starting a new small business

KNOW YOUR WORTH.

This comes from researching the marketplace. If you provide a service such as IT consulting, for example, you’ll need to know what IT consultants make from the low end to the high end.

Determine where you fall on that scale, depending on your level of experience and confidence in your abilities. A great resource for service providers is Laurie Lewis' What to Charge: Pricing Strategies for Freelancers and Consultants.

(Or you might be exploring how to make your KNOWLEDGE sell. You've got all this experience and wisdom, now how do you make money from it? Check out this FREE Master's Course in turning knowledge into revenue.)

For some it’s better to start off low (but not so low that you look amateurish). You can always raise your rates later.

Never let people undervalue your service – and believe me, they will. Some clients will grumble at the cost while others won’t even flinch. So don’t play small even when you’re starting to shrivel inside.

Get used to saying out loud how much your product or service costs. Look in the mirror and practice it until you feel comfortable with the language and your face muscles exude the same confidence in your voice.

If you’re selling products, “be a product of the product” if possible. This will enhance your credibility and make you a more effective salesperson. (And it's ALL sales when it comes down to it). Check out this thought-provoking article called "Would you buy from yourself?")

Also have a general idea of what similar products are on the market and how they compare and how much they cost.

I can sell video phones without being a phone technology expert, for example. Or I could sell candles without knowing all there is to know about candle making.

Just have a sense of how you and your products compare in the marketplace. Keep in mind this is not necessarily about having a better product than someone else.

When you’re starting a new small business, first acknowledge that you, personally, bring value to any business relationship, whether you’re a salesperson or a consultant.

You’re not just selling products. You’re selling yourself as a representative of those products, as someone with whom to establish trust and develop a relationship.

Place value on yourself as a human being with a unique personality who can succeed where others can’t, simply because you are who you are.

You might also check out this FREE Master's Course in Making Your Price Sell.

And be sure to subscribe to my free e-zine for more tools, tips, technologies and tactics for unstoppable entrepreneurs!

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