The Most Expensive Decision You’re Making in Your Business | Ep 184

[upbeat music] Women are losing money, not because they can't get clients or people to work with them.

It's because they're undercharging for the value that they provide.

I was reading this book called "Bring Yourself," and there was an example in here about two teenage girls that were gonna babysit.

Now, one, when asked what she charges hourly to babysit, she was just like, "I don't know.

You can pay me whatever you want.

Whatever you paid your last babysitter." And she felt so uncomfortable talking about money or how much to get paid.

Now, the second one, she was like, "This is my hourly rate.

This is what the standard is for babysitting in this area," and she had no problem talking about pricing.

And I hear this all the time from the women I work with.

Like, she's fully booked.

Her calendar is jam-packed.

Clients love her.

But she still can't afford to pay herself.

And when I look at the numbers, it's never about demand.

It always comes down to pricing, and she's just, like, discounting her services.

She can't say no to people.

She's helping anybody and everybody, and she just feels bad, so she's not charging what she should be charging.

But the reality is that I want you to understand is that your expenses don't discount.

Like, you still gotta make your rent every single month.

If you work from home, that's like your home office.

You still have your mortgage.

You still have your bills to pay.

If you pay for subscriptions, like the CRA, IRS, they're not discounting taxes just because you discounted a client.

Like, do you see how silly that sounds? And we as women, naturally, we start undercharging.

We wanna help anybody and everybody.