Are you afraid of asking for money?

Is it challenging to think of asking for money in your business? Watch this video for 3 strategies to make it easier!

1) Have a System – maybe you’ll ask for funds up front, at the end of the session, or midway through the project. Outline this in your Client Welcome Packet. Especially if you have a complicated system with deposits, payment deadlines and penalties for non payment, spell it all out for your client.

Sometimes we’re afraid people won’t pay us because of past experiences. Instead of letting this fear keep you from making the money you’ve earned, choose to think the best of your clients (because you work with awesome clients, right?). But to pay you in full and on time, the client has to know what you expect.

2) Ask Confidently – remember that your client has chosen to work with you and is, presumably, excited to solve their problems. So smile, let them know the cost of the session, work, package or item and accept the payment with a “thank you.”

Your client came into the situation understanding it’s a transaction so don’t avoid the elephant in the room. You’re not a charity or non-profit, you run a business and need revenue to make it work.

3) Follow up ASAP – send an email or call to discuss the payment and settle the financial part if you don’t take care of it in advance or at the time of service. Always remember to be clear about what types of payment you accept and the amount due.

In some cases it’s a professional courtesy to invoice a client after the fact but remember that if you’ve done the work and not submitted a bill then you’ll be pretty far down the “to pay” list.

4) Don’t change your prices – sometimes when you put those prices on a website it’s much easier than looking someone in the eye. So practice staying firm and stating your prices with confidence. The worst thing you can do to undermine your confidence is to lower or change your prices in the moment.

Not only will you look and feel like an amateur, it gives the impression that your other rules are up for negotiation as well. It was $100 for an hour massage but now only $85? Maybe you can throw in a hot stone treatment too. Or you charge $750 for the graphics package but decided to throw in a second logo and banner. Then why can’t you also do my twitter page design? they’ll ask.

The old adage here is true, “give an inch and people will take a mile.”

If asking for money in your business is a challenge then you have to give it attention and resolve the fear. Because otherwise you’ll be out of business, struggling and unable to help more clients.