Have you ever said, “I can’t do that I just don’t have time?” That may be true sometimes but if you find yourself saying this to every opportunity that comes your way then you, like many business owners, have fallen victim to your business. We start a business so we can become more prosperous, not so our business can take over our lives. If you have lost your lifestyle and your free time to your business then you need to start implementing some systems and strategies to make your business work harder for you.
I want to share with you three reasons I hear my clients talk about when they say they don’t have any time.
1. Stuck in a Rut
When we build a business we start by implementing what we know. When it works we keep it. The challenge is that as the economy, industry, world market, your client’s buying habits, and you change over time so should your business. Many business owners are still doing business the way they set it up in the beginning.
If you have not made any changes since you started your business you should start now. I’m not talking 10 years down the road, I’m talking about constantly evaluating change in your market and making small tweaks to your business. The business owner that is on top of change is more likely to be ahead of their competition and ready for the things their clients will want or need.
2. Dream Big without a Clear Plan
My clients are high-achievers with big ideas. Unfortunately a dream is only realistic when there is a plan, the research is done, and there is a clear understanding of market and the client.
I have a client that wants an eCommerce site. They have been dreaming of this for over a year and it always seems like something that is about to happen, but it never gets started. Why? Because when they look at all the parts without having a plan it feels absolutely overwhelming and too expensive.
Take a look as some of these components that they want to put in place for their business:
- Need a website that can manage a shopping cart
- Need a VA (Virtual Assistant)
- Need a merchant account
- Need a finished product to sell
- Need to know What to order / What the client needs / What market to advertise to
- Need marketing copy for all aspects of this
Each piece on its own is time-consuming and can be very costly, but if they had started a year ago implementing individual pieces, using free components until they were making more money, and only hiring people when it could save them time and money, then they would have their ecommerce site finished and generating money for their business.
Knowing what is required now and what can wait is the key. Having a plan you can follow will make it happen quicker. You can use affirmations all day if you want, but I recommend you follow up with a business plan and take action now to make it happen.
3. Undervalued Time and Products
This is a chronic issue with passionate business owners, especially those in the wellness industries, where their hearts are so big and ‘giving’ is a key personality trait. It is sometimes hard to just ask for the money. But I want to tell you that if you are not charging what you are worth then you are not doing anyone a favour. Let me explain why.
When you undercharge you cause two things to happen. People that do not value your skills jump in to take advantage of the low rates. You will be working with people that will likely not be your ideal client. The second thing that will happen as a result is you will eventually feel undervalued and you may become jaded. Working hard at your calling without pay is working on a hobby. You must get paid enough that you can not only cover your costs but you can make a profit. The next step is to increase your price as you become an expert.
My hair dressers start off as junior stylist and charge about $30-$35 / hour. Over the years their price increase as their skill increases, and I’m OK with that. They have worked hard and deserve to be seen and paid as the expert they are. You should too.
- If you lose your passion for your calling you will go out of business.
- If you go out of business you cannot help the people that really need your services.
If you believe in your skill and your product, charge what it is worth so you can be around when your clients really need you.