You Are an Entrepreneur. Customers Will Pay What You're Worth.
Entrepreneur's New Year’s Guide
I started my entrepreneurship journey at 19 years old. I started a vacation-relief service for independent vendors. The business quickly grew into a six-figure business. It was a great business that I operated for 12 years but it wasn’t something I was passionate about. I sold the business at the end of 2012.
That year, I discovered the world of online entrepreneurship. The idea of making an income from my knowledge was very appealing. I wanted to create passive income and multiple revenue streams. I wanted more control of my time, the ability to travel, and true freedom.
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The first sale.
As I began this new business, all kinds of thoughts and emotions took over me those first few months. I remember the first time a stranger bought what I was selling online. I should have been excited but I was scared to death!
I had sold six copies of a $5 ebook to friends and family, but a random person online decided to enter their credit card information and buy. For weeks, I waited for the email asking for a refund. I was convinced they would read my book and laugh.
The first real money.
I remember the first time I made "real" money. I created a coaching program for those that wanted to learn how to book consulting gigs at local companies. I charged $900 for my three-month package. Two days after putting a “coaching” page on my website, I got a PayPal notification informing me that someone had purchased. I almost threw up!
All kinds of self-limiting beliefs ran through my mind. I questioned whether I could bring that person $900 worth of value. I felt like an imposter who should not be coaching. Creating the page was easy, I now realized that I had to do the work. It took everything in me to not run to the computer and issue them a refund.
The first serious payment.
I remember the first time I received a "serious" payment. I had been doing local consulting gigs for years. In 2015, I got tired of how crowded the online space felt. Everyone was a coach, selling an online course, doing webinars, funnels and the list could go on. I got tired of doing and sounding like everyone else online.
I decided to take my online knowledge into the offline corporate space. It’s a $365-billion-a-year industry with opportunities to create six income streams. With lots of local consulting experience, I decided to pitch a Fortune 500 company. It took four months for the deal to become a reality, but the first major corporation agreed to bring me in to consult on "the entrepreneurial mindset." They paid me $25,000 for a three-hour, one-off training.
In all of these cases, my self-limiting beliefs tried to convince me I was an imposter and that no one would buy from me or pay higher fees. In every single case, they did and continue to do so. All of my self-limiting beliefs were bigger (in my mind) than I made them out to be.
I know it's the same for someone reading this...
People will buy from you if you have built something real. You built a business around a topic for a reason. Maybe you experienced something and want to help others who will go through the same experience. Maybe you are passionate about something and did the research and training to become an expert at it. You are an entrepreneur—say that loud and proud.
If you have built a business that offers real value, people will pay higher fees. You can sign new clients daily. You can book paid speaking and consulting gigs around your topic and get paid five to six-figure fees. You can sell your online course for more than the standard $297 you see a lot online. You can take your offline business online and double your revenue streams because it’s a new and untapped market.
It's all possible.
If any of this is going to happen, you have to believe it. You have to beat the self-limiting beliefs battle every day. You can't let fear keep you from making power moves because your fears will try. You should charge more, go after bigger opportunities, do what scares you, and never get complacent.
You can build a business that gives you freedom and financial security. It starts with your beliefs about yourself and what’s possible. If you don’t believe it’s possible, you won’t even start. Then, it’s understanding the value you bring and charging according. If you don’t feel like the value is there but you know your worth, do the work to become more of an expert at what you do.
This is your life and you only get one of them. This is your business and you have the opportunity to build something amazing. For many reading this, you should be raising your prices as soon as you get done. Don’t undervalue what you bring to the table.