities, talents, or skills. Sometimes we place numerical values on ourselves that aren’t representative of our true value. Many black women in business have to work twice as hard to prove worth and credibility. In this series, I’m sharing my truth.
In the early stages of launching my company, MARZ, my sole intent was helping young women launch their career in the fashion industry with the necessary tools to excel in the high fashion industry. I later realized helping was the fun part but, running a business required capital.
I learned 3 major keys when pricing your products and services:
Identify your ideal client and target audience(s)
These are similar but not the same. Your ideal client is a person in you target audience. After focusing on what value I brought to my ideal client, I was then able to ask myself: “What value are you capable of providing to solve your clients’ problem?” That’s how I began creating packages and programs that solved their problems.
Stay in your lane
There’s no guide to building a successful business. I don’t have all the answers but I do know my business is my purpose. I’m not choosing to follow trends, chase momentum or remain out of God’s vision for my life. This took me awhile to understand. It’s also been a costly lesson.
Remember this one thing: STAY IN YOUR LANE AND GET IT DONE.
Add taxes to your worth
Create your price guide and add taxes to that number. It sounds funny when this is printed on a meme but it’s a serious statement. You have to provide value to your clients, document your success and add taxes to your worth.
STAY TUNED to our series “What I Wish I Knew” where our network comes together to give real stories and insight into marketing and entrepreneurship. Interested in participating? Send your submission to firstname.lastname@example.org.