Money - how not to offend or feel offended.

 

I am VERY VERY English when it comes to the part of my business that pays the bills, keeps us in food and electric, and I find it very difficult to raise the discussion when it comes to payment.

This may be due to the fact that I love my job, so payment is definitely a secondary thought, but it should be my primary as a business owner.

I signed up with a wonderful business coach last year, Tracey Baum, who helped me see my worth and also charge what I should be charging, but as she will testify, trying to get me to do this was difficult.

It doesn't help that my business is very varied, and I not only cover North Devon, which is quite poor in contrast to the likes of London, and also that I work both virtually and in person. So, reasonably what I would charge in North Devon for Personal Training would be less than what I would charge in a city on virtual. 

Would I be better having lots of clients paying less than less paying more? And to be honest, no I wouldn't. Changing the way I charge was a big deal when it came to re-branding last year, and it was, and still is, the biggest thing I have had to get my head around, and Tracey is still telling me that I am not charging enough for what I do!

I guess my clients come in a few categories......

NEW clients - top rate

EXISTING trusted and loyal clients - original rate, with a low annual increase, because loyalty means everything as far as I am concerned.

MATES rates - old friends and family members who have come for my help, their friendship also means loyalty and regular work, so their rates are lower than the new rates, increasing annually, but not much.

Am I the only business to work this way? I very much doubt it. You have to have flexibility when you are self-employed that's for sure, otherwise you end up with no work.

I always wonder if I am too expensive and this puts people off, but then I think, well, some people pay these rates, and they don't question it, so it must be okay? The fact is, I under estimate my worth, what I can do for people, and how much it will transform their lives. With that realisation, and with constant reminders to myself, and the feedback from clients, I can then justify again my prices. What is the price of health and happiness? I don't think you can actually put a price on that, and that's exactly what I am offering my clients.

I guess, because of the nature of my work, I'm kind, I'm not ruthless, although some of my PT clients may disagree, but this kindness transfers into all aspects of my life, and I'm almost apologetic about asking my clients for money.

Bringing in contracts with the new branding was a new concept for me, making clients sign up for a long period of time, but it makes sense, it stops those that are 'flakey' and only do a couple of months before quitting. It means those that come to me are genuinely committed.

I am also having to bring in a deposit system for massage clients now, due to cancellations on the day. I tell myself that dentists do this, so why shouldn't I? When I get a late cancellation I have no time to fit anyone else in to that time slot, meaning that I lose out on income I thought I would be getting. I already have a 48-hour cancellation built into fitness clients, so I have to follow this through, even on one-off massages and reflexology.

So, all in all, I guess I just have to woman up be a little less English about things. I need to put on my ruthless business pants and be a little more forceful, so I can actually make more of my business. 

Does anyone else struggle with this?
Do you have issues asking your clients for money owed?

Have you got things such as deposit systems put in place?

Has anyone got any advice on how to be a little more brutal and a little less English? Or is this just what makes me, me? And that's why my clients come to me?

That's it for today..........see you next week!