Many professionals and business owners get scared to raise their rate or ask for more money/compensation. They worry about when and how to do it. Money is the hardest topic to talk about. Why? It’s not an easy answer, but one thing I know is that money is emotional and we all have our “unique” money stories.
Most people, including employees and business owners do not fully understand their financial potential, as a result of not knowing their worth or the additional value they provide. Once they do know, they need support and help with how to get compensated for it.
Some important questions to ask yourself…
1. How do you go above and beyond for your employer/boss/ supervisor, clients, customers, co-workers or colleagues?
2. How important is making/earning more money to you?
3. What is the average salary or rate for what you do? Check out salary.com and other online resources. Ask your professional network.
4. How motivated are you to push yourself or have someone else push you to get paid what you are worth?
5. What’s the worst or best thing(s) that could happen?
What elevates your worth or value? Things to consider include…
Personality: Easy going, flexible, positive, upbeat…
Values: Strong work ethic, being more than fair, highly responsible and responsive…
Unique Talent or Combination of Talents
Experience, Expertise/Niche
Your Network!
Learn more from the experts!
“Get Paid What You Are Worth: The Expert Negotiator’s Guide to Salary and Compensation” by Robin L. Pinkley and Gregory B. Northcraft
“Price Yourself Right: A Guide to Charging What You’re Worth” by Jane Francis
“Worth Every Penny: Build a Business That Thrills Your Customers and Still Charge What You Are Worth” by Erin Verbeck
MarGO welcomes comments, creativity and curiosity! You can reach her at 404-218-4559 or send an email to MarGO@MargoGeller.com
