You MUST be about your MONEY

I’ve said it before and I’ll say it again:  times are tough, but bills must be paid.  Many of us have grown weary of the conventional employee/employer jobs wherein we are overqualified, yet underpaid (I mean, I quit my job for that very reason).  We’ve ventured out into the world of Small Business Owner, creating our own LLCs and attempting to do the impossible:  creating jobs and generating income.  But the world of self employment is a slippery slope that could leave you more burnt than you were in the beginning.  You know what I’m talking about—those clients who feel they don’t have to pay you what you’re worth because you are an unknown.  We’ve all done the follow up calls checking on payments that should have been made, demanding compensation for bounced checks, and haggling over being paid fairly.  Everyone deserves to be paid what they are worth, so when you’re setting your prices for potential clients remember one key phrase:  You must be about your money.  No one else will look out for YOU like YOU will.  People will try to get over and pay what they think you’ll accept, and usually, we do.  NO MORE.  Here are a few things I’ve learned about being self employed:

1. First and foremost, you are your business.  Your business requires capital to keep going just like you require money to eat.  Don’t be a bleeding heart for every Sally Sob-story or Henry Hard-up.  Use discretion and know when someone is potentially taking advantage of you, because, people will.  Set rates and stick to them.  Be upfront and let any potential client know, this is what you charge.  As long as you have the credentials and the testimonials to backup your prices, people will take you a little more seriously. 
2. Time is money.  Just like you are compensated hourly at any other job, you should keep in mind that the more time you devote to your business, the more you are potentially making.  This doesn’t mean we’re all going to be millionaires, but your business is not a hobby—it’s a source of income.  Keep in mind that it takes time and dedication to grow your name and clientele—don’t expect to be an overnight success. 
3. Don’t take crap.  As mentioned before, people will try to take advantage of you.  Stand up for yourself and let them know you know your worth.  If they are unwilling to come to a reasonable agreement according to the terms you’ve already set, then “it’s on to the next.” Also, don't let personal relationships get in the way of business.  You must learn to distinguish between the two. 

I’ll repeat:  BE ABOUT YOUR MONEY.  With some determination, marketing, and self discipline, you can make yourself a formidable competitor. 

Lady A