Profit is one word I generally don’t expect to hear come out of the mouths of kids because they’re usually too busy talking about some toy, video game or cartoon. Well, to my surprise a 12 year old asked “what do you do” to which I responded but didn’t really expect the conversation to go any further than that. I continued the conversation by jokingly asking if he’d like to work for me. He responded yes but he also indicated that he wasn’t going to work for free. As you might imagine, I laughed but was fully engaged because we were about to talk money.
I asked how much he was going to charge me and he said a dollar an hour. I said a dollar an hour (being a bit dramatic)?? He said, yes I need to make a profit. I was speechless.
Here’s what I think we as entrepreneurs can learn from the conversation:
- Don’t be afraid to ask for the money (family and friends included). I would even venture to say the amount doesn’t matter as long as you aren’t working for free… but that leads me to the second takeaway.
- Charge enough for your products and services so that you generate a profit. Charge for profit, don’t charge for passion. Which simply means don’t allow your passion determine your fees.
- Stand your ground, know your worth and ask for what you want.
Now, if you’re struggling to increase your revenue because you’re not charging enough or you’re not asking for the money, then you don’t want to miss the 3-day No Excuses Revenue Bootcamp. You’ll get daily strategies and action steps to build your income and lots of it.
Bootcamp begins Monday, April 27th. Get all the details and register here before it’s too late!