Many women brag about their revenue but shy away from discussing their profitability. Linda Holden makes this wise statement about profit, “The only thing worse than doing nothing is doing something for nothing.”
How about you? Are you working for next to nothing? If so, consider these five ways to drive profitability.
5 Ways to Drive Your Profit
1. When asked prematurely about pricing, feel free to say, "I’m not sure yet."
2. Never volunteer to lower your rates.
3. If you must lower your price, either reduce the deliverable or ask the buyer for something in return (referrals, testimonial, barter)
4. Do a project pro bono rather than significantly lowering your rates.
5. Offer incentives for upfront payment-in-full.